The global biosimilars market is estimated to grow at a significant CAGR during the forecast period. Biosimilars are a biologic medical product that is similar to biological medicines and acts as an alternative to biomedicines. According to the Biosimilars Council, biosimilars are priced 10% to 35% lesser than branded biological medicines, and a sum of $250 billion could be saved through the application of biosimilars in the next decade.
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Biosimilars will increase patient access to important life-saving medication by reducing overall costs in the pharmaceutical industry. The factor that contributes to the growth of the market includes the rise in the geriatric population and the growing demand for pharmaceuticals. According to the UN in 2017, approximately 962 million people were over 60 years which is projected to approximately 2.1 billion by 2050. These populations suffer from such problems and diseases that require regular treatment diagnosis, and medication. Thus, the geriatrics population is potentially the largest consumer base for key players operating in the market during the forecast period.
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Global Biosimilars Market Segmentation
By Product
Recombinant Non-Glycosylated Proteins
Recombinant Glycosylated Proteins
By Application
Oncology
Chronic and Autoimmune Disease
Blood Disorders
Growth Hormone Deficiency
Other Diseases
Regional Analysis
North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles
Allergan Plc
AMEGA Biotech SA
Amgen Inc.
Biocon Ltd.
Biogen Inc.
Boehringer Ingelheim International GmbH
Celltrion Healthcare Co. Ltd.
Dr. Reddy's Laboratories Ltd.
Eli Lilly and Co.
F. Hoffmann-La Roche Ltd.
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