The “Global Biosimilars Market 2020-2025” report has been added to ResearchAndMarkets.com’s offering.
The global biosimilars market should reach $60.1 billion by 2025 from $15.7 billion in 2020 at a compound annual growth rate (CAGR) of 30.9% for the forecast period of 2020 to 2025.
Biosimilar drugs have gained immense popularity because of their impact on the lives of many patients. These drugs belong to several drug classes including hormones, interferons, growth factors (colony-stimulating factors, erythropoietin), and monoclonal antibodies, among others. The use of these drugs has aided in the affordable treatment of many life-threatening diseases ranging from cancer and diabetes to chronic inflammatory diseases such as rheumatoid arthritis, psoriatic arthritis, and others. The high cost of branded biologics has made biosimilars a lucrative alternative for affordable treatment. According to this report on biosimilars, the global market for biosimilars is expected to reach close to $20.8 billion by 2022, growing at a CAGR of 30.5%. Other drivers for this market include rising aging populations, patent expirations of many blockbuster drugs, and better healthcare provisions.
This updated report provides an in-depth analysis of the market for biosimilars in a global context, including market forecasts and sales through 2025. This study surveys the market for biosimilars in all the geographic regions including North America, Europe, the developed rest of the world (RoW), and emerging markets. The emerging markets include countries like India, China, Taiwan, Africa, and Latin America.
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The report provides an analysis of the market for biosimilars in various segments, for instance, by type, by region, and by application/disease category. The report will include a detailed overview of the subject wherein the classification of biosimilar drugs along with their approval mechanisms, clinical trials, and applications under review are elaborated upon.
The report also provides relevant patent analysis in both the U.S. and the European Union and comprehensive profiles of companies that lead the biosimilar drugs industry. The industry structure, focusing on the important biosimilar drug manufacturers/suppliers and their market shares and product offerings, is analyzed. This report also discusses the current market situation by elaborating upon the market drivers, restraints, challenges, and opportunities. Separate chapters discuss the regulatory aspects and clinical trials. The latest news pieces including new products, new indications, mergers, and acquisitions in the market are also dealt with in sufficient detail.
Excluded from this report are biobetters, generics of small molecule drugs, and the biogenerics pertaining to vaccines and blood products. The different requirements for approval and bioequivalence between generics and biosimilars put them in an entirely different regime.
Source: Globenewswire