- Demand for recombinant non-glycosylation proteins in biosimilars market rising on back of need for advanced and affordable treatments for chronic diseases worldwide; application of cutting-edge technologies to expand avenues
- Patent expiry of several important biological drugs to spur revenue potential in biosimilar production; Europe emerged as remarkably lucrative market and will continue to witness profitable opportunities
ALBANY, N.Y., June 13, 2022 /PRNewswire/ -- The market value of the biosimilars is steadily growing due to their growing acceptance worldwide in managing chronic and life-threatening diseases. Advancements in biotechnology have enabled pharmaceutical companies to capture revenues from a growing number of product approvals, especially in oncology. A study by TMR has projected the global biosimilars market valuation to advance at CAGR of 15.5% during 2022–2031.
Healthcare professionals are showing an increased interest in prescribing biosimilars on the back of their leaning on increasing access to biologic therapies for their patients, thereby spurring product sales of biosimilars market. Biosimilars have proved to be pivotal in reducing healthcare costs in managing a wide spectrum of chronic diseases, reiterate the key insights on the biosimilars market. Together with wider access to treatments, the cost factor will be crucial in steering the shift from biologics to biosimilars, which stridently will boost market share for biosimilars.
A favorable regulatory landscape especially in relation to regular updates in product-specific guidelines especially in Europe has pivoted the rapid evolution of the biosimilars market. These trends are catalyzing product penetration. Of note, biosimilar monoclonal antibodies are being extensively used in the treatment of cancer and rheumatoid arthritis, thus generating profitable opportunities in the biosimilars market.
Request Brochure of Biosimilars Market Research Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=118
Key Findings of Biosimilars Market Study
- Biosimilar Companies to Capture Substantial Revenues from Cancer Care: Biosimilar producers are geared toward tapping into the vast revenue potential in oncology drugs. The high cost of biologics has hindered the access to therapies in cancer management. Need for novel immunotherapy drugs has stridently spurred the development of biosimilars for oncology, observed the TMR study on the biosimilars market.
- Need for Lowering Costs in Chronic Diseases Management Pivots Enormous Market Prospects for Pharmaceutical Companies: The prospect of biosimilars for a wide spectrum of chronic diseases has grown. In part, this has been due to remarkable safety and efficacy of these in their management. The demand for biosimilar drugs is likely to rise in diabetes, hypertension, respiratory diseases, obesity, arthritis, gastrointestinal diseases. The unmet need for these due to high cost will catalyze the sales of products in the biosimilars market.
- Producers to Benefit from Investments in Recombinant Non-Glycosylation Proteins: The TMR study has found that growing number of companies in the biosimilars market are witnessing an incredible value-grab opportunity in recombinant non-glycosylation proteins. As a result, R&D funding on these are expected to grow rapidly during the forecast period.
Request Brochure of Biosimilars Market Research Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=118
Biosimilars Market: Key Drivers
- Leading pharmaceutical companies are leveraging the evidence from clinical data to support their claims about efficacy, side effect risk profile, and quality of products, which continues to occupy a key role in expansion of the biosimilars market.
- Growing number of originator biologics going off patent or losing data exclusivity and market exclusivity is likely to nudge the healthcare professionals and patients to switch from biologics to biosimilar in the coming years. The factor will increasingly define the contours of the biosimilars market development.
Get Exclusive PDF Sample Copy of Biosimilars Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=118
Biosimilars Market: Regional Growth Dynamics
Europe held a major substantial share of the global biosimilars market in 2021. Enormous revenue streams in the regional market have been fueled by robust licensing pathways and rise in spending on biosimilar medicines. Significant number of approved to date have also worked in favor of pharmaceutical companies looking to benefit from their investments in the Europe biosimilars market. A large number of approved biosimilars to diverse active substances in the EU will continue to propel lucrative growth for players in the Europe biosimilars market.
Biosimilars Market: Key Players
Some of the key industry players are Apotex Inc., STADA Arzneimittel AG, Amgen, Inc., Celltrion Inc., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Biocon, Intas Pharmaceuticals Ltd., and Pfizer, Inc.
Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=118
Biosimilars Market Segmentation
- Product
- Recombinant Glycosylated Proteins
- Monoclonal Antibodies
- Erythropoietin
- Others
- Recombinant Non-glycosylated Proteins
- Insulin
- Granulocyte Colony Stimulating Factor
- Recombinant Human Growth Factor
- Interferons
- Recombinant Peptides
- Indication
- Chronic Diseases
- Oncology
- Autoimmune Diseases
- Infectious Diseases
- Blood Disorders
- Growth Hormone Deficiency
- Others
Regions Covered
- North America
- Latin America
- Europe
- Latin America
- Middle East & Africa
Countries
- U.S.
- Canada
- Germany
- U.K.
- France
- Italy
- Spain
- China
- India
- Japan
- Australia & New Zealand
- Brazil
- Mexico
- GCC Countries
- South Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Plasma Protein Therapeutics Market: Growing Investment in Innovation, Rising Demand for Immunoglobulin (IG), Rising Indications and Therapeutic use of Plasma Derived Protein Therapeutics are projected to drive the plasma protein therapeutics market.
Recombinant Plasma Protein Therapeutics Market: The global recombinant plasma protein therapeutics market is driven by various factors such as shift from use of plasma-derived proteins to recombinant therapies, rise in awareness about rare disease management and increased focus on investments in rare diseases.
Fish Collagen Peptides Market: The global fish collagen peptides market was valued at ~US$ 250 Mn in 2018. The fish collagen peptides market is projected to reach ~US$ 500 Mn by 2027, expanding at a CAGR of ~8% from 2019 to 2027.
Peptide Therapeutics Market: High incidence & prevalence of metabolic disorders to escalate the growth of global peptide therapeutics market. moreover, advances in drug delivery and bioavailability is projected to drive the global peptide therapeutics market during the forecast period.
Collagen Peptide and Gelatin Market: Increase in commercialization of novel collagen-based drug delivery systems and rise in social awareness about personal well-being are projected to drive the global collagen peptide and gelatin market. The global collagen peptide and gelatin market is projected to expand at a CAGR of 8.7% from 2019 to 2027.
Insulin Delivery Devices Market: Increasing incidence of diabetes has been driving demand for minimal invasive devices for intravenous delivery of insulin in the body. This, in turn, is boosting insulin delivery devices market. The global insulin delivery devices market is projected to reach market valuation of US$ 21,783.3 Mn through 2026.
Autoimmune Disease Diagnostics Market: High prevalence of autoimmune diseases across the world, Increased health care expenditure globally, Growing awareness among people about autoimmune diseases are projected to drive the global autoimmune disease diagnostics market during the forecast period.
Antihypertensive Drugs Market: Increase in launch of new drugs and diagnostic agents; and key industry developments such as collaborations and establishment of new R&D centers are likely to propel the global antihypertensive drugs market.
About Us
Transparency Market Research is a global market intelligence company providing market research reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact Us:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: http://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]
Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg
SOURCE Transparency Market Research
![](https://rt.prnewswire.com/rt.gif?NewsItemId=LN86693&Transmission_Id=202206131130PR_NEWS_USPR_____LN86693&DateId=20220613)
Share this article