Biosimilars Market Size Worth USD 41.7 Billion By 2024: Grand View Research, Inc.
The biosimilars market is expected to reach USD 41.7
billion by 2024, according to a new report by Grand View Research, Inc. The
global biosimilars market is anticipated to witness a marked growth during the
period of 2016 to 2024. The most significant factor leading to the growth of
this industry is the fact that major biological drugs are nearing the patent
cliff. Further, the lower cost of these drugs as compared to the patented
biologics, the increasing encumbrance to cut down healthcare costs across the
medical systems in the world, and the favorable clinical outcomes demonstrated
through clinical trials for the biosimilar drugs is expected to boost the
industry.
For the purpose of this study, the
major countries considered are the U.S., Canada, the UK, Germany, India, China,
Brazil, and Russia. It was estimated that in 2015, Europe accounted for the
largest market share of the global biosimilars market, followed by Asia
Pacific.
The industry is segmented on the
basis of type of products and applications. With regard to the product type,
the recombinant non-glycosylated segment is projected to flourish rapidly
during the study period. On the other hand, the recombinant glycosylated
proteins segment is estimated to grow at a significant CAGR during the period
2015 to 2024 due to the increasing, wide spread incidence of cancer cases (24
million by 2035), which is identified as the crucial factor driving the growth
of this sector.
Browse full research report on Biosimilars
Market: http://www.grandviewresearch.com/industry-analysis/biosimilars-market
Further key findings from the
study suggest:
·
North America is anticipated to be the fastest
growing market during the forecast period. The biosimilars market has gained
significant momentum in the U.S., presenting new opportunities for R&D and
the manufacturing sector of biosimilars.
·
The European market is the most advanced one as
it has been the first to formulate a regulatory pathway and adopt the use of
biosimilars for more than 8 years now. Germany accounts for the maximum share
in the biosimilars industry, followed by the rest of the European countries
(UK, France, Spain, and Italy).
·
The Asia Pacific market is expected to witness a
lucrative growth during the period 2015 to 2024. India and China are the key
countries identified that are expected to lead the industry growth in the study
period.
·
The market for oncology is estimated to soar at
a rapid pace in accordance with the increasing incidence of cancer cases in the
world. Additionally, the demand for cost-effective cancer treatments is
expected to further fuel the industry growth.
·
The biosimilars market comprises several local
as well as global players. Some major players of this market include Amgen,
Inc., Beacon Ltd., Tea Pharmaceutical Industries Ltd., Merck & Co., Milan,
Inc., Dr. Reddy’s Laboratories, Inc., Sandoz, Inc., and Celltrion Healthcare
Co., Ltd.
Browse more reports of this
category by Grand View Research: http://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented
the global biosimilars market on the basis of end-user, application, and
region:
Biosimilars Market, by Product
(Revenue, USD Million, 2013 - 2024)
·
Recombinant Non-Glycosylated Proteins
o Insulin
o Human
Growth Hormones
o Granulocyte
Colony-stimulating Factor (G-CSF)
o Interferons
·
Recombinant Glycosylated Proteins
o Erythropoietin
o Monoclonal
Antibodies
o Follitropin
Biosimilars Market, by
Application (Revenue, USD Million, 2013 - 2024)
·
Oncology
·
Blood Disorders
·
Growth Hormone Deficiency
·
Chronic and Autoimmune Disorders
·
Others
Biosimilars Market, by Region
(Revenue, USD Million, 2013 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o UK
o Germany
·
Asia Pacific
o China
o India
·
Rest of the World
o Brazil
o Russia
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-biosimilars-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
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