The Business Research Company’s Biosimilars Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, August 3, 2021 /EINPresswire.com/ — Long working hours, limited physical activity, unhealthy eating and drinking habits contribute to the prevalence of chronic diseases and biosimilars are increasingly used to treat these chronic diseases. Biosimilars activate the immune system response against cancer cells thus helping the immune system to eliminate the cancer cells from the body. The key players operating in the biosimilars market are investing in creating a biosimilar of insulin.
The major players covered in the global biosimilar drugs market are Pfizer, Amgen, Biocon, Celltrion, Dr. Reddy's Laboratories, Boehringer Ingelheim, Elli Lilly and Company, Mylan N.V., Sanofi, and STADA Arzneimittel.
The global biosimilar market size 2020 was $7.49 billion. It is expected to grow to $8.05 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biosimilars market is expected to reach $21.13 billion in 2025 at a CAGR of 27%, The rising prevalence of chronic diseases such as arthritis, asthma, and cancer is expected to be a major driver of the biosimilars market.
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The biosimilars market consists of sales of biosimilars and related services that are used to treat chronic diseases such as diabetes, arthritis, and cancer. Biosimilars are pharmaceuticals that are manufactured using cell lines and offer no clinical difference as compared to biologics. Biosimilars are made once the patent of biologics is expired.
TBRC’s biosimilars report is segmented by product into recombinant non-glycosylated proteins, recombinant glycosylated proteins; by types into human growth hormone, erythropoietin, monoclonal antibodies, insulin, interferon, granulocyte-colony stimulating factor, others’ by application into oncology, chronic and autoimmune diseases, growth hormone deficiency, infectious diseases, others.
Biosimilars Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides biosimilars global market overview, forecast biosimilars global market size and growth for the whole market, biosimilars market segments, and geographies, biosimilars global market trends, biosimilars market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire