Global Biosimilars Market Global Biosimilars Market is projected to reach US

According to the report “Global Biosimilars Market,” published by Market Data Forecast, the
global market is projected to reach USD 22.15 billion by 2021 from USD 4.76 billion in 2016,
at a CAGR of 36%.
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A biosimilar product is a biological product that is approved based on a showing that it is
highly similar to an FDA-approved biological product, known as a reference product, and has
no clinically meaningful differences in terms of safety and effectiveness from the reference
product. Only minor differences in clinically inactive components are allowable in biosimilar
products.
An interchangeable biological product is biosimilar to an FDA-approved reference product
and meets additional standards for interchangeability. An interchangeable biological
product may be substituted for the reference product by a pharmacist without the
intervention of the health care provider who prescribed the reference product.
FDA requires licensed biosimilar and interchangeable biological products to meet the
Agency’s rigorous standards of safety and efficacy. That means patients and health care
professionals will be able to rely upon the safety and effectiveness of the biosimilar or
interchangeable product, just as they would the reference product.
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The factors influencing the Global Market for Biosimilars Market, either positively or
negatively are presented in the DROC analysis. Across the world, the biosimilars market is
driven by aging population and increasing rates of diabetes and chronic disorders.
Government support and initiatives play a crucial role. Emerging pharmaceutical markets
and lenient government regulations provide some of the major openings this is market. In
addition, increased co-operation between manufacturing companies, and the outsourcing of
biosimilar products are acting as an impetus for biosimilars market. However, high
manufacturing cost and complexity, and the availability of low priced generic drugs in the
market are some of the major restraints of biosimilars market are facing.
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For granular level understanding, the Biosimilars Market is segmented based on the
following categories with Market Size Estimations and Y-o-Y Forecasts presented for each
sub-segments.

By Type