Global Biosimilar Pipeline Analysis Market Is Estimated To Witness High Growth Owing To Increasing Investments in Biosimilar Development
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Biosimilar Pipeline Analysis Market |
The global Biosimilar Pipeline Analysis market is estimated to be valued at US$ 20.4 Bn in 2021 and is expected to exhibit a CAGR of 15.5% over the forecast period 2022-2031, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
The Biosimilar Pipeline Analysis market refers to the analysis of the pipeline of
biosimilar products that are currently under development. Biosimilars are
biologic medical products that are highly similar to existing approved
biological products. They offer significant advantages such as reduced cost
compared to originator biologics, and increasing patient access to life-saving
treatments. The need for biosimilar products arises due to the high cost
associated with biologic drugs and the expiry of patents for biologic products.
Biosimilar development has gained traction in recent years due to favorable
regulatory pathways and increasing investments by pharmaceutical companies.
B) Market key trends:
One key trend driving the growth of the Biosimilar Pipeline Analysis market is
the increasing investments in biosimilar development. Pharmaceutical companies
are investing heavily in research and development of biosimilar products to
capitalize on the growing demand for cost-effective biologic treatments. For
example, Biocon, one of the key players in the market, has a robust biosimilar
pipeline with multiple products under development, such as trastuzumab,
bevacizumab, and adalimumab. These investments in biosimilar development are
driven by factors such as patent expirations of biologic drugs, the potential
for significant cost savings, and the growing demand for accessible healthcare.
C) PEST Analysis:
Political: The biosimilar market is affected by political factors such as
regulatory policies and intellectual property rights. Government regulations
play a crucial role in determining the pathway for biosimilar approval and
market access.
Economic: The Biosimilar
Pipeline Analysis market is driven by economic factors such as the
increasing cost of biologic drugs and the need for cost-effective treatment
options. Biosimilar products offer significant cost savings compared to their
originator counterparts.
Social: Social factors such as the need for affordable healthcare and
increasing awareness about biosimilar products among patients and healthcare
professionals are fueling the demand for biosimilars.
Technological: Technological advancements in biologic manufacturing processes
and analytical methods have facilitated the development and production of
biosimilars with high similarity to reference products.
D) Key Takeaways:
- The global Biosimilar Pipeline Analysis market is expected to witness high
growth, exhibiting a CAGR of 15.5% over the forecast period, due to increasing
investments in biosimilar development.
- The fastest-growing region in the Biosimilar Pipeline Analysis market is expected
to be North America, driven by a favorable regulatory landscape, increasing
demand for cost-effective treatments, and significant investments in biosimilar
development.
- Key players operating in the global Biosimilar Pipeline Analysis market include
Biocon, Pfizer Inc., F. Hoffmann-La Roche Ltd, Amgen Inc., Kyowa Pharmaceutical
Industry Co. Ltd, Boehringer Ingelheim GmbH, AstraZeneca, Novartis AG, and
Merck & Co. These players are actively involved in research and development
activities to expand their biosimilar pipeline and gain a competitive edge in
the market.
In conclusion, the Biosimilar Pipeline Analysis market is poised for
significant growth due to increasing investments in biosimilar development.
Biosimilar products offer cost-effective alternatives to biologic drugs, making
them crucial in improving patient access to life-saving treatments. With
favorable regulatory pathways and technological advancements, the biosimilar
market is expected to witness rapid expansion in the coming years.
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