The Biosimilars Market report, at first, has given a brief understanding of the industry through basic overview. This overview includes the market definition, key applications of the product, and the recent manufacturing technology employed for such production. The global Biosimilars market has been analyzed in detail to gain an understanding of the competitive landscape, key regional status, and recent trends noted in the relevant industry.
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Biosimilars are highly identical to approved biological drugs. They have similar properties in terms of safety, potency, and efficacy to original biologic products but they have minor differences in clinically inactive components. Regulations for biosimilars play important role in maintaining the viability and balance between reference product and biosimilars product. Various regulatory authorizes like FDA and EMA actively regulate the development and commercialization of biosimilars.
The rise in number of biosimilar approvals is the key driving factor which is expected to boost the global biosimilars market growth. For instance, in July 2018, the USFDA (U.S. Food and Drug Administration) had introduced a biosimilars action plan to encourage the development of biosimilars. Furthermore, increases in prevalence of chronic diseases like cancer will positively contribute the market growth. For instance, in 2018, as per the NCI (National Cancer Institute) information approximates 1,735,350 new cases of cancer likely to be diagnosed in United States. Moreover, increase in research and development activities as well as government initiatives will fuel the global biosimilars market growth during this forecast period. Many governments are emphasizing on cost-effective drug synthesis. The United States is the popular country with highest health expenditure.
However, a complexity in manufacturing is the major restraining factor which is expected to hinder the global biosimilars market growth. Also, stringent rules and regulations for development and manufacturing of biosimilars will affect the market growth.
Market Key Players
Various key players are discussed in this report such as Novartis AG, Pfizer Inc. Celltrion Healthcare Co., Ltd, Teva Pharmaceutical, Biocon Limited, Dr. Reddy’s Laboratories, Amgen, Inc.,and Sanofi S.A.
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By Drug Class
- Recombinant Human Growth Hormone
- Granulocyte Colony-Stimulating Factor
- Fusion Proteins
- Monoclonal Antibodies
By Therapy Type
- Hormone Therapy
- Metabolic Disorders
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Specialty Pharmacies
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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