India Biosimilar Market Size is Projected To Exhibit Growth Rate 18.10% CAGR During 2024-2032

India Biosimilar Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 18.10% (2024-2032)

The India biosimilar market is experiencing significant growth, driven by consumer preferences for convenience and time-saving solutions. According to the latest report by IMARC Group, the market size is projected to exhibit a growth rate (CAGR) of 18.10% during 2024-2032. The study provides a detailed analysis of the industry, including the India biosimilar market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

India Biosimilar Market Trends and Drivers:

The India biosimilar market is expanding rapidly, owing to the increasing prevalence of chronic illnesses and the rising need for cost-effective treatments. Besides this, biosimilars are gaining popularity since they are less expensive than biologics while still offering comparable therapeutic benefits. Moreover, the supportive regulatory framework and initiatives by the Indian government bodies to promote healthcare accessibility also play a significant role in driving the market.

Additionally, the growing focus on research and development (R&D) activities by pharmaceutical companies to introduce new biosimilars is bolstering the expansion of the India biosimilar market. Meanwhile, the high incidence of diseases like cancer and diabetes, coupled with the aging population, further propels the demand for biosimilars, aiming to reduce healthcare expenses and improve patient outcomes.

Technological advancements and increasing collaborations between domestic and international pharmaceutical companies are significant trends in the India biosimilar market. In addition, the adoption of advanced manufacturing processes and the emphasis on ensuring high-quality standards are enhancing the production of biosimilars. Furthermore, the expanding healthcare infrastructure and the rising healthcare expenditure by both the public and private sectors are facilitating market growth.

Another notable trend is the increasing awareness and acceptance of biosimilars among healthcare providers and patients, which is crucial for market penetration. Apart from this, the competitive landscape is also evolving, with numerous market players investing in the development of innovative biosimilars, aiming to cater to unmet medical needs and contribute to the sustainable growth of the India biosimilar market over the forecasted period.

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India Biosimilar Market Segmentation:

Molecule Insights:

• Infliximab

• Insulin Glargine

• Epoetin Alfa

• Etanercept

• Filgrastim

• Somatropin

• Rituximab

• Follitropin Alfa

• Adalimumab

• Pegfilgrastim

• Trastuzumab

• Bevacizumab

• Others

Indication Insights:

• Auto-Immune Diseases

• Blood Disorder

• Diabetes

• Oncology

• Growth Deficiency

• Female Infertility

• Others

Manufacturing Type Insights:

• In-house Manufacturing

• Contract Manufacturing

Regional Insights:

• North India

• West and Central India

• South India

• East and Northeast India

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Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Market Trends

• Market Drivers and Success Factors

• Impact of COVID-19

• Value Chain Analysis

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you 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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