Biosimilars/follow-on-biologics Market: Competitive Analysis, Market Trends and Forecast to 2031

What is Biosimilars/follow-on-biologics?

Biosimilars, also known as follow-on biologics, have been gaining significant traction in the pharmaceutical industry as cost-effective alternatives to expensive biologic drugs. The market for biosimilars is projected to witness substantial growth in the coming years, fueled by increasing demand for affordable treatment options and patent expiries of key biologic drugs. Market research indicates a promising outlook for biosimilars, with a growing number of pharmaceutical companies investing in the development and commercialization of these products. As a result, the biosimilars market is expected to experience a steady rise in revenue and market share, offering a compelling opportunity for industry players and stakeholders.

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Study of Market Segmentation (2024 - 2031)

Biosimilars or follow-on biologics are pharmaceutical products that are highly similar to already approved biologics, offering cost-effective alternatives. The market types include human growth hormone, erythropoietin, monoclonal antibodies, insulin, interferon, granulocyte-colony stimulating factor, and others. These biosimilars find application in treating various conditions such as blood disorders, oncology diseases, chronic and autoimmune diseases, growth hormone deficiencies, and others. They help in improving access to essential treatments and reducing healthcare costs while maintaining similar efficacy and safety profiles as the original biologics. This market serves as an important avenue for providing affordable and effective therapeutic options to patients worldwide.

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Biosimilars/follow-on-biologics Market Regional Analysis

The biosimilars/follow-on-biologics market is strategically placed and utilized differently across various regions. In North America (NA) and Europe, established regulatory frameworks have led to significant market penetration. The United States (USA) boasts a mature biosimilars market, with increasing adoption due to healthcare cost concerns. In Asia-Pacific (APAC), countries like China are witnessing rapid growth, driven by increasing healthcare expenditure and a growing demand for affordable biologics. Emerging economies such as India and South Korea are also experiencing a rise in biosimilar usage, with favorable government policies and increasing investments in biotechnology industries contributing to their growth in the market.

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List of Regions: North America: United States, Canada, Europe: GermanyFrance, U.K., Italy, Russia,Asia-Pacific: China, Japan, South, India, Australia, China, Indonesia, Thailand, Malaysia, Latin America:Mexico, Brazil, Argentina, Colombia, Middle East & Africa:Turkey, Saudi, Arabia, UAE, Korea

Leading Biosimilars/follow-on-biologics Industry Participants

Novartis (Sandoz), Teva Pharmaceutical Industries, and Celltrion are considered market leaders in the biosimilars/follow-on biologics industry. These companies have extensive experience in developing and manufacturing biologic products and have established a strong presence in the global market.

Synthon Pharmaceuticals, LG Life Sciences, Biocon, Hospira, Merck Serono (Merck), Biogen idec, and Genentech (Roche) are new entrants that are also making significant contributions to the growth of the biosimilars market. These companies bring innovation, expertise, and resources to the table, which help in increasing the availability of cost-effective alternatives to expensive biologic drugs.

Through their research and development efforts, partnerships, and strategic investments, these companies can help expand the biosimilars/follow-on biologics market by increasing competition, reducing prices, and improving access to these vital treatments for patients worldwide. Their combined efforts will continue to drive growth in this important sector of the pharmaceutical 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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Market Segmentation:

In terms of Product Type, the Biosimilars/follow-on-biologics market is segmented into:

Human growth hormone
Erythropoietin
Monoclonal antibodies
Insulin
Interferon
Granulocyte-Colony Stimulating Factor
Others

In terms of Product Application, the Biosimilars/follow-on-biologics market is segmented into:

Blood Disorders
Oncology Diseases
Chronic and Autoimmune Diseases
Growth Hormone Deficiencies
Others

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The available Biosimilars/follow-on-biologics Market Players are listed by region as follows:

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

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The Biosimilars/follow-on-biologics market disquisition report includes the following TOCs:

Biosimilars/follow-on-biologics Market Report Overview
Global Growth Trends
Biosimilars/follow-on-biologics Market Competition Landscape by Key Players
Biosimilars/follow-on-biologics Data by Type
Biosimilars/follow-on-biologics Data by Application
Biosimilars/follow-on-biologics North America Market Analysis
Biosimilars/follow-on-biologics Europe Market Analysis
Biosimilars/follow-on-biologics Asia-Pacific Market Analysis
Biosimilars/follow-on-biologics Latin America Market Analysis
Biosimilars/follow-on-biologics Middle East & Africa Market Analysis
Biosimilars/follow-on-biologics Key Players Profiles Market Analysis
Biosimilars/follow-on-biologics Analysts Viewpoints/Conclusions
Appendix

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Biosimilars/follow-on-biologics Market Dynamics ( Drivers, Restraints, Opportunity, Challenges)

The Biosimilars/follow-on-biologics market is driven by factors such as the need for cost-effective treatment options, patent expirations of biologic drugs, and increasing prevalence of chronic diseases. However, market growth is hindered by the high development costs, regulatory challenges, and complex manufacturing processes associated with biosimilars. Opportunities in this market lie in the increasing adoption of biosimilars in emerging economies and the rising demand for personalized medicine. Challenges include market fragmentation, limited physician and patient awareness, and the potential for legal disputes between originator companies and biosimilar manufacturers. Overall, the market shows promise but faces several obstacles that need to be navigated carefully.

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