Product ID: SQMIG35H2167
Report ID:
SQMIG35H2167 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
70 |
Figures:
75
Biosimilars Market size was valued at USD 15.6 billion in 2019 and is poised to grow from USD 19.27 billion in 2023 to USD 128.76 billion by 2031, growing at a CAGR of 23.5% in the forecast period (2024-2031).
A biopharmaceutical product that is highly comparable to a standard biologic medication is referred to as a biosimilar, also known as just a biologic. Its complicated molecular system is built by living things or cells. Firms focus on regulating body authorization to launch the manufacturing of biosimilars when the patents on a biologic medication fall. A biological medication must be demonstrated to be identical in regards to quality, safety, and efficiency in order to be labeled as a biosimilar. Biosimilars are much more costly than generic medicines because their development needs greater rd spending and is much more complicated.
Several causes, including the patent expirations of popular biological therapies, decreased pricing, the increased frequency of chronic illnesses, and cost-cutting efforts by government agencies and 3rd party suppliers, are now driving this industry.
US Biosimilars Market is poised to grow at a sustainable CAGR for the next forecast year.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONBiosimilars Market size was valued at USD 15.6 billion in 2019 and is poised to grow from USD 19.27 billion in 2023 to USD 128.76 billion by 2031, growing at a CAGR of 23.5% in the forecast period (2024-2031).
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG35H2167