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Global Biosimilar Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220
  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Biosimilar Market, By Product Type (Magnetic Resonance Imaging Scanners, Computed Tomography Scanners, Position Emission Tomography Scanners, Biosimilar (EEG), Electromyography Devices (EMG), Magnetoencphalography Devices, Transcranial Doppler Devices, Intracranial Pressure Monitors (ICP), Electrodes, Sensors, Gels and Cables), Drug Class (Insulin, Recombinant Human Growth Hormone (RHGH), Granulocyte Colony-Stimulating Factor, Interferon, Erythropoietin, Etanercept, Monoclonal Antibodies, Follitropin, Glucagon, Calcitonin, Teriparatide, Enoxaparin Sodium), Type of Manufacturing (In-House Manufacturing and Contract Manufacturing), Procedure (Invasive and Non-Invasive), Disease (Stroke, Dementia and Epilepsy), Indication (Atrial Septal Defect (ASD), Ventricular Septal Defect (VSD), Patent Foramen Ovale (PFO), Aortic Valve Stenosis and Others), Therapy Type (Oncology, Immunology, Haematology, Hormone Therapy, Metabolic Disorders, and Others), End Users (Hospitals, Clinics, Diagnostic Centres and Others)– Industry Trends and Forecast to 2029

Biosimilar Market

Market Analysis and Size

Rising number of research and development proficiencies have led to the rise in the availability of bio similar. Moreover, increased focus of food and drug administration on improving the penetration of Biosimilar is further helping the market to expand its roots.  

  • Data Bridge Market Research analyses that the Biosimilar market is expected to undergo a CAGR of 32.00% during the forecast period of 2022-2029. This indicates that the market value, which was USD 37,270.20 million in 2021, would rocket up to USD 343,520.90 million by 2029. “Oncology” dominates the therapy type segment of the Biosimilar market owing to the increase in number of research studies, increasing research and development activities by key players focused on oncology and advancements in healthcare technologies. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Biosimilar or follow-on-biologics that are almost an identical copy of an original product but however, is manufactured by another company. Biosimilar is used to treat a wide range of chronic and acute diseases and disorders. Biosimilar is are used to record electrical action produced by the human brain. 

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Magnetic Resonance Imaging Scanners, Computed Tomography Scanners, Position Emission Tomography Scanners, Biosimilar (EEG), Electromyography Devices (EMG), Magnetoencphalography Devices, Transcranial Doppler Devices, Intracranial Pressure Monitors (ICP), Electrodes, Sensors, Gels and Cables), Drug Class (Insulin, Recombinant Human Growth Hormone (RHGH), Granulocyte Colony-Stimulating Factor, Interferon, Erythropoietin, Etanercept, Monoclonal Antibodies, Follitropin, Glucagon, Calcitonin, Teriparatide, Enoxaparin Sodium), Type of Manufacturing (In-House Manufacturing and Contract Manufacturing), Procedure (Invasive and Non-Invasive), Disease (Stroke, Dementia and Epilepsy), Indication (Atrial Septal Defect (ASD), Ventricular Septal Defect (VSD), Patent Foramen Ovale (PFO), Aortic Valve Stenosis and Others), Therapy Type (Oncology, Immunology, Haematology, Hormone Therapy, Metabolic Disorders, and Others), End Users (Hospitals, Clinics, Diagnostic Centres and Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Novartis AG (Switzerland), Orion Pharma AB (Sweden), Pfizer Inc. (US), Samsung Bioepis. (South Korea), Coherus BioSciences, Inc. (US), Amgen Inc. (US), Eli Lilly And Company. (US), Takeda Pharmaceutical Company Limited. (Japan), Bristol-Myers Squibb Company (US), Merck KGaA (Germany), Teva Pharmaceutical Industries Ltd. (US), Biocon. (India), Bayer AG (Germany), AbbVie Inc. (US), Allergan (Ireland), Dr. Reddy’s Laboratories Ltd. (India), Boehringer Ingelheim International GmbH. (Germany) and Biogen (US)

 

Biosimilar Market Dynamics

Drivers

  • The rise in the prevalence of diseases

Surging prevalence of chronic and acute diseases all around the globe owing to various internal and external factors is one of the major factors responsible for fostering growth of the market. Rising patient pool especially in the developing economies coupled with growing cases of Hodgkin's lymphoma, chronic lymphocytic leukemia, granulomatosis with polyangiitis, and microscopic polyangiitis is carving the way for the growth of the market.

  • Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies have led to the advancements in the medical technology and have improved the quality of healthcare facilities.  Increasing number of screening tests for research proficiencies has further widened the scope of growth.

  • Government investments on healthcare infrastructure

The increase in the funding by the federal government is set to drive the growth of the market. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative personal health devices market growth opportunities. Also, growing acceptance of bioidentical hormones replacement therapy by the governmental healthcare facilities is also bolstering the market growth rate.

Additionally, surge in the personal disposable income level, introduction of technologically driven product in hospitals and increasing investment for the development of advanced and rise in focus on women health care and treatment of hormonal imbalances, positively affect the market growth rate.

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, increasing need for improvised healthcare services owing to imbalance between health workforce and patients and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, growing prevalence of cancer, rising lifestyle changes, increased stress and work pressure, irregular eating habits, and lack of exercise, growing number of hospitals and laboratories, rising geriatric population base, rising number of cross-industry partnerships and collaborations and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges

On the other hand, high cost associated with the research and development proficiencies, high manufacturing costs and difficulties related with the medical procedures are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, lack of definitive standards for approval and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.

