U.S. biosimilars market is slated to grow with an impressive 38.1% CAGR in the forthcoming years. In a nutshell, fueled by U.S. regulators’ efforts in expediting the entry of biopharmaceuticals in the country and by the Indian biopharmaceutical industry’s active participation in heralding industry growth, the global biosimilars market statistics are projected to expand substantially in coming years. Revenue graph of global biosimilars industry is poised to surpass a valuation of $69 billion by 2025.
Fueled by the product’s ability to facilitate cost-effective treatment options by overcoming astronomical medicine prices, the global biosimilars market is shaping up to become one of the medical industry’s fastest-growing investment avenues.
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When introduced to the market, a biosimilar takes away the originator drug’s business due to its affordability and its ability to perform same as the reference drug. This would consequently boost product adoption and bring about a change in biosimilars industry statistics. As a matter of fact, the market is slated to witness additional goals in forthcoming years as more patents keep expiring.
Deployment of recombinant DNA (rDNA) technology in the manufacturing of biosimilar products like human growth hormones, insulin, and erythropoietin registered 80% of the total biosimilar market share, estimated to be more than USD 8,123.6 million in 2018. The growth can be attributed to the effectiveness offered by the rDNA technology to enhance the productivity of biosimilars for ensuring the rapid treatment of ailments.
In-house biosimilar manufacturing also assists the firms to monitor and evaluate the product functions as well as to mitigate costs related to delivery and shipping.
Biosimilar companies are focusing on extending their offerings in the high potential markets as well as in the sparsely addressed countries across the globe to increase their visibility. Leading local industries in developing countries are working on innovations for novel biosimilar drug developments specifically in the treatment of the present coronavirus pandemic.
For instance, in September 2010, Amgen inked a manufacturing partnership deal with Eli Lilly & Co. to enhance the production and supply of the latter’s potential COVID-19 therapies. Biocon, Biogen, Coherus BioSciences, Boehringer Ingelheim, and Celltrion, are some of the other brands in the industry.
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Partial Chapter of the Table of Content
Chapter 6. Biosimilars Market, By Manufacturer
6.1. Global market share by manufacturer, 2018 & 2025
6.2. Contract Research and Manufacturing Services
6.2.1. Market size, by region, 2014 – 2025 (USD Million)
6.3.1. Market size, by region, 2014 – 2025 (USD Million)
Chapter 7. Biosimilars Market, By Technology
7.1. Global market share by technology, 2018 & 2025
7.2. Recombinant DNA Technology (rDNA technology)
7.2.1. Market size, by region, 2014 – 2025 (USD Million)
7.3. Monoclonal Antibodies (MAb) Technology
7.3.1. Market size, by region, 2014 – 2025 (USD Million)
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