Pune, India, April 15, 2019 -- /360iResearch/ -- The report "Global Biosimilars Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2025 (Q1 2019 Update)", published by 360iResearch, states that the global market was valued at USD 6,738.15 million in 2018 and is projected to reach USD 31,872.68 million by 2025, growing at a CAGR of 24.86% from 2018 to 2025.
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The major forces driving the growth of the biosimilars market include the growing pressure to reduce healthcare expenditure and growing demands of pharmaceutical drugs. Moreover, expiration of major patents during the forecast period supportive government initiative and awareness creating programmes in the developing economies and lower cost biosimilars drugs than original biologics are also some of the factors that are driving the market growth. However reluctance of physicians to prescribe biosimilars, and unawareness among patients and preference for brand may hinder the market growth. In the middle of difficulty lies opportunity such as the new indications and patent expiry of biologic products, potential in emerging markets, and emergence of bio-betters drugs. The possible challenges for the market growth are stringent regulatory requirements adversely affecting investment in biosimilars market, and high investment required for research and development. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on indication, the global biosimilars market is studied across Autoimmune Diseases, Blood Disorders, Chronic Diseases, Growth Hormone Deficiency, Infectious Diseases, and Oncology. Based on manufacturing, the global biosimilars market is studied across Contract Manufacturing, and In-House Manufacturing. Based on product, the global biosimilars market is studied across Recombinant Glycosylated Proteins, Recombinant Non-Glycosylated Proteins, and Recombinant Peptides. Based on geography, the global biosimilars market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the biosimilars market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are AMEGA Biotech S.A., Amgen Inc., Apotex Inc., Biocon Limited, Biogen Inc., Biosidus S.A., Bioton S.A., Dr. Reddy's Laboratories Limited, Innovent Biologics, Inc., JHL Biotech, Inc., LG Chem, Ltd., Merck Sharp & Dohme Corp., Mylan N.V., Pfizer Inc., and Sandoz International GmbH.
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Miss. Shikha Sachan
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