Market Overview and Forecast with Impact of COVID-19 (2023-2028)
Executive Summary The global biosimilars market was valued at USD 16.48 billion in 2021, with the Europe region leading the regional market share. One of the main drivers of this market is the expiration of patents for major pharmaceutical drugs and therefore the possibility of developing more biosimilar drugs.
New York, Sept. 06, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Global Biosimilars Market (2022 Edition) – Analysis by Product Type, Application, Region, Country: Market Overview and Forecast with Impact of COVID-19 (2023-2028)” – https://www.reportlinker.com/p06318355/?utm_source=GNW
Additionally, prices for biosimilars are well below those of their benchmark counterparts, with the growing burden of healthcare spending. Biosimilars relieve the healthcare infrastructure of several developing countries and are expected to drive the market growth over the forecast period.
Asia-Pacific is the fastest growing market in the biosimilars market as countries in the region provide opportunities for drug growth and sales. Growing government initiatives and increasing investments in healthcare are ensuring rapid growth.
The FDA has reported drug shortages during COVID-19 due to a lack of APIs and supply chain market disruptions. The higher rate of competition in the biosimilars market has resulted in the growth of biologics with long-term supplies. A longer delay for approvals was occurring due to a delay in the inspection of the manufacturing plant. Product delivery is also the major concern impacting the biosimilars market apart from product manufacturing.
• The report presents the biosimilars market analysis for the historical period of 2018-2021, the estimates for 2022 and the forecast period of 2023-2028.
• The report analyzes the biosimilars market by value (USD million).
• The report analyzes the biosimilars market by product type (monoclonal antibodies, filgrastim and pegfilgrastim, insulin others).
• The report analyzes the biosimilars market by application (oncology, chronic and autoimmune diseases, blood disorders, infectious diseases, others).
• The global biosimilars market was analyzed by region (Americas, Europe, Asia-Pacific and MEA).
• The global biosimilars market was analyzed by country (United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, Japan, India).
• The key ideas of the report were presented through the main actions of the company. Additionally, market attractiveness was presented by region, product type and end user.
• Further, key industry opportunities, trends, drivers and challenges have been analyzed in the report.
• The report tracks competitive developments, strategies and recent developments. Companies analyzed in the report include Pfizer, Dr.Reddy’s Laboratories, Amgen, Novartis AG, Teva Pharmaceuticals Ltd., Samsung Biologics, Eli lilly and company, Stada Arzneimittel, Celltrion, Biocon Limited.
Key target audience
• Biosimilar companies
• Pharmaceutical and healthcare companies
• End users (hospitals, ambulatory surgery centers, research and laboratories)
• Research and development organizations (R&D)
• Government agencies and regulatory authorities
• Investment banks and private equity firms
Read the full report: https://www.reportlinker.com/p06318355/?utm_source=GNW
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