About Biosimilars Treatment
The Biosimilars are the chemicals based drugs which are approved by U.S. Food and Drugs Administration (FDA) for the treatment of cancer. Biosimilars treatment market is expected to mark significant growth over forecasted period owing to increasing due to product introduction competition into the drug development process, that leads to cost savings for patients and spurs for development of new treatments and technological advancement. Furthermore, factors such as high demand for the low-cost therapeutics and treatments, high prevalence and incidence of various chronic diseases, rise in research and development expenditures by the market players in the emerging economies such as India, South Korea and China are also propelling the growth of biosimilars market in Asia Pacific region.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Biosimilars Treatment market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Pfizer Inc. (United States), Eli Lilly and Company (United States), Celltrion Healthcare (South Korea), Mylan NV (United States), Novartis AG (Switzerland), Samsung Bioepis Co. Ltd (South Korea), Stada Arzneimittel AG (Germany), Teva Pharmaceutical Industries Ltd (Israel) and Intas Pharmaceuticals Ltd (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are LG Life Sciences (South Korea), Biocon (India) and Dr. Reddy’s Laboratories (India).
Segmentation Overview
AMA Research has segmented the market of Global Biosimilars Treatment market by Type (Recombinant Non-Glycosylated Proteins {Recombinant Human Growth Hormone (RHGH), Granulocyte Colony-Stimulating Factor (Filgrastim), Insulin, Interferons}, Recombinant Glycosylated Proteins {Erythropoietin (EPO),Monoclonal Antibodies (MABS), Follitropin} and Recombinant Peptides {Glucagon, Calcitonin}), Application (Oncology, Chronic Diseases, Autoimmune Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases and Other) and Region.
On the basis of geography, the market of Biosimilars Treatment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Manufacturing, the sub-segment i.e. In-House Manufacturing will boost the Biosimilars Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Collaboration and Tie Up Of Leading Players and Substitutes Available For Biosimilars Treatment
Market Growth Drivers:
Increase Number of Chronic Diseases Boost the Biosimilars Treatment Market. and Rapid Demand of Biosimiliars due to its Cost Effectiveness.
Challenges:
Limitation due to Government Regulations Anticipated to Challenge the Market. and Limited Obtainability of Biosimilar Products Hampers the Global Market.
Restraints:
Complexities in Manufacturing Hampers the Biosimilars Treatment Market. and Lack of Innovative Techniques by the Biosimilars Manufacturers.
Opportunities:
Proliferation of Biosimilars Treatment at Emerging Countries. and Patents Expiry and New Indications of Biologic Products.
Market Leaders and their expansionary development strategies
In November 2022, Biocon Biologics Completed Acquisition of Viatris’ Global Biosimilars Business. The acquisition will accelerates direct commercialization of its biosimilars portfolio in advanced markets and several emerging markets
In October 2023, Boehringer Ingelheim (BI) launched an unbranded version of its adalimumab biosimilar; Alvotech and Kashiv Biosciences partner for an omalizumab biosimilar candidate; the FDA issues a complete response letter (CRL) for Biocon’s insulin aspart biosimilar.
“According to Food and Drug Administration, it’s approved biosimilar products and provides the scientific and regulatory advice needed to bring safe and effective biosimilars to market. The approval of biosimilar products can improve access to care for patients by increasing the number of medication options and potentially lower costs.”
Key Target Audience
Biosimilars Treatment Manufacturers, Biosimilars Treatment Traders, End-Use Market Participants of Different Segments of Biosimilars Treatment, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.