According to the recent report by IMARC Group, entitled “Biosimilar Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027”, the Biosimilars market reached a value of US$ 13.0 Billion in 2021. Catalyzed by these factors, the market is expected to reach US$ 60.8 Billion by 2027, exhibiting at a CAGR of 26.1% during 2022-2027.
Biosimilars or follow-on-biologics is a biotherapeutic product that is particularly similar to a reference biologic drug. The biologic is produced using living cells or organisms that have a complex molecular structure. A biological drug must be proved similar in terms of safety, quality, and efficacy to be labeled as a biosimilar. When compared with generic drugs, biosimilars are expensive as it requires significant investments in research and development (R&D), and their production process is comparatively complex.
Request for a PDF sample of this report: https://www.imarcgroup.com/biosimilar-market/requestsample
Biosimilar Market Trends:
The global biosimilar market is primarily driven by several initiatives undertaken by the governments of various nations and the key players to encourage the use of biosimilars over branded biologics, primarily due to their cost-effectiveness. Several blockbuster biologic drugs are losing patent protection, which is further providing an impetus to market growth. The increasing cases of chronic diseases, such as cancer and various autoimmune diseases and the rapidly increasing geriatric population are other factors creating a positive outlook for the market.
- Merck & Co
- Samsung Bioepis
- Eli Lilly
- Reddy’s Laboratories
- Boehringer Ingelheim
- Insulin Glargine
- Epoetin Alfa
- Follitropin Alfa
- Auto-Immune Diseases
- Blood Disorder
- Growth Deficiency
- Female Infertility
- In-house Manufacturing
- Contract Manufacturing
- United States
- United Kingdom
- South Korea
Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/biosimilar-market
Note: We are updating our reports, If you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Other Report by IMARC Group:
Bluetooth Speaker Market: https://www.imarcgroup.com/bluetooth-speaker-market
Saudi Arabia Pet Food Market: https://www.imarcgroup.com/saudi-arabia-pet-food-market
India Facility Management Market: https://www.imarcgroup.com/india-facility-management-market
Indian Access Control Market: https://www.imarcgroup.com/indian-access-control-market
Indian Shrimp Market: https://www.imarcgroup.com/indian-shrimp-market
Video Streaming Market: https://www.imarcgroup.com/video-streaming-market
Smartwatch Market: https://www.imarcgroup.com/smartwatch-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Address:30 N Gould St Ste R
Country: United States