The Global Biosimilars Market Size was valued at USD 17.6 Billion in 2021, the market is projected to grow USD 56.40 Billion in 2030, at a CAGR of 22.80 %.
<h4><strong>The Global Biosimilars Market Size was valued at USD 17.6 Billion in 2021, the market is projected to grow USD 56.40 Billion in 2030, at a CAGR of 22.80 %.</strong></h4><p data-start="79" data-end="765">The <a href="https://www.sphericalinsights.com/reports/biosimilars-market" target="_blank" rel="noopener"><span style="color: #0000ff;"><strong>global biosimilars market,</strong></span></a> valued at USD 17.6 billion in 2021, is projected to grow to USD 56.4 billion by 2030, registering a remarkable compound annual growth rate (CAGR) of 22.8%. Biosimilars are “similar but not identical” to their original biologic counterparts, providing a more affordable alternative to expensive biologic therapies for life-threatening and rare diseases. As patents for many pioneering biologics near expiration, both generic and research-based pharmaceutical companies are increasingly focusing on developing biosimilars. However, unlike traditional generics, creating a biosimilar is much more complex due to the intricacies involved in biologic products.</p><h4><strong>Get Access to a Free Copy of Our Latest Sample Report - <span style="color: #0000ff;"><a style="color: #0000ff;" href="https://www.sphericalinsights.com/request-sample/1140">https://www.sphericalinsights.com/request-sample/1140</a></span></strong></h4><h3 data-start="767" data-end="817"><strong data-start="771" data-end="817">Key Players Driving the Biosimilars Market</strong></h3><p data-start="819" data-end="871">Leading companies in the biosimilars market include:</p><ul data-start="873" data-end="1221"><li data-start="873" data-end="885"><strong data-start="875" data-end="885">Sandoz</strong></li><li data-start="886" data-end="898"><strong data-start="888" data-end="898">Pfizer</strong></li><li data-start="899" data-end="919"><strong data-start="901" data-end="919">Biocon Limited</strong></li><li data-start="920" data-end="943"><strong data-start="922" data-end="943">Fresenius Kabi AG</strong></li><li data-start="944" data-end="970"><strong data-start="946" data-end="970">Boehringer Ingelheim</strong></li><li data-start="971" data-end="987"><strong data-start="973" data-end="987">Mylan N.V.</strong></li><li data-start="988" data-end="1001"><strong data-start="990" data-end="1001">Organon</strong></li><li data-start="1002" data-end="1029"><strong data-start="1004" data-end="1029">Eli Lilly and Company</strong></li><li data-start="1030" data-end="1071"><strong data-start="1032" data-end="1071">Teva Pharmaceutical Industries Ltd.</strong></li><li data-start="1072" data-end="1102"><strong data-start="1074" data-end="1102">Dr. Reddy’s Laboratories</strong></li><li data-start="1103" data-end="1119"><strong data-start="1105" data-end="1119">Amgen Inc.</strong></li><li data-start="1120" data-end="1135"><strong data-start="1122" data-end="1135">Celltrion</strong></li><li data-start="1136" data-end="1152"><strong data-start="1138" data-end="1152">Leo Pharma</strong></li><li data-start="1153" data-end="1162"><strong data-start="1155" data-end="1162">MSD</strong></li><li data-start="1163" data-end="1175"><strong data-start="1165" data-end="1175">Sanofi</strong></li><li data-start="1176" data-end="1190"><strong data-start="1178" data-end="1190">Novartis</strong></li><li data-start="1191" data-end="1208"><strong data-start="1193" data-end="1208">Mundipharma</strong></li><li data-start="1209" data-end="1221"><strong data-start="1211" data-end="1221">AbbVie</strong></li></ul><p data-start="1223" data-end="1356">These industry giants are continually innovating to expand the availability of biosimilars across a broad range of therapeutic areas.