According to IMARC Group's recently published report titled “ Global Biosimilar Market Size, Share, Growth, Opportunity and Forecast 2020-2025 ”, the market is further projected to reach US $ 24.5 Billion by 2025, growing at a CAGR of nearly 30% during the next five years.

A biosimilar is a biotherapeutic product that has medicinal properties and efficacy like that of a branded biological drug. It is manufactured as an authorized replacement of a biological drug that has an expired patent. Biosimilars include capsules and vaccines with ingredients, such as insulin, erythropoietin , interferon, monoclonal antibodies (MABS), granulocyte colony-stimulating elements and plasma-derived recombinant factors. Unlike generic drugs, biosimilars are more cost-intensive as they involve complex manufacturing and approval processes.

Some of the major players operating in the industry include:

Novartis (NYSE: NVS)
Pfizer (NYSE: PFE)
Teva
Celltrion
Merck & Co
Samsung Bioepis
Eli Lilly
Biocon
Amgen
Dr. Reddy's Laboratories
Boehringer Ingelheim

The global market is primarily driven by the increasing prevalence of chronic disorders, such as cancer, cardiovascular and autoimmune ailments, across the globe. Further, the development of biosimilars using recombinant DNA technology for enhancing the product's quality and efficiency is another factor contributing to the market growth. Other factors, including increasing product acceptance rates among patients and healthcare providers, subsidies offered by governments of various nations for the production of biosimilars and extensive research and development (R & D) in the field of biotechnology, are projected to drive the market further ..

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Biosimilar Market Segmentation:

Market Breakup by Molecule

1. Infliximab
2. Insulin Glargine
3. Epoetin Alfa
4. Etanercept
5. Filgrastim
6. Somatropin
7. Rituximab
8. Follitropin Alfa

Market Breakup by Type of Manufacturing

1. In-house Manufacturing
2. Contract Manufacturing

Market Breakup by Indication

1. Auto-Immune Diseases
2. Blood Disorder
3. Diabetes
4. Oncology
5. Growth Deficiency
6. Female Infertility

Market Breakup by Region

1. Europe
2. United States
3. Japan
4. India
5. South Korea
6. Rest of the World

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