The report on Biosimilar Market by product (human growth hormones, monoclonal antibodies, insulin,
peptides, erythropoietin and others), application, (oncology, chronic and autoimmune diseases, growth
hormone deficiency, infectious diseases and others) trends analysis and forecasts up to 2023 studies the
market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-
Pacific, Rest of the World. According to the report the Global Biosimilar Market is projected to grow at a
CAGR between 25.0% to 26.0% in terms of value over the period of 2017-2023. The growth in the world
market is primarily driven by significant contribution by North America (Leading region) region to this market.
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A product is termed as biosimilar product, if it is a biological product with similar characteristics as that of a
reference biological product, which possesses approval from agencies such as FDA. There would not be any
major clinical difference in effectiveness and safety as that of reference product. Biosimilar products are
made of complex molecules with high molecular weight produced through genetic engineering in living cells.
Biologics drugs are costlier than respective chemical drugs. Biosimilar drugs can save around 30 to 40 % in
terms of price relative to the respective biologics drugs. Biosimilars are useful for the treatment of illnesses
such as anemia, autoimmune diseases, cancer, diabetes, growth hormone deficiencies, hematological
diseases, kidney failure, rheumatoid arthritis and others. For the manufacturing of biosimilars, manufacturers
have to develop environments that are ideal for the living cells, which remain sensitive to environmental
conditions. Moreover, they need to develop distinctive process to entice the living cells for producing similar
outcome to a prevalent biological treatment. The substitution of biological drugs with biosimilar drugs can
save lot of money for public health care sector and patients. The regulatory authorities in developed nations
are promoting biosimilar products.
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