Stratistics MRC’s Global Biosimilars Market value is expected to reach $100.2 billion growing at a CAGR of 22.7% during 2023-2030.
Biosimilars, also known as follow-on biologics, are almost exact replicas of the original drugs but are created by a different company. A variety of acute and chronic illnesses and disorders are treated with biosimilars. The human brain’s electrical activity is captured using biosimilars.
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Asia Pacific is projected to have the highest CAGR over the forecast period. The increasing prevalence of chronic diseases, rising healthcare costs, and the expiration of biologic drug patents has fuelled the demand for cost-effective treatment options. Governments in countries like India, South Korea, and China are actively promoting the adoption of biosimilars to enhance healthcare accessibility and affordability. Additionally, a supportive regulatory environment and streamlined approval processes have encouraged both domestic and international pharmaceutical companies to invest in biosimilar development.
Some of the key players in Biosimilars market include Coherus Biosciences Inc., Boehringer Ingelheim International GMBH, Eli Lilly and Company, Fresenius Kabi Ag, Samsung Bioepis Co. Ltd, Amgen Inc., LG Life Sciences (LG Chem), Celltrion Healthcare, Biocad, Dr. Reddy’s Laboratories LTD., Viatris Inc., Intas Pharmaceutical Ltd, Biocon Limited, Teva Pharmaceutical Industries Ltd, Pfizer Inc., Stada Arzneimittel AG and Novartis AG.
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Key Developments:
In May 2023, Boehringer Ingelheim received U.S. FDA clearance for Cyltezo Pen, a novel autoinjector choice for Cyltezo (adalimumab-adbm), an FDA-approved interchangeable biosimilar to Humira.
In January 2023, Amgen Inc. launched AMJEVITA (adalimumab-atto), a biosimilar to Humira (adalimumab) in United States.
In October 2022, Biocon and Yoshindo Inc., entered into an agreement for commercializing Biocon’s pipeline products ustekinumab and bDenosumab in Japan.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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