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Written by Business News » Updated on: November 22nd, 2024
Biosimilar Market Size, Share, Trends, Growth & Forecast Report 2025-2033
IMARC Group, a leading market research company, has recently released a report titled “Biosimilar Market Report by Molecule (Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab, Pegfilgrastim, Trastuzumab, Bevacizumab, and Others), Indication (Auto-Immune Diseases, Blood Disorders, Diabetes, Oncology, Growth Deficiency, Female Infertility, and Others), Manufacturing Type (In-house Manufacturing, Contract Manufacturing), and Region 2025-2033”. The study provides a detailed analysis of the industry, including the biosimilar market growth, share, size and trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global biosimilar market size reached USD 26.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 185.1 Billion by 2033, exhibiting a growth rate (CAGR) of 24.1% during 2025-2033.
Request to Get the Sample Report: https://www.imarcgroup.com/biosimilar-market/requestsample
Factors Affecting the Growth of the Biosimilar Industry:
Increasing Adoption of Biosimilars in Oncology:
Oncology is shifting towards biosimilars due to rising cancer rates and high biologic therapy costs. With key biologic patents expiring, doctors are now considering biosimilars. These offer similar benefits at lower prices. Positive clinical results and growing doctor confidence are driving this shift. Meanwhile, regulatory bodies are easing approval for biosimilars, improving market access. As awareness of biosimilars grows, so will demand. This will boost competition and lower patient treatment costs.
Expanding Patient Access Through Policy Changes:
Policy changes are boosting global access to biosimilars. Now, governments and health organizations see biosimilars as key to affordable healthcare. They are rolling out reforms and education to promote these drugs. This raises awareness and encourages doctors to prescribe biosimilars. As a result, we expect more use of biosimilars, especially where costly biologics limit access. This shift will make biosimilars crucial in healthcare systems worldwide.
Technological Advancements and Innovation:
Biosimilar technology is advancing and set to transform the market. New methods are making production faster and better, which reduces costs and improves quality. Meanwhile, AI and machine learning are speeding up drug development. As these technologies improve, more biosimilars will emerge, meeting various medical needs and increasing demand. Driven by technology and patient needs, the biosimilar sector is ready for significant growth.
Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=497&flag=C
Biosimilar Market Report Segmentation:
Breakup by Molecule:
Infliximab was the most prominent biosimilar drug, accounting for the majority of the market share.
Breakup by Indication:
Auto-immune diseases were the primary therapeutic area for biosimilars, driving the largest market segment.
Breakup by Manufacturing Type:
In-house manufacturing was the dominant production method, preferred by many biosimilar manufacturers.
Breakup by Region:
Europe held the largest share of the global biosimilar market, driven by factors like strong regulatory frameworks and early adoption of biosimilars.
Global Biosimilar Market Trends:
The biosimilar market has seen significant changes recently. Experts predict 2024 will be crucial for growth. This is mainly due to the rise of personalized medicine. It aims to create biosimilars tailored to individual patients. Companies are investing heavily to match the quality of original products. They also aim to make these alternatives safer and more effective. Competition is intensifying, with both new and established firms innovating. Meanwhile, regulatory bodies are easing approval processes. This speeds up the launch of new biosimilars. As doctors and patients learn more about biosimilars' benefits, demand will rise. This, in turn, will lead to wider acceptance and shifts in treatment methods.
Top Companies Operated in Biosimilar Industry:
Key Highlights of the Report:
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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IMARC Group
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