Biosimilars Market by Type (Human growth hormone, Erythropoietin, Monoclonal antibodies, Insulin, Granulocyte-Colony Stimulating Factor, Others), by Application (Blood disorders, Oncology diseases, Chronic and autoimmune diseases, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.
The global biosimilars industry was estimated at $15.9 billion in 2021, and is anticipated to hit $143.6 billion by 2031, registering a CAGR of 24.7% from 2022 to 2031.
Covid-19 scenario-
- The COVID-19 pandemic created difficulties for the pharmaceutical industry to focus on R&D activities including biosimilar development, which impacted the global biosimilars market negatively.
- Moreover, there was a delay in product approvals and product launches, owing to the global health crisis, which further restricted the expansion of the market.
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Europe garnered the major share in 2021-
Based on region, Europe held the major share in 2021, generating nearly two-fifths of the global biosimilars market. At the same time, the same region would also grow at the fastest CAGR of 25.9% by 2031. This is attributed to rise in the prevalence of cancer and increase in launches of multiple biosimilars in the region.
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
Key players in the industry-
- Exxon Mobil Corporation
- Haihang Industry Co., Ltd.
- Kent elastomer products
- Kuraray Co.
- Shell,Ltd.
- SIBUR
- Dupont
- The Goodyear Tire & Rubber Company
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Important Questions Being Answered by the Market Report
- What is the Biosimilars Market size and growth?
- What are the prominent and latest trends impacting the market?
- Which regions will observe growth on new occasions?
- Which players are adopting a functioning and planned framework to obtain customer loyalty?
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