Global Biosimilars Market is Projected to Reach US$ 9.5 Billion - Erie News Now | WICU & WSEE in Erie, PA

Global Biosimilars Market is Projected to Reach US$ 9.5 Billion By 2022

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The global biosimilars market is expected to exceed US$ 9.5 billion by 2022, registering a compound annual growth rate (CAGR) of more than 26% during the forecast period. The rising incidence of diseases, growing demand for biosimilar drugs due to their cost-effectiveness, increasing pressure to curtail healthcare expenditure, rising geriatric population, strategic collaborations resulting in enhanced productivity and clinical trial activities for biosimilars, and increasing government support and initiatives to develop and promote biosimilars are driving the market. However, the complexities in manufacturing and high costs, as well as innovative strategies by biologic drug manufacturers, are expected to hamper the growth of the market.

In this report, the global biosimilars market is segmented by product, application, and region. On the basis of product, the market is segmented into recombinant nonglycosylated proteins, recombinant peptides, and recombinant glycosylated proteins. The recombinant glycosylated proteins market is expected to witness the highest growth rate during the forecast period. On the basis of application, the market is segmented into oncology, blood disorders, growth hormone deficiency, chronic and autoimmune diseases, and infectious diseases. The market in the oncology segment is expected to witness the highest growth rate during the forecast period.

The global biosimilars market is segmented on the basis of key regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe is the largest biosimilars market. Furthermore, each region is segmented to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, India, Brazil, and GCC countries. The report includes a detailed study of the global and regional biosimilars market and analyzes the variations in the growth of the industry in certain regions.

A glimpse of the report structure is provided in the report description available on the website.

https://www.marketresearchengine.com/biosimilars-market-report

Sandoz International GmbH (Germany), Hospira, Inc. (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Dr. Reddy’s Laboratories (India), Biocon Limited (India), Mylan, Inc. (U.S.), Amgen (U.S.), Celltrion Inc. (South Korea), Roche Diagnostics (Switzerland), and Merck KGaA (Germany) are the most active players in the biosimilars market.

This report covers the biosimilars market, in terms of value, and forecasts the market size till 2022. In addition, the report identifies key growth segments and opportunities in the industry. This report also covers detailed competitive outlook including the share and company profiles of the key players in the global market. Company profile includes company summary, financial summary, business strategy and planning, SWOT analysis, and current developments.

The deep-dive study on the biosimilars market will help customers with the identification of new market opportunities and targeted promotional plans.

 

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Source: http://www.financeswire.com/global-biosimilars-market-is-projected-to-reach-us-9-5-billion-by-2022

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