Biosimilar Market is expected to Reach US$ 60.8 Billion by 2027 | IMARC Group

June 27 23:40 2022
Biosimilar Market is expected to Reach US$ 60.8 Billion by 2027 | IMARC Group
Catalyzed by these factors, the Biosimilar Market is expected to reach US$ 60.8 Billion by 2027, exhibiting at a CAGR of 26.1% during 2022-2027

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.                                           

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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.  

Competitive Landscape:

  • Novartis 
  • Pfizer
  • Teva
  • Celltrion
  • Merck & Co
  • Samsung Bioepis 
  • Eli Lilly
  • Biocon
  • Reddy’s Laboratories
  • Amgen
  • Boehringer Ingelheim

Molecule insights: 

  • Infliximab
  • Insulin Glargine
  • Epoetin Alfa
  • Etanercept
  • Filgrastim
  • Somatropin
  • Rituximab
  • Follitropin Alfa

Indication Insights:

  • Auto-Immune Diseases
  • Blood Disorder
  • Diabetes
  • Oncology
  • Growth Deficiency
  • Female Infertility

Manufacturing Insights:

  • In-house Manufacturing
  • Contract Manufacturing

Regional Insights:

  • United States
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom
  • Japan
  • India
  • South Korea 
  • Others

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.

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