This Biosimilar market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Biosimilar market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Biosimilar Market

COVID-19 has had a negative impact on the market. Reduced focus on non-essential medical procedures and postponement of healthcare procedures has put a dent on the market growth rate. Moreover, halt on the number of research and development proficiencies further restricted the scope of growth in the pandemic phase.  

Recent Developments

  • In July 2020, the FDA approved the adalimumab biosimilar, Hulio, developed by Fujifilm Kyowa Kirin Biologics, which is indicated for the subcutaneous treatment of rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, adult Crohn disease, ulcerative colitis, and plaque psoriasis.
  • In May 2020, Fresenius Kabi received the acceptance of the regulatory submissions for its proposed pegfilgrastim biosimilar (MSB11455) by both the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA), respectively.

Global Biosimilar Market Scope

The Biosimilar market is segmented on the basis of product type, drug class, type of manufacturing, procedure, disease, indication, therapy type and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

  • Magnetic Resonance Imaging Scanners
  • Computed Tomography Scanners
  • Position Emission Tomography Scanners
  • Biosimilar (EEG)
  • Electromyography Devices (EMG)
  • Magnetoencphalography Devices
  • Transcranial Doppler Devices
  • Intracranial Pressure Monitors (ICP)
  • Electrodes
  • Sensors
  • Gels
  • Cables

Based on product type, Biosimilar market is segmented into MRI scanners, CT scanners, PET scanners, Biosimilar (EEG), electromyography devices (EMG), MEG devices, TCD devices, intracranial pressure monitors (ICP), electrodes, sensors, gels and cables.

Drug class

  • Insulin
  • Recombinant Human Growth Hormone (RHGH)
  • Granulocyte Colony-Stimulating Factor
  • Interferon
  • Erythropoietin
  • Etanercept
  • Monoclonal Antibodies
  • Follitropin
  • Glucagon
  • Calcitonin
  • Teriparatide
  • Enoxaparin Sodium

On the basis of drug class, the Biosimilar market is segmented into insulin, recombinant human growth hormone (RHGH), granulocyte colony-stimulating factor, interferon, erythropoietin, etanercept, monoclonal antibodies, follitropin, glucagon, calcitonin, teriparatide and enoxaparin sodium. Monoclonal antibodies segment is sub-segmented into rituximab, infliximab, adalimumab, trastuzumab and other monoclonal antibodies.

Type of manufacturing

  • In-House Manufacturing
  • Contract Manufacturing

On the basis of type of manufacturing, the Biosimilar market is segmented into in-house manufacturing and contract manufacturing.

Procedure

  • Invasive
  • Non-Invasive

Based on procedure, Biosimilar market is segmented into Invasive and non-invasive.

Disease

  • Stroke
  • Dementia
  • Epilepsy

On the basis of disease, the Biosimilar market is segmented into stroke, dementia and epilepsy.

Indication

  • Atrial Septal Defect (ASD)
  • Ventricular Septal Defect (VSD)
  • Patent Foramen Ovale (PFO)
  • Aortic Valve Stenosis
  • Others

On the basis of indication, the Biosimilar market is segmented into atrial septal defect (ASD), ventricular septal defect (VSD), patent foramen ovale (PFO), aortic valve stenosis and others.

Therapy type

  • Oncology
  • Immunology
  • Haematology
  • Hormone Therapy
  • Metabolic Disorders
  • Others

On the basis of therapy type, the Biosimilar market is segmented into oncology, immunology, haematology, hormone therapy, metabolic disorders, and others.

End users

  • Hospitals
  • Clinics
  • Diagnostic Centres
  • Others

On the basis of end users, the Biosimilar market is segmented into hospitals, clinics, diagnostic centres and others.

Biosimilar Market Regional Analysis/Insights

The Biosimilar market is analysed and market size insights and trends are provided by country, product type, drug class, type of manufacturing, procedure, disease, indication, therapy type and end users as referenced above.

The countries covered in the Biosimilar market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the Biosimilar market because of the strong base of healthcare facilities, availability of reimbursements, rising geriatric population, high healthcare spending combined with the onset of COVID-19 pandemic and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, ever-rising geriatric population base and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The Biosimilar market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Biosimilar market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Biosimilar market. The data is available for historic period 2010-2020.

Competitive Landscape and Biosimilar Market Share Analysis

The Biosimilar market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Biosimilar market.

Some of the major players operating in the Biosimilar market are Novartis AG (Switzerland), Orion Pharma AB (Sweden), Pfizer Inc. (US), Samsung Bioepis. (South Korea), Coherus BioSciences, Inc. (US), Amgen Inc. (US), Eli Lilly and Company. (US), Takeda Pharmaceutical Company Limited. (Japan), Bristol-Myers Squibb Company (US), Merck KGaA (Germany), Teva Pharmaceutical Industries Ltd. (US), Biocon. (India), Bayer AG (Germany), AbbVie Inc. (US), Allergan (Ireland), Dr. Reddy’s Laboratories Ltd. (India), Boehringer Ingelheim International GmbH. (Germany) and Biogen (US) among others.


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Frequently Asked Questions

The Biosimilar Market Value was 37,270.2 Million in 2021.
The Biosimilar Market is Projected to Grow at a CAGR of 32.00%.
Factors such as the rapid increase in geriatric population, rise in screening for hormonal deficiency, increase in the patient pool and increasing personal disposable income are the major growth driving factors.
Novartis AG (Switzerland), Orion Pharma AB (Sweden), Pfizer Inc. (US), Samsung Bioepis. (South Korea), Coherus BioSciences, Inc. (US), Amgen Inc. (US), Eli Lilly And Company. (US), Boehringer Ingelheim International GmbH. (Germany) and Biogen (US) are the major companies operating in this region.
The Major Countries Covered in Biosimilar Market are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.