Understanding the Oral Biologics & Biosimilar Drugs Market’s Growth Prospects from 2024 to 2033
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
2024-2033 Forecast: What is the Projected Growth Rate for the Oral Biologics & Biosimilar Drugs Market?
The market size for oral biologics and biosimilar drugs has seen a tremendous growth over the last few years. From $5.94 billion in 2023, it is projected to increase to $7.19 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 21.0%. This significant upsurge throughout the historical period can be linked to the increased occurrence of chronic illnesses, the heightened awareness of oral biologics, an upswing in patent expirations, and a growing requirement for biosimilars.
The size of the oral biologics & biosimilar drugs market is anticipated to witness a substantial growth spurt in the forthcoming years, reaching a staggering $13.32 billion in 2028 with a compound annual growth rate (CAGR) of 16.7%. This projected growth rate during the forecast period can be credited to elements such as targeted therapy, an increased emphasis on preventive medicine, heightened healthcare expenditure, and the aging population. The forecast period is also expected to present significant trends such as advancements in oral delivery technology, the introduction of orally administered biologics, innovation in biosimilars, and a patient-centric approach to care.
Claim Your Free Sample of the Global Oral Biologics & Biosimilar Drugs Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=3792&type=smp
What Are the Main Drivers Behind the Growth of the oral biologics & biosimilar drugs Market?
The oral biologics and biosimilar market is set to grow essentially due to the accelerating prevalence of chronic diseases such as arthritis, asthma, and cancer. Risk factors further contributing to such diseases include longer working hours, limited exercise, and subpar dietary and drinking routines. To combat these chronic conditions, biologics are progressively employed, acting by triggering the immune system to counter and eradicate cancer cells. A United Nations report predicts that by 2030, chronic diseases will account for 70% of global deaths while the worldwide percentage of chronic diseases is predicted to hit 60%. Subsequently, the escalating prevalence of chronic diseases is forecasted to surge the demand for biologics and biosimilars, hence, fueling the oral biologics & biosimilar drugs market expansion.
What Are the Primary Segments of the Oral Biologics & Biosimilar Drugs Market?
1) By Therapy: Lymphocyte Modulators, Interleukin Inhibitors, Tumor Necrosis Factor-Alpha Inhibitors
2) By Disease: Asthma, Crohn’s Disease, Carcinoma, Arthritis, Diabetes, Multiple Myeloma, Enterocolitis, Multiple Sclerosis, Sarcoma, Psoriasis and Others
3) By Molecule Type: Vaccines, Proteins & Peptides, Monoclonal Antibodies, Other Molecule Types
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Which Trends Are Revolutionizing the Oral Biologics & Biosimilar Drugs Market?
The current progression in the oral biologics and biosimilar market is the development of novel insulin biosimilars. The major contributors in the oral biologics and biosimilar market are endorsing resources into producing an equivalent of insulin. This, in turn, is fostering rivalry amongst different biosimilar manufacturers. For instance, Eli Lilly and Company, a US firm manufacturing oral biologics and biosimilar drugs, introduced their new insulin glargine biosimilar, Rezvoglar (insulin glargine-aglr), in April 2023. Insulin glargine products like these are commonly used for managing glucose levels in type 1 diabetes patients – adults, children, and infants, as well as type 2 diabetes adults.
Order Now for Fast Delivery of Your Oral Biologics & Biosimilar Drugs Market Report!
Which Geographical Regions Are Pioneering Growth in the Oral Biologics & Biosimilar Drugs Market?
North America was the largest region in the oral biologics and biosimilar drugs market in 2023. The Middle East is expected to be the fastest growing region in the oral biologics & biosimilar drugs market report during the forecast period. The regions covered in the oral biologics & biosimilar drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Oral Biologics & Biosimilar Drugs Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the oral biologics & biosimilar drugs market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Oral Biologics & Biosimilar Drugs Market Include
1. Oral Biologics & Biosimilar Drugs Market Executive Summary
2. Oral Biologics & Biosimilar Drugs Market Segments
3. Oral Biologics & Biosimilar Drugs Market Size And Template Market Growth Rate
4. Key Oral Biologics & Biosimilar Drugs Market Trends
5. Major Oral Biologics & Biosimilar Drugs Market Drivers
……
25. Key Mergers And Acquisitions In The Oral Biologics & Biosimilar Drugs Market
26. Top Oral Biologics & Biosimilar Drugs Companies
27. Oral Biologics & Biosimilar Drugs Market Opportunities And Strategies
28. Oral Biologics & Biosimilar Drugs Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Dental Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/dental-services-global-market-report
Dental Practice Management Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/dental-practice-management-global-market-report
Dental X-Ray Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/dental-x-ray-equipment-global-market-report
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
