The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest biosimilars market share, and Middle East was the fastest-growing region in 2022.

The global biosimilars market is expected to grow from $19.1 billion in 2022 to $23.28 billion in 2023 at a compound annual growth rate (CAGR) of 21.9%. The biosimilars market is expected to grow from $47.82 billion in 2027 at a CAGR of 19.7%.

Major Driver In The Biosimilars Market ­– Rise In The Prevalence Of Chronic Diseases Such As Arthritis, Asthma, And Cancer
According to a United Nations report, the share of global fatalities caused by chronic diseases is anticipated to reach 70% by 2030. The worldwide burden of chronic disease is estimated to be around 60% by 2050. As a result, the rising frequency of chronic diseases is expected to drive demand for biosimilars, hence propelling the biosimilars market.

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Key Biosimilars Market Segments
1) By Product: Recombinant Non-glycosylated Proteins, Recombinant Glycosylated Proteins
2) By Types: Human Growth Hormone, Erythropoietin, Monoclonal antibodies, Insulin, Interferon, Granulocyte-Colony Stimulating Factor, Other Types
3) By Application: Oncology, Chronic and Autoimmune Diseases, Growth Hormone Deficiency, Infectious Diseases, Other Applications

Recent Biosimilars Market Trend – Production Of New Insulin Biosimilars
The leading players in the biosimilars industry are investing in the development of an insulin biosimilar. This also encourages competition among biosimilar makers. For example, in August 2020, Biocon Biologics India Ltd., an India-based fully integrated global biosimilars organisation, launched Semglee, insulin glargine injection in the United States in collaboration with Mylan, a US-based biosimilar company, to help lower blood sugar levels in adults with type 2 diabetes and children with type 1 diabetes.

Biosimilars Market Prominent Players
Major players in the biosimilars market are Pfizer, Amgen, Biocon, Celltrion, Dr. Reddy’s Laboratories, Boehringer Ingelheim, Elli Lilly and Company, Mylan N.V., Sanofi, STADA Arzneimittel, Sandoz International, Samsung Bioepis, Teva Pharmaceuticals, Apotex, AMEGA Biotech S.A., Bioton S.A., Innovent Biologics International, Allergan PLC., BioXpress Therapeutics, 3SBio, Intas Biopharmaceuticals, Lupin Merck, Novartis, Ratiopharm, Wockhardt, Zydus Cadila, Allergan PLC., Hospira International., Actavis International., Johnson & Johnson and Roche.

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The Biosimilars Global Market Report 2023  provides a comprehensive overview on the biosimilars market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Biosimilars are drugs derived from living organisms, however they can be manufactured in a variety of methods and with somewhat different components. Biosimilars are fundamentally different from generic medications due to the complexity and expensive expense of their development, as well as their molecular size and structure.

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