Biosimilars Market to surpass 27%+ CAGR up to 2025
MarketStudyReport.com Adds New Biosimilars Market Size 2019 – 2025 research report providing information and data By Product, By Application, By Technology, Industry Analysis, Regional Outlook, Application Potential, Trends, Competitive Market Share & Forecast spreading across 600 Pages with table and figures in it.
Selbyville, Delaware – May 31, 2019 /MarketersMedia/ —
U.S. dominated the North America biosimilars market and is estimated to witness significant growth at 38.1% over the forecast period. Presence of new technology, state-of-art facilities for biosimilar production, established and big pharma players market presence has resulted in the U.S. capturing majority market share of the North America biosimilars market. Also, recent biosimilar approvals by FDA in the year 2015 will result in rapid biosimilar adoption, augmenting the market growth. During the forecast years, it will witness significant growth owing to relatively low addressable needs.
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Biosimilars Market will exceed USD 69 billion by 2025; as per a new research report. Growing prevalence of chronic disorders across the globe, especially in developing regions of Asia Pacific and Latin America owing to rise in sedentary lifestyle among the population and growing habit of fast food consumption will result in growing number of people suffering from such diseases. Hence, increased prevalence rate in developed as well as in certain areas in developing nations will augment the demand and adoption rate of biosimilar drugs, fueling the business growth.
Application of biosimilars is highest in hematology segment resulting in major market share. The hematology segment accounted for around USD 4,552.1 million revenue in the year 2018. As per the American Society of Hematology, around 3 million American suffer from anemia. Increase in number of people suffering from blood disorders such as neutropenia, anemia etc. will boost the sales of biosimilars.
Development of biosimilars by recombinant DNA technology (rDNA technology) held over 80% market share and was valued at USD 8,123.6 million in the year 2018. Biosimilar products such as human growth hormones, insulin, erythropoietin etc. are manufactured using recombinant DNA technology. The use of rDNA technology improves the capability of the biosimilars to treat ailment immediately and efficiently. Hence, manufacturers use the recombinant DNA technology in order to manufacture biosimilar products.
Biosimilars market is estimate to growth at a significant rate over the forecast period. Biosimilars are estimated to play a substantial role in enhancing public health issue by addressing the customer needs. It is estimated that biosimilars would result in total potential savings of around over USD 100 billion by the year 2020. Increase in demand for biosimilar drugs in order to reduce the healthcare cost will be one of the major markets boosting factors.
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Amgen, Biocon, Biogen, Boehringer Ingelheim, Celltrion, Coherus BioSciences are some of the major industry participants operating in the global biosimilars market. Various firms are entering in less addressed and high potential geographies in order to expand their industry presence. Also, introduction and development of several biosimilar drug in developing countries by major local companies will result in augmenting the market growth.
Table of Contents:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Biosimilars Industry Insights
Chapter 4. Biosimilars Market, By Product
Chapter 5. Biosimilars Market, By Application
Chapter 6. Biosimilars Market, By Manufacturer)
Chapter 7. Biosimilars Market, By Technology
Chapter 8. Biosimilars Market, By Region
Chapter 9. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/biosimilars-market
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