Latest News- Biosimilars Market: Monoclonal antibodies is expected to lead the Product Type segment during 2025-2029

The Biosimilars Market is being driven by Price advantage of biosimilars over biologics

The Biosimilars Market is expected to grow at a CAGR of 34.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 117678.1 million. In the global biosimilar market, patient acceptance of biosimilar switching and physician prescribing behavior significantly influence market growth. Many physicians, particularly rheumatologists, often prefer prescribing the bio-originator over biosimilars as the initial or secondary treatment option for rheumatology diseases. This resistance stems from concerns regarding the perceived reduced efficacy of biosimilars compared to the reference product. At the community pharmacy level, substitution of a biosimilar with a bio-originator is authorized in specific countries, primarily in Central and Eastern Europe. Despite an increasing trend in patient and physician adoption of biosimilars, the rate of substitution remains low due to regulatory restrictions in certain regions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Monoclonal antibodies
  • Insulin
  • Human growth hormone
  • Others
• Application
  • Oncology and hematology
  • Endocrinology
  • Immunology
  • Nephrology
• Manufacturing Type
  • In-house manufacturing
  • Contract manufacturing
• Geography
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Asia
    • China
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Price advantage of biosimilars over biologics
• Patent expiry of major biologics
• Government initiatives to increase use of biosimilar medicines

However, the market also witnesses some limitations, which are as follows:

• Market access barriers for biosimilars
• Supply chain challenges of biosimilars
• Obstacles in giving reimbursement for biosimilars

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Market Scope in Biosimilars Market Research Report

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Research Analysis Overview

The Biosimilars Market encompasses the regulatory landscape, intellectual property considerations, and patent litigation surrounding biosimilar products. Key elements include guidelines for regulatory approval, frameworks for manufacturing technology and analytical methods, clinical endpoint assessment, and data analysis. Market research, analysis, and intelligence provide insights into industry trends, dynamics, innovation, and access initiatives. Quality assurance, control, and risk assessment ensure safety and cost-effectiveness, while supply chain and distribution strategies optimize market penetration. Education programs and awareness campaigns enhance patient safety and understanding.

Market Research Overview

The biosimilars market represents a significant segment within the larger pharmaceuticals industry, encompassing entities involved in the research and development (R&D) or production of these biologically similar alternatives to reference products. Monoclonal antibodies are a key therapeutic area for biosimilars, with increasing demand driven by their efficacy and cost savings compared to original biologics. The regulatory approval process for biosimilars is rigorous, requiring extensive clinical trials and comparisons to the reference product to ensure safety and efficacy. Technavio projects that the global pharmaceuticals market, which includes the revenue generated by manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, will experience growth due to demographic trends, such as an aging population. By 2050, approximately one-quarter of the US population and by 2030 in Europe, are projected to be over the age of 60 years, leading to a greater need for healthcare solutions, including biosimilars.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/