Biosimilars Market Size and Growth Analysis 2023.Posted by Balavardhan on July 8th, 2019 Market Overview: Biosimilars Market was worth USD2,552.0 million in 2018 and is estimated to reach USD26,551.3 million by 2023, supported by a CAGR of 49.1% throughout the forecast period 2018 to 2023. Biosimilars or follow-on-biologics are the “copied” and licensed versions of those reference biologics that have undergone patent expiration. Biosimilars development and validation with reference biologics is a major aspect of the overall development process. Market drivers and restraints: The market is driven by factors such as the increasing prevalence of chronic diseases such as cancer and diabetes, boost the rising demands of pharmaceutical drugs, particularly for the high-priced patented drugs. Nevertheless, the market expansion is restricted by the high price of reference products elevates the financial burden on patients as well as compensation service providers. The lack in economies of scale owing to lower demand is a factor that leads to these high prices. On the other hand, the strict government rules in the U.S. are poised to restrict the expansion of the North America market. To know more, click on the link below: https://www.marketdataforecast.com/market-reports/biosimilars-market Report segmented as: By Type:
Geographical Analysis: Based on geography, the biosimilars market is segregated into North America, Europe, Asia-Pacific, and LAMEA. The Asia Pacific and LAMEA exhibit a significant scale demand for biosimilars owing to the rising prevalence of chronic diseases in these regions. Europe is estimated to dominate the world biosimilars market and account for a significant share in the next coming years. Moreover, the promising opportunities for the major players in the developing economies are expected to boost the expansion of the biosimilars market in the Asia Pacific in the next few years. Important market players: The key players operating in the world biosimilars market are Novartis (Sandoz), Synthon Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., LG Life Sciences, Celltrion, Biocon, Hospira, Merck Serono (Merck Group), Biogen idec, Inc., and Genentech (Roche Group). View a sample and decide @ https://www.marketdataforecast.com/market-reports/biosimilars-market/request-sample The Scope of the report: This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors. Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence, and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/ Like it? Share it! More by this author |