The Infinium Global Research analyzes the Biosimilar Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global biosimilar market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of biosimilar. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the biosimilar market during the period.
"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026." The Section on the Impact of COVID-19 on this Market is Included in the Report for Free. To Know More Request Sample of this Report: https://www.infiniumglobalresearch.com/reports/sample-request/6039
Diabetes and Cancer Drive the Demand for Effective Patented Biologics Medicines
A biosimilar is a biological product with similar characteristics that are referred to as a biological product, which possesses approved according to the same standards of pharmaceutical quality, safety and efficacy that apply to all biological medicines. Biosimilar products are made of high molecular weight complex molecules generated in living cells through genetic engineering. In terms of price compared to the respective biologic drugs, biosimilar drugs will save approximately 30 to 40 percent. Biosimilar is useful for the treatment of illnesses such as anemia, autoimmune diseases, cancer, diabetes, growth hormone deficiencies, hematological diseases, kidney failure, rheumatoid arthritis, and others. The substitution of biological drugs with biosimilar drugs can save a lot of money for the public health care sector and patients.
Additionally, the current concern over the spread of coronavirus has severely impacted the pharmaceutical and biologics industry. The healthcare industry is facing challenges in ongoing discovery and clinical development efforts, as well as bracing for increased market access hurdles. The sudden outbreak of COVID-19 impacted on clinical trials and new drug development due to travel limitations, interruptions to the supply chain for the investigational product, quarantines, and site closures owing to stringent government regulations and guidelines. However, biosimilars industry continue to move forward through new FDA approvals, biosimilar launches, and government policy proposals.
Growing number of geriatric population and increasing awareness about biosimilar among the patients and doctors are the major factors for the growth of the global biosimilar market. An increasing number of patients with chronic illnesses such as diabetes and cancer drive the demand for effective patented biologics medicines. Due to the lower cost, biosimilar medicines are expected to attain more demand over the forecast period. Further, the reimbursement policies of various governments and the increasing interests of the insurance companies are expected to make biosimilar affordable to more people and drive the growth of the global biosimilar market. however, the high manufacturing cost and complexity of production, along with the unclear regulatory policies in many countries are expected to be the major restraints for the global biosimilar. Furthermore, the expiry of patents of various blockbuster drugs is a major factor for the growth of the global biosimilar market, as it is expected to provide growth opportunities in the forecast period.
European Market Holds a Major Share in the Biosimilar Market
In terms of geographies, the European market holds a major share in the biosimilar market. Countries such as France, Germany, Italy, and United Kingdom drive the growth of the European biosimilar market owing to the high demand for biosimilars. Further, Presence of major biopharmaceutical key players with large spending on developing biosimilar propel the demand of Biosimilars in Europe region. Furthermore, the Asia Pacific region is anticipated to be the fastest-growing market for biosimilars over the projection period, due to growing population and the need for low-cost alternative medicines for various diseases in countries such as China, India, and South Korea.
Biosimilar Market: Segmentation
The report on global biosimilar market covers segments such as product, and application. On the basis of product, the sub-markets include human growth hormones, monoclonal antibodies, insulin, peptides, erythropoietin, and other products. On the basis of application, the sub-markets include oncology, chronic and autoimmune diseases, growth hormone deficiency, infectious diseases, and other applications.
Biosimilar Market: Competitive Landscape
The report provides profiles of the companies in the market such as Allergan plc, BIOCAD, Biocon Limited, BioXpress Therapeutics SA, Boehringer Ingelheim International GmbH, Celltrion Inc, Coherus BioSciences, Inc, Dr. Reddy’s Laboratories Ltd, Genor BioPharma Co. Ltd, and Novartis AG.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the biosimilar.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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