It is anticipated to exhibit a CAGR of Cost-effectiveness of biosimilar drugs and high prevalence of chronic disorders globally are some major factors contributing to market growth.
The first biosimilar was approved inwhereas in the U. Europe has been the market leader in since its first approval.
Rising adoption of biosimilars in Europe is the key factor for growth in the region. However, stringent rules and regulations are expected to restrain the growth of the market in the region. Increasing prevalence of cancer and other medical conditions in the region is expected to drive the market in the region.
Furthermore, rising geriatric population in countries such as Japan and India is projected to provide a lucrative opportunity for the growth of the market. For instance, in FebruaryAurobindo Pharma Limited completed its acquisition of four cell culture derived biosimilar product from TL Biopharmaceutical AG to enter into the global market.
Competitive Landscape The global biosimilars market is consolidated in nature with the majority of the share held by a few well-established players. The key players include Pfizer Inc. The manufacturers are concentrating on getting approvals in various regions to increase their presence globally.
Other players include Biogen Idec, Inc.
We also offers customization on reports based on specific client requirement. Request for Customization Choose License Type.Industry Insights. The global biosimilars market size was valued at USD billion in It is anticipated to exhibit a CAGR of % during the forecast period. Cost-effectiveness of biosimilar drugs and high prevalence of chronic disorders globally are some major factors contributing to market growth.
Global Biosimilars Market: Regional Analysis The biosimilars market is geographically segmented into North America, Europe, Asia-Pacific, and Rest of the World. The region that is leading the biosimilars market is Europe and it .
In-house manufacturing accounted for the largest share of the global biosimilars market in The growing demand for cost-effective biosimilar products owing to the rising incidence of various diseases is driving the growth of the in-house manufacturing segment.
Europe accounted for the largest share of the global biosimilars market in . Technavio's report, Global Biosimilars Market , has been prepared based on an in-depth market analysis with inputs from industry experts.
The report covers the market landscape and its growth prospects over the coming years. The global biosimilar market has been segmented by product class and geography.
By geography, it has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America accounted for the largest share, accounting for . Industry Insights. The global biosimilars market size was valued at billion in and is expected to grow on account of increasing prevalence of chronic diseases such as cancer and autoimmune disorders.