Biosimilars Market worth $44.7 billion by 2026
The report "Biosimilars Market Size, Growth by Product (Monoclonal antibodies (infliximab, rituximab, trastuzumab), Insulin, Interferon, Etanercept, Glucagon, Calcitonin), Indication (Oncology, Chronic Disease, Blood Disorder, Autoimmune Disease), Region - Global Forecast to 2026 is projected to reach USD 44.7 billion by 2026, at a CAGR of 23.5%.
Browse 137 market data Tables and 46 Figures spread through 253 Pages and in-depth TOC on "Biosimilars Market – Global Forecast to 2026 "
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The monoclonal antibodies segment accounted for the largest share of the product segment in the biosimilars market.
On the basis of the product, the biosimilars market is segmented into monoclonal antibodies, insulin, granulocyte colony-stimulating factor, erythropoietin, recombinant human growth hormone, etanercept, follitropin, teriparatide, interferons, enoxaparin sodium, glucagon and calcitonin. The monoclonal antibodies product segment accounted for the largest share. Monoclonal antibodies and Insulin are seen to be the leading segments with respect to the growth rate during the forecast period due to the major factors such as increasing demand for cost-effective treatment options and wide applications of monoclonal antibodies in the treatment of cancer, autoimmune disorders and osteoporosis are driving the market.
The oncology segment accounted for the largest share of the indication segment in the biosimilars market
On the basis of the indication, the biosimilars market is segmented into oncology, inflammatory and autoimmune diseases; chronic diseases, blood disorders; growth hormone deficiency; infectious diseases and other indications (infertility, hypoglycemia, myocardial infarction, postmenopausal osteoporosis, chronic kidney failure, and ophthalmic diseases). In 2020, Oncology accounted for the largest share of the market. Factors such as increasing incidences of cancer coupled with the rising adoption of biosimilars in cancer treatments is driving the market.
The Asia Pacific region is the fastest-growing region of the biosimilars market.
On the basis of region, the biosimilars market is broadly segmented into Europe, the Asia Pacific, North America, Latin America and Middle East and Africa. Europe is the largest regional market for biosimilars; the Asia Pacific is the second-largest regional market. Factors such as the launch of new biosimilars, the rising incidence of chronic disorders, the emergence of new players and early entry into the market, less-stringent regulations, and increasing cooperation among leading and regional players for development, manufacture and commercialization of biosimilars are driving growth in these regions.
Key players in the biosimilars market include Novartis AG (Switzerland), Pfizer, Inc. (US), Dr. Reddy’s Laboratories Ltd. (India), Amgen, Inc. (US) and Eli Lilly and Company (US).
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