“The Latest Research Report Global Biosimilars Market By 2025 provides information on Market Size, Analysis, Shares, Forecast, Emerging Technologies and Company Profiles for key Industry Participants – Market Research future”
Biosimilars Market Analysis
MRFR’s analysis of the global biosimilars market suggests that from 2019 to 2025, Biosimilars Market Size is expected to register a CAGR of 7.5% during the forecast period of 2019 to 2025, with a market value of USD 13,460 Million in 2018.
Biosimilars Market Apprehension
Recently, execution of numerous medical research and developmental undertakings are noted. The need for advancement in existing medical solutions and innovations are augmenting the need for biosimilars. Biosimilars are used extensively in clinical research activities. The growing cases of clinical trials is pushing the adoption of biosimilars. These aforementioned factors are expected to spur the biosimilars market growth over the assessment period. The emergence of latest technologies can bolster the effectiveness of biosimilars. The growing number of chronic disorders is urging for enhanced treatment, which in turn, is spurring clinical trials activities. The growing number of research institution can also reinforce the global biosimilars market growth. Additionally, rise in strategic collaborations and incidences of disorders can also propel the biosimilars market expansion. However, scepticism of physicians regarding the effectiveness of biosimilars and lack of awareness about biosimilars can impede the biosimilars market expansion.
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Biosimilars Market Segmental Overview
The global biosimilars market study has been segmented based on product, manufacturing, and application. The segmental overview of the market briefs on the precision of the global biosimilars market study.
Based on the application, the biosimilars market has been segmented into based segmentation segments the market into oncology, immunity-related diseases, blood-related disorders, and others.
Based on the manufacturing, the biosimilars market has been segmented into in-house manufacturing and contract manufacturing.
Based on the product, the biosimilars market has been segmented into recombinant non-glycosylated proteins, recombinant glycosylated proteins, and others. The recombinant glycosylated proteins segment has been classified into EPO and Monoclonal antibody (mAb). The recombinant non-glycosylated proteins segment has been narrowed down to insulin, growth hormones, and other.
Biosimilars Market Regional Outlook
Based on the region, the biosimilars market has been studied across Europe, North America, Asia Pacific and the Rest of the World (RoW). The regional outlook segment states the regional progress of the biosimilars market.
The rigorous advancement of medical research in Europe, can spur the regional biosimilars market to growth over the review period. Other factors like surge in the prevalence of unknown diseases and growing geriatric citizenry can bolster the regional biosimilars market growth in the coming years.
The biosimilars market in North America, after Europe, is to hold the largest market share over the forecast period. Due to stupendous technical upgradations which are taking place in the region, the US and Canada are likely to exhibit an impressive growth of the biosimilars market.
The biosimilars market in the Asia Pacific region is anticipated to emerge with a substantial growth in the near future. Regions like Japan, South Korea, Australia, and India are expected to generate maximum revenue for the regional market over the assessment period.
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Biosimilars Market Key Players
MRFR has enlisted some prominent companies operating in the biosimilars market. They are; Pfizer Inc. (USA), Amgen Inc. (USA), Samsung Bioepis (South Korea), Astra Zeneca (UK), Teva Pharmaceuticals Industries Ltd. (Israel), F. Hoffmann-La Roche Ltd. (Switzerland), Celltrion, Inc. (South Korea), Accord Healthcare (UK), Biocon Ltd. (India), Eli Lilly (USA), Novartis (Switzerland), Dr. Reddy’s Laboratories Ltd. (India), and Sandoz International GmbH (Germany).