Analyzing Biosimilars & Follow-on-biologics Market: Global Industry Perspective and Forecast (2024 to 2031)
The "Biosimilars & Follow-on-biologics Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Biosimilars & Follow-on-biologics market is expected to grow annually by 12.8% (CAGR 2024 - 2031).
This entire report is of 110 pages.
Biosimilars & Follow-on-biologics Introduction and its Market Analysis
The Biosimilars & Follow-on-biologics market research report highlights the increasing demand for cost-effective alternatives to expensive biologic drugs. Major factors driving revenue growth in this market include patent expirations of biologics, increasing healthcare expenditures, and favorable government regulations. Companies like Novartis (Sandoz), Synthon Pharmaceuticals, and Teva Pharmaceutical Industries are leading players in this market, with strong market presence and robust product portfolios. The report emphasizes the importance of strategic collaborations, regulatory compliance, and market expansion for companies to capitalize on the growing opportunities in the Biosimilars & Follow-on-biologics market. Key recommendations include investing in research and development, expanding product offerings, and establishing strong distribution networks.
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The biosimilars and follow-on-biologics market is experiencing significant growth with a variety of products such as human growth hormone, erythropoietin, monoclonal antibodies, insulin, interferon, granulocyte-colony stimulating factor, and others. These products are used in a range of applications including blood disorders, oncology diseases, chronic and autoimmune diseases, growth hormone deficiencies, and others.
Regulatory and legal factors play a key role in shaping the market conditions for biosimilars and follow-on-biologics. The approval process for these products requires stringent testing to ensure they are as safe and effective as their reference biologics. Companies must also navigate patent and exclusivity laws to bring their products to market. In addition, healthcare policies and reimbursement systems can impact the adoption and uptake of biosimilars.
Overall, the biosimilars and follow-on-biologics market is poised for growth as more biologics come off patent and the demand for cost-effective alternatives increases. Companies that can successfully navigate the regulatory and legal landscape will be well-positioned to capitalize on the opportunities in this rapidly evolving market.
Top Featured Companies Dominating the Global Biosimilars & Follow-on-biologics Market
The biosimilars and follow-on biologics market is highly competitive with several key players dominating the global landscape. Novartis through its subsidiary Sandoz is a major player, focusing on the development and commercialization of biosimilars worldwide. Synthon Pharmaceuticals, Teva Pharmaceutical Industries, LG Life Sciences, Celltrion, Biocon, Hospira, Merck Serono, Biogen idec, and Genentech are also significant players in this market.
These companies leverage their expertise in biotechnology and pharmaceuticals to develop high-quality biosimilar products that are highly similar to the reference biologics but at a lower cost. By offering more affordable treatment options, they help to expand access to essential biologic therapies for patients worldwide.
Novartis (Sandoz) has seen significant success in the biosimilars market, with sales revenue reaching billions of dollars annually. Teva Pharmaceutical Industries and Celltrion are also major players in the biosimilars market, with substantial revenues generated from the sales of their biosimilar products.
Through strategic partnerships, investments in research and development, and regulatory approvals, these companies are driving growth in the biosimilars and follow-on biologics market. Their contributions help to create a more competitive market, fostering innovation and increasing patient access to life-saving biologic therapies. As the demand for biosimilars continues to rise, these companies are well-positioned to capture a larger share of the market and drive further growth in the industry.
- Novartis (Sandoz)
- Synthon Pharmaceuticals
- Teva Pharmaceutical Industries
- LG Life Sciences
- Celltrion Biocon
- Hospira
- Merck Serono (Merck)
- Biogen idec
- Genentech (Roche)
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Biosimilars & Follow-on-biologics Market Analysis, by Type:
- Human growth hormone
- Erythropoietin
- Monoclonal antibodies
- Insulin
- Interferon
- Granulocyte-Colony Stimulating Factor
- Others
Biosimilars and follow-on-biologics are gaining traction in the market across various therapeutic areas such as human growth hormone, erythropoietin, monoclonal antibodies, insulin, interferon, granulocyte-colony stimulating factor, and others. These types of biosimilars offer cost-effective alternatives to their reference biologics, leading to increased demand in the market. Biosimilars and follow-on-biologics provide healthcare providers and patients with more treatment options, potentially lowering healthcare costs and improving access to essential medications. The growing acceptance of biosimilars as safe and effective alternatives to branded biologics is expected to further fuel the demand for these types of products in the market.
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Biosimilars & Follow-on-biologics Market Analysis, by Application:
- Blood Disorders
- Oncology Diseases
- Chronic and Autoimmune Diseases
- Growth Hormone Deficiencies
- Others
Biosimilars and follow-on-biologics are used in various applications such as blood disorders, oncology diseases, chronic and autoimmune diseases, growth hormone deficiencies, and others. They are used as more affordable alternatives to expensive biologic drugs, providing access to life-saving treatments for a wider population. The fastest growing application segment in terms of revenue is oncology diseases, as the demand for biosimilars and follow-on-biologics in this area continues to rise due to the increasing prevalence of cancer and the need for more cost-effective treatment options.
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Biosimilars & Follow-on-biologics Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The biosimilars and follow-on biologics market is expected to experience significant growth across various regions. In North America, the United States and Canada are anticipated to dominate the market due to favorable regulatory policies and increasing investments in biosimilars. In Europe, countries like Germany, France, the ., and Italy are projected to be key players in the market. In Asia-Pacific, China, Japan, South Korea, and India are expected to witness rapid growth in the market. Latin America, Middle East & Africa regions are also projected to contribute significantly to the market growth. Overall, North America is expected to hold the largest market share, followed by Europe and Asia-Pacific. The market share percent valuation is estimated to be around 40% for North America, 30% for Europe, 20% for Asia-Pacific, and the remaining 10% for Latin America, Middle East & Africa.
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