Press Release: April 27, 2020
Biosimilar product is highly similar with another biological products made by different manufacturer. Biosimilar product is licensed by the US Food and drug Administration (FDA). This product is almost similar to its parent product in terms of its purity, potency and safety and thoroughly follow the regulatory pathway. Though it has minor modifications in clinically inactive components.
Biosimilar is majorly applied in Pharmaceuticals, Medical, Biotechnology and Healthcare sectors. The major driving factor of this market is cost effectiveness which is significantly less than its original clinical product. Cost effectiveness helps to drive uptake the biosimilar market by increasing treatment. Every biosimilar product is identified by its individual brand name and it will be different from other biosimilar products. After expiration of original product there is a huge opportunity for generic version of biosimilar market. Biosimilar product is highly targeting to monoclonal antibodies (MAbs) development. Other important segments of this market are: Insulin, Human Growth Hormone, Erythropoietin and Interferon. Biosimilar products are highly sensitive for manufacturing changes. One of the potential threats of biosimilar product is immunogenicity, an antigen, to provoke the immunity of human body.
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The key players of this market are Amgen Inc., Novartis AG, Dr. Reddy’s Laboratories Ltd., F. Hoffmann-La Roche Ltd., Mylan N.V., Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Samsung Bioepis, LG Life Sciences and Biocon.
The Global Biosimilar Market has been segmented on the basis of types of products, application and key geographies. The research report “Global Biosimilar Market” provides in-depth analysis of global Biosimilar market based on types of products, application and major geographies for the forecast period from 2018 to 2024. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global Biosimilar market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report:
1- At what pace is Biosimilar market growing? What will be growth trend in future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Biosimilar?
4- What are the various application areas and how they are poised to grow?
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