Biosimilars & Follow-On-Biologics Market Demand Key Growth Opportunities, Development and Forecasts to 2024-2033

The biosimilars and follow-on biologics market is witnessing robust growth, driven by the increasing need for cost-effective biologic therapies, the rising prevalence of chronic diseases, and the patent expirations of blockbuster biologic drugs. Biosimilars, also known as follow-on biologics, are highly similar versions of original biologic medicines that have lost patent protection. They offer similar efficacy and safety profiles but are typically sold at lower prices, providing significant healthcare savings.

Several factors contribute to the expansion of this market:

1. Cost-Effectiveness and Healthcare Savings: Biosimilars are generally priced 15-30% lower than their reference biologics, leading to substantial cost savings for healthcare systems and patients. As healthcare budgets become increasingly strained, the adoption of biosimilars offers a viable solution to manage rising healthcare costs.
2. Patent Expirations of Biologic Drugs: The expiration of patents for several high-revenue biologic drugs has opened the market for biosimilars. Major biologics like rituximab, trastuzumab, and adalimumab have seen biosimilar versions enter the market, providing more treatment options and driving competition.
3. Rising Prevalence of Chronic Diseases: The increasing incidence of chronic diseases such as cancer, diabetes, autoimmune disorders, and rheumatoid arthritis fuels the demand for biologic therapies. Biosimilars offer more affordable treatment options, enhancing patient access to essential medications.
4. Regulatory Support and Streamlined Approval Processes: Regulatory agencies like the U.S. FDA and the European Medicines Agency (EMA) have established clear guidelines for the approval of biosimilars, ensuring they meet stringent safety, efficacy, and quality standards. Streamlined approval pathways encourage the development and market entry of biosimilars.
5. Growing Acceptance Among Healthcare Providers and Patients: As more biosimilars enter the market and demonstrate comparable clinical outcomes to reference biologics, confidence among healthcare providers and patients in using these therapies has increased. Educational initiatives and real-world evidence supporting the efficacy and safety of biosimilars are further boosting their adoption.
6. Expanding Market Penetration in Emerging Economies: Emerging markets are increasingly adopting biosimilars due to their lower cost and the growing burden of chronic diseases. Improved healthcare infrastructure and increasing healthcare expenditure in these regions are supporting the growth of the biosimilars market.
7. Strategic Collaborations and Partnerships: Pharmaceutical companies are engaging in collaborations, partnerships, and mergers to leverage each other’s strengths in biosimilar development, manufacturing, and commercialization. These strategic alliances are accelerating market growth and expanding product portfolios.

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Market Segmentations:

Global Biosimilars & Follow-on-biologics Market: By Company

Novartis (Sandoz)

Synthon Pharmaceuticals

Teva Pharmaceutical Industries

LG Life Sciences

Celltrion Biocon

Hospira

Merck Serono (Merck)

Biogen idec

Genentech (Roche)

Global Biosimilars & Follow-on-biologics Market: By Type

Human growth hormone

Erythropoietin

Monoclonal antibodies

Insulin

Interferon

Granulocyte-Colony Stimulating Factor

Others

Global Biosimilars & Follow-on-biologics Market: By Application

Blood Disorders

Oncology Diseases

Chronic and Autoimmune Diseases

Growth Hormone Deficiencies

Others

Global Biosimilars & Follow-on-biologics Market: Regional Analysis

The regional analysis of the global Biosimilars & Follow-on-biologics market provides insights into the market’s performance across different regions of the world. The analysis is based on recent and future trends and includes market forecast for the prediction period. The countries covered in the regional analysis of the Biosimilars & Follow-on-biologics market report are as follows:

North America: The North America region includes the U.S., Canada, and Mexico. The U.S. is the largest market for Cold-chain Pharma in this region, followed by Canada and Mexico. The market growth in this region is primarily driven by the presence of key market players and the increasing demand for the product.

Europe: The Europe region includes Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe. Germany is the largest market for Cold-chain Pharma in this region, followed by the U.K. and France. The market growth in this region is driven by the increasing demand for the product in the automotive and aerospace sectors.

Asia-Pacific: The Asia-Pacific region includes Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, and Rest of Asia-Pacific. China is the largest market for Cold-chain Pharma in this region, followed by Japan and India. The market growth in this region is driven by the increasing adoption of the product in various end-use industries, such as automotive, aerospace, and construction.

Middle East and Africa: The Middle East and Africa region includes Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and Rest of Middle East and Africa. The market growth in this region is driven by the increasing demand for the product in the aerospace and defense sectors.

South America: The South America region includes Argentina, Brazil, and Rest of South America. Brazil is the largest market for Cold-chain Pharma in this region, followed by Argentina. The market growth in this region is primarily driven by the increasing demand for the product in the automotive sector.

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 Key Questions Answered in This Report:

• How has the global Market performed so far and how will it perform in the coming years?
• What are the key regional Markets?
• What has been the impact of COVID-19 on the global Market?
• What is the breakup of the Market based on the type?
• What is the breakup of the Market based on the application?
• What is the breakup of the Market based on the manufacturing process?
• What is the breakup of the Market based on the price range?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global Market and who are the key players?
• What is the degree of competition in the industry?

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