Biosimilars Market to Witness the Highest Growth Globally in Coming Years
The market is driven by the rising prevalence of chronic
disease, growing investment in research and development by biopharmaceutical
organizations, vast pipeline of biosimilars, surging geriatric population, and
the cost-efficient nature of biosimilars as compared to approved drugs.
Based on technology, the biosimilars
market is classified into monoclonal antibody (mAb), bioassays, nuclear
magnetic resonance (NMR), recombinant deoxyribonucleic acid (rDNA), and
electrophoresis. Biosimilars manufactured using the mAb technology held 56.0%
share in the market in 2018. This technology is further anticipated to be the
fastest growing due to its large-scale deployment in the development of
therapeutics to treat various diseases, such as immunological, cancer, and
infections.
Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/biosimilars-market/report-sample
The biosimilars market is expected to observe the fastest
growth in North America, progressing at CAGR of 32.7% during the 2019–2024
period. This can be mainly attributed to the surging geriatric population,
increasing prevalence of chronic diseases, and growth in R&D investments.
Companies in North America have more freedom to price their
products as they want compared to other regions, and advanced technologies and
trained scientific personnel are readily available in here, which make it ideal
for pharmaceutical companies.
Some of the key players operating in the market, globally,
are Samsung Bioepis Co. Ltd., AMEGA Biotech, Synthon Holding B.V., Coherus
BioSciences Inc., Celltrion Inc., BIOCAD, Zydus Cadila, Teva Pharmaceutical
Industries Limited, Pfizer Inc., Novartis AG, Dr. Reddy’s Laboratories Ltd.,
and Mylan N.V.
Comments