Biosimilars Market Overview
The Biosimilars Market Size is expected to register a CAGR of 23.9% with a market value of USD 95 Billion during the forecast period of 2022 to 2030
Analyzing the market structure, this report estimates the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and developments (R D) in the market. This report also covers insights on the major countries/regions in which this industry is flourishing, along with the list and description of untapped regions which could be the potential markets in the future.
The key factors aiding the growth of the global biosimilars market include clinical trial activities for biosimilars, increasing demand for the cheap medical products, increasing incident of different diseases, and strategic collaborations resulting in enhanced productivity. However, lack of awareness and physician skepticism are the major restraining factor regarding market growth. the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global Biosimilars Market is expected to register a CAGR of 23.9% with a market value of USD 95 Billion during the forecast period of 2022 to 2030
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Mundipharma, a network of independent pharma companies, has acquired Spanish biosimilars development company Cinfa Biotech. The deal gives Mundipharma, access to a biosimilar to Amgen’s Neulasta (pegfilgrastim). 10 OCT 2018
- The new white paper issued by the Association of European Cancer Leagues, a nonprofit, pan-European organization of national and regional cancer societies, has called for the greater use of biosimilars as a means to increase patient access to cancer treatment, and reduce costs. 10 OCT 2018
Biosimilars Market Segmentation:
Major elements such as lack of favorable policies could obstruct the biosimilars market growth. However, according to the biosimilars market research report, the growing prevalence of chronic diseases along with patent expiration of various popular drugs will propel growth throughout the forecast period. The biosimilars market is set to register growth at a high CAGR owing to these key factors. The exploration of applications, end users, region, and product segments along with regional markets has been given in the global biosimilars market research report. The research analysts studying the biosimilars market have put out market forecasts in the biosimilars market research report in order to support biosimilars market-based companies. The biosimilars market research report provides extensive understanding of the biosimilars market based on the information and forecasts till 2025.
Biosimilars Market Regional Analysis
Continuing with its dominance, Europe biosimilars market is expected to surge heading with high consumption of biosimilars backed by the augmented prevalence of chronic diseases and rising geriatric populace. Growing further, over its previous growth records by 2023 the region is expected to create a larger revenue pocket in the global market. Factors such as the high disposable income and the increasing health-eccentric populace impact the regional market growth positively.
Whereas the second largest market for Biosimilars– North America is surging owing to the contributions from the countries such as the US Canada. The growth attributes to the high per capita income coupled with the growing trend of maintaining the well-being health.
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