</p><h3 data-start="1358" data-end="1397"><strong data-start="1362" data-end="1397">Biosimilars Market Segmentation</strong></h3><ol data-start="1399" data-end="1644"><li data-start="1399" data-end="1549"><p data-start="1402" data-end="1417"><strong data-start="1402" data-end="1416">By Product</strong>:</p><ul data-start="1421" data-end="1549"><li data-start="1421" data-end="1466"><strong data-start="1423" data-end="1466">Recombinant Human Growth Hormone (RHGH)</strong></li><li data-start="1470" data-end="1513"><strong data-start="1472" data-end="1513">Granulocyte Colony-stimulating Factor</strong></li><li data-start="1517" data-end="1533"><strong data-start="1519" data-end="1533">Interferon</strong></li><li data-start="1537" data-end="1549"><strong data-start="1539" data-end="1549">Others</strong></li></ul></li><li data-start="1551" data-end="1644"><p data-start="1554" data-end="1580"><strong data-start="1554" data-end="1579">By Manufacturing Type</strong>:</p><ul data-start="1584" data-end="1644"><li data-start="1584" data-end="1612"><strong data-start="1586" data-end="1612">In-House Manufacturing</strong></li><li data-start="1616" data-end="1644"><strong data-start="1618" data-end="1644">Contract Manufacturing</strong></li></ul></li></ol><h3 data-start="1646" data-end="1675"><strong data-start="1650" data-end="1675">Industry Developments</strong></h3><p data-start="1677" data-end="2082">One significant milestone in the biosimilars market occurred in July 2021, when Biocon Ltd (Biocon Biologics) received FDA approval for the first interchangeable biosimilar <strong data-start="1850" data-end="1861">SEMGLEE</strong> (insulin glargine-yfgn injection), in partnership with Viatris, Inc. This approval marks a significant step in expanding biosimilars for the treatment of diabetes and sets a precedent for future innovations in the space.</p><h4>Buy this report now:-<span style="color: #0000ff;"> <a style="color: #0000ff;" href="https://www.sphericalinsights.com/checkout/1140">https://www.sphericalinsights.com/checkout/1140</a></span></h4><h3 data-start="2084" data-end="2109"><strong data-start="2088" data-end="2109">Regional Insights</strong></h3><p data-start="2111" data-end="2190">The biosimilars market is witnessing significant growth across various regions:</p><ul data-start="2192" data-end="2538"><li data-start="2192" data-end="2234"><strong data-start="2194" data-end="2211">North America</strong> (U.S., Canada, Mexico)</li><li data-start="2235" data-end="2322"><strong data-start="2237" data-end="2247">Europe</strong> (U.K., Italy, Germany, Russia, France, Spain, The Netherlands, and others)</li><li data-start="2323" data-end="2410"><strong data-start="2325" data-end="2341">Asia-Pacific</strong> (India, Japan, China, South Korea, Australia, Indonesia, and others)</li><li data-start="2411" data-end="2462"><strong data-start="2413" data-end="2430">South America</strong> (Brazil, Argentina, and others)</li><li data-start="2463" data-end="2538"><strong data-start="2465" data-end="2489">Middle East & Africa</strong> (Saudi Arabia, U.A.E., South Africa, and others)</li></ul><h3 data-start="2540" data-end="2576"><strong data-start="2544" data-end="2576">Challenges and Opportunities</strong></h3><p data-start="2578" data-end="2900">While biosimilars present immense growth opportunities, they also face challenges, including regulatory hurdles, market access issues, and the complexity of manufacturing. However, the market is primed for expansion as more biologics near patent expiration, creating a wave of demand for more affordable treatment options.</p><h3 data-start="2902" data-end="2940"><strong data-start="2906" data-end="2940">Key Questions the Market Faces</strong></h3><ul data-start="2942" data-end="3329"><li data-start="2942" data-end="3024"><strong data-start="2944" data-end="3024">What is the current market size and growth rate of the biosimilars industry?</strong></li><li data-start="3025" data-end="3089"><strong data-start="3027" data-end="3089">How are regulatory policies impacting the market’s growth?</strong></li><li data-start="3090" data-end="3163"><strong data-start="3092" data-end="3163">What are the key market opportunities and threats faced by vendors?