Pfizer, Inc. (US) and Novartis AG (Switzerland) are Leading Players in the Biosimilars Market
The biosimilars market is estimated to reach USD 66.9 billion by 2028 from USD 29.4 billion in 2023, at a CAGR of 17.8% during the forecast period. The growth of this market is mainly driven by rising demand for biosimilars in developed and developing countries, favorable reimbursement policies and launch of novel biosimilars in the market.
The prominent players operating in the biosimilars market are 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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Pfizer Inc (US)
Pfizer Inc. is one of the dominant player in the global biosimilars market. The dominance of the market is mainly due to its strong market performance and wide geographical coverage. The company’s foothold in the market is primarily driven by its strong product portfolio, strong R&D, and ability to expand the penetration of its offerings. Pfizer has registered significant growth in the biopharma industry and is present in all major markets, including the US and Europe. The company focuses on geographic expansions, product launches, and collaborations to increase its presence and customer base.
Novartis AG (Switzerland)
Novartis AG is one of the leading players in biosimilars market. It has a strong market foothold and a robust product pipeline. It has several biosimilars approved for use in Europe and is currently seeking approval for biosimilars in the US. Novartis has biosimilars of Neulasta, Enbrel, and Rituxan. The company focuses on mergers, collaborations, and acquisitions to retain its dominant share in the biosimilars marke
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Biosimilars Market by Drug Class (Drug Class (Monoclonal Antibodies (Adalimumab, Infliximab, Rituximab, Trastuzumab), Insulin, Erythropoietin, Anticoagulants. rhGH), Indication, Region – Global Forecast to 2028
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