Biosimilars Market | Exactitude Consultancy Reports
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The global biosimilars market size is to be valued at USD 84.19 billion by 2029 and is expected to grow at a compound annual growth rate (CAGR) of 23.5% during the forecast period.
Biosimilars Market Overview
Biosimilars are biological drug that are like another biological reference drug that has been approved by the U.S. Food and Drug Administration (FDA). Both reference pharmaceuticals and biosimilar drugs are derived from living things, however they may be produced in slightly different methods and with slightly different materials.
Segment Analysis
The Biosimilars market is segmented on the basis of product and indication.
On the basis of product, the market is segmented into monoclonal antibodies, insulin, granulocyte colony-stimulating factor, erythropoietin, recombinant human growth hormone, etanercept, follitropin, teriparatide, interferons, enoxaparin sodium, glucagon, calcitonin. monoclonal antibodies are further sub segmented into infliximab, rituximab, trastuzumab, adalimumab, others. The biosimilars market is dominated by Monoclonal Antibodies. Monoclonal Antibodies and Insulin are likely to be the fastest-growing segments during the estimated period, due to the extensive use of monoclonal antibodies in the treatment of cancer, osteoporosis, and autoimmune disorders as well as growing occurrences of insulin-dependent diabetes globally and rising demand for cost-effective treatment options. Additionally, predicted to expand the fastest during the prediction period is the erythropoietin segment. The erythropoietin aids in the production of red blood cells in the bone marrow and it also treats the anemia well.
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