</strong></li><li data-start="3164" data-end="3253"><strong data-start="3166" data-end="3253">Which product types or applications are projected to experience significant growth?</strong></li><li data-start="3254" data-end="3329"><strong data-start="3256" data-end="3329">What challenges are limiting the expansion of the biosimilars market?</strong></li></ul><h3 data-start="3331" data-end="3349"><strong data-start="3335" data-end="3349">Conclusion</strong></h3><p data-start="3351" data-end="3697">The biosimilars market is set to grow exponentially between 2021 and 2030, with a promising CAGR of 22.8%. With more biologics facing patent expiry, the shift toward more affordable biosimilars is poised to transform the healthcare landscape. Key players, innovation, and emerging market opportunities will continue to drive growth in the sector.</p><p data-start="3699" data-end="3846">For more insights into the global biosimilars market, access our full report today and stay ahead of the competition in this rapidly growing field.</p><h4>Unlock the full report now! @ <span style="color: #0000ff;"><a style="color: #0000ff;" href="https://www.sphericalinsights.com/reports/biosimilars-market">https://www.sphericalinsights.com/reports/biosimilars-market</a></span></h4><h3><strong>Related Report:</strong></h3><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.jp/reports/dentures-market">https://www.sphericalinsights.jp/reports/dentures-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.jp/reports/marine-insurance-market">https://www.sphericalinsights.jp/reports/marine-insurance-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.jp/reports/fertility-test-market">https://www.sphericalinsights.jp/reports/fertility-test-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.jp/reports/fertility-test-market">https://www.sphericalinsights.jp/reports/fertility-test-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.jp/reports/lifeboat-market">https://www.sphericalinsights.jp/reports/lifeboat-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.com/reports/satellite-antenna-market">https://www.sphericalinsights.com/reports/satellite-antenna-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.com/reports/china-hairy-cell-leukemia-market">https://www.sphericalinsights.com/reports/china-hairy-cell-leukemia-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.sphericalinsights.com/reports/guillain-barre-syndrome-market">https://www.sphericalinsights.com/reports/guillain-barre-syndrome-market</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.globenewswire.com/en/news-release/2022/10/11/2531577/0/en/Global-Cognitive-Computing-Market-Size-to-grow-USD-245-4-Billion-by-2030-CAGR-of-31.html">https://www.globenewswire.com/en/news-release/2022/10/11/2531577/0/en/Global-Cognitive-Computing-Market-Size-to-grow-USD-245-4-Billion-by-2030-CAGR-of-31.html</a></strong></span></h4><h4><span style="color: #0000ff;"><strong><a style="color: #0000ff;" href="https://www.globenewswire.com/en/news-release/2022/10/11/2531597/0/en/Global-Computer-Vision-Market-Size-to-grow-USD-21-3-Billion-by-2030-CAGR-of-6-9.html">https://www.globenewswire.com/en/news-release/2022/10/11/2531597/0/en/Global-Computer-Vision-Market-Size-to-grow-USD-21-3-Billion-by-2030-CAGR-of-6-9.html</a></strong></span></h4><h3><strong>About the Spherical Insights</strong></h3><p><strong>Spherical Insights</strong> is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.</p><p>which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.</p><p><strong>Contact Us:</strong></p><p>Company Name: <strong>Spherical Insights</strong></p><p>Email: <strong>sales@sphericalinsights.com</strong></p><p>Phone: <strong>+1 303 800 4326 (US)</strong></p><p>Follow Us: <strong><a href="https://www.linkedin.com/company/spherical-insight/"><u>LinkedIn</u></a> | <a href="https://www.facebook.com/sphericalinsights22"><u>Facebook</u></a> | <a href="https://twitter.com/SInsights_US"><u>Twitter</u></a></strong></p>
Comments
0 comment