Global Biosimilars Market is
segmented on the basis of type as Recombinant Non-Glycosylated Protein,
Recombinant Glycosylated Protein, and Peptides. A particular type of drug or a
biological medicine that is formed out of a new biologic drug is known as a
biosimilar. It is generally produced when the patent adjoining a biologic
drug’s formula is left insecure. The manufacturers employ the similar chemical
recipe, cut down the cost and further make it less pricey. It is also popularly
known as follow-on biologic and subsequent entry biologic. The most striking
advantage associated with biosimilars is that the customers can afford them easily
as they are available at a much cheaper rate.
The key factors that are
responsible for raising the share of the Biosimilars Market include rise in the
industrialization, easy availability of the product, patent expiration,
augmenting applications, mounting frequency of disorders in various developing
nations, rising awareness among the end users regarding its use and rise in the
investments by the leading manufacturers. The leading manufacturers are taking
up various strategies including product extensions, technological improvements,
and mergers and acquisitions in order to enhance the markets share across the
globe.
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Owing to all the above-mentioned
factors, it has been anticipated that the Biosimilars Market will undergo a
huge growth in the next couple of years due to widening up of scope and applications
across the globe.
The Market is segmented on the
basis of technology as Monoclonal Antibodies (MAb), rDNA, NMR, Mass
Spectrometry, Western Blotting, Chromatography, Electrophoresis, and Bioassay.
Biosimilars Market is segmented on the basis of service as Contract Research
and Manufacturing Services (CRAMS), and Clinical Trials.
The Market is segmented on the
basis of application as Chronic and autoimmune diseases, Growth hormone
deficiencies, Blood disorders, Oncology diseases, and Others. Among all the
applications, Blood disorders is the segment that is taking up the largest
share, the reason being rise in the frequency of blood disorders particularly
in the developing nations.
Biosimilars Market is segmented
on the basis of end user as retail pharmacies and hospitals. Among all the end
users, “retail pharmacies” is the leading segment. Biosimilars Market is
segmented on the basis of geographical region as North America, Europe,
Asia-Pacific, Latin America and Middle East Africa.
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As far as the geographical region
is concerned, Europe is the leading country and it is simultaneously
registering for the largest share in the market, the reason being
implementation of suitable regulatory guidelines by the European Medical
Association. On the other hand, Asia-Pacific and Latin America and Middle East
Africa are also displaying a significant growth and it is likely that they will
soon come up as one of the promising regions in the near future. The prime
factors that can be attributed to the particular growth include increase in the
adoption of biosimilars and augmented demand for lucrative treatment as the
frequency of chronic diseases is tremendously rising.
The key participants operating in
the Market entails Sandoz, Hospira, Biocon, Celltrion, Dr. Reddys, Teva
Pharmaceuticals, STADA, Bionovis, BioXpress Therapeutics, Boehringer Ingelheim,
Boston Oncology, Aurobindo Pharma, Baxter, Bharat Serums, Bio Sidus, Biogen,
and Bioton.
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