Biosimilars Market is expected to generate a revenue of USD 112.65 Billion by 2030, Globally, at 24.3% CAGR: Verified Market Research®

The Biosimilars Market is expanding due to the increased prevalence of chronic diseases and the rising demand for biosimilars in various countries because of their affordability.

JERSEY CITY, N.J., Sept. 20, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Biosimilars Market" By Product (Monoclonal Antibodies, Insulin, Erythropoietin), By Indication (Oncology, Inflammatory And Autoimmune Diseases, Chronic Diseases), and By Geography.

Biosimilars Market size was valued at USD 15.21 Billion in 2021 and is projected to reach USD 112.65 Billion by 2030, growing at a CAGR of 24.3% from 2022 to 2030, according to the most recent study from Verified Market Research.

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Browse in-depth TOC on "Biosimilars Market"

202 - Pages

126 – Tables

37 – Figures

Report Scope

Global Biosimilars Market Overview

A biological medicinal product that is virtually an exact replica of an original product produced by a separate company is referred to as a "biosimilar." The creation of biosimilars is permitted once the patent on the original "innovator" product expires. Biosimilars are legally recognised replicas of the original products. The innovator's product is mentioned in the approval. Biologics have a high level of chemical complexity and may be particularly susceptible to changes in manufacturing techniques, unlike generic medications of the more popular small-molecule variety. All biopharmaceuticals, including biosimilars, must maintain constant quality and clinical performance throughout their lifecycle regardless of any variances.

The rising elderly population and the rising incidence of chronic diseases, the shortened regulatory approval procedure, and expanding strategic partnerships and agreements are the main factors driving the growth of the biosimilars market. The cost of biosimilars is typically 20–30% less than that of their parent or branded counterparts. As a result, patients can obtain highly effective treatments while also saving money. Biosimilars have less expensive R&D expenses when compared to innovator biologics. Because R&D expenses are lower, biosimilars are less expensive.

Key Developments

• In September 2021, Samsung Bioepis and Biogen announced that the Food and Drug Administration (FDA) had approved BYOOVIZ (ranibizumab-nuna), a biosimilar to LUCENTIS (ranibizumab), for the treatment of neovascular age-related macular degeneration, macular edoema following retinal vein occlusion, and myopic choroidal neovascularization. BYOOVIZ was the first ophthalmology biosimilar approved in the United States.
• In December 2021, Eli Lilly's Rezvoglar (insulin-glargine-aglr), a biosimilar to LANTUS, has been approved by the Food and Drug Administration (FDA) (insulin glargine). Rezvoglar is used to improve glycemic control in adults and children with type 1 diabetes, as well as adults with type 2 diabetes.

Key Players

The "Global Biosimilars Market" study report will provide a valuable insight with an emphasis on the global market.  The major players in the market are

• Pfizer Inc.
• Sandoz (Germany)
• Amgen Inc.
• Biocon (India)
• Celltrion (South Korea)
• Samsung Biologics (South Korea)
• Novartis AG
• Dr. Reddy's Laboratories Ltd.
• Eli Lilly and Company
• Teva Pharmaceutical Industries Ltd
• Fresenius Se & Co. KGaA
• Stada Arzneimittel AG
• Boehringer Ingelheim
• Gedeon Richter Plc

Based on the research, Verified Market Research has segmented the global Biosimilars Market into Product, Indication, and Geography.

• Biosimilars Market, By Product
• Monoclonal Antibodies
• Insulin
• Granulocyte Colony-Stimulating Factor
• Erythropoietin
• Recombinant Human Growth Hormone
• Etanercept
• Follitropin
• Teriparatide
• Interferons
• Enoxaparin Sodium
• Glucagon
• Calcitonin
• Biosimilars Market, By Indication
• Oncology
• Inflammatory And Autoimmune Diseases
• Chronic Diseases
• Blood Disorders
• Growth Hormone Deficiency
• Infectious Diseases
• Other Indications
• Biosimilars Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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Top 10 Biopharmaceutical Companies synthesizing biological sources for global patients

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