Infinium Global Research Biosimilar Market | Page 2

A latest report has been added to the wide database of Biosimilar Market by Infinium Global Research. This report studies
the 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) market status and outlook of global and major regions, from manufacturers, and end industries. The objective of the
study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six
years. Biosimilar Market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis
of competitive landscape, latest trends, and product offerings of the major companies in the Biosimilar Market. 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. 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.
Biosimilar 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 biosimilar,
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.
Increasing awareness about biosimilar among the patients and doctors is a major factor for the growth of the global
biosimilar market. Presence of large number of geriatric population is expected to aid the growth of the global biosimilar
market during the forecast period, as they need treatment for various chronical illnesses. Increasing number of patients with
chronic illnesses such as diabetes and cancer drive the demand for effective patented biologics medicines. Due to the lower
cost, biosimilar medicines are expected attain more demand and drive the growth of the global biosimilar market during the
forecast period. Segments related to diabetes medicine and oncologies are expected to attain faster growth during the
forecast period.
Expiry of patents of various blockbuster drugs is a major factor for the growth of the global biosimilar market, as it is
expected to provide the opportunities for the smaller pharmaceutical manufacturer to produce biosimilars in those
segments. The reimbursement policies of various governments and the increasing interests from the insurance companies
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