Biosimilars Market Scope And Analysis

Report Code : TIPHE100001246
Category : Life Sciences

Status : Published
No. of Pages : 223

Buy Now

Biosimilars Market Analysis, Scope, and Growth by 2028

Buy Now

Biosimilars Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 18.44 Billion
Market Size by 2028	US$ 136.07 Billion
Global CAGR (2021 - 2028)	34.8%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Disease Indication Cancer Diabetes Autoimmune Diseases Other Disease Indications By Drug Class Granulocyte Colony-Stimulating Factor Insulin TNK Blockers & Monoclonal Antibodies By Route of Administration Intravenous Subcutaneous By End User Hospital Specialty Clinics Homecare
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Biocon Ltd Sanofi Aventis Celltrion Inc Amgen Inc Pfizer Inc Samsung Bioepis Sanofi SA Coherus BioSciences Inc Dr Reddy

Recent Developments

Inorganic and organic strategies such as mergers and acquisitions, product launches are highly adopted by companies in the biosimilars market. A few recent key market developments are listed below:

In January 2022, Biocon Biologics a subsidiary of Biocon Ltd. Completed Acquisition of Viatris’ Global Biosimilars Business. The acquisition provides Biocon Biologics with direct commercial capabilities and supporting infrastructure in the advanced markets and several emerging markets, bringing it closer to patients, customers, and payors. With this acquisition Biocon Biologics emerges as a world leading biosimilars player with eight commercialized products.
In October 2022, Biocon Biologics Out-Licenses Two Biosimilar Assets to Yoshindo for Commercialization in Japan. Under the terms of this deal, Yoshindo gets exclusive commercialization rights in Japan for bUstekinumab and bDenosumab developed and manufactured by Biocon Biologics, for an addressable market opportunity of US$ 700 million.
In December 2022, Celltrion USA announced submission of the Biologics License Application (BLA) of novel subcutaneous formulation of CT-P13 to FDA. A subcutaneous formulation has the potential to enhance treatment options for the use of the infliximab drug by providing high consistency in drug exposure and a convenient method of administration.
In September 2022, Celltrion USA received U.S. FDA approval for its oncology biosimilar Vegzelma for the treatment of six types of cancer such as metastatic colorectal cancer; recurrent or metastatic non-squamous non-small cell lung cancer (nsNSCLC); recurrent glioblastoma; metastatic renal cell carcinoma; persistent, recurrent, or metastatic cervical cancer; and epithelial ovarian, fallopian tube, or primary peritoneal cancer. Vegzelma is Celltrion’s third oncology biosimilar to receive approval from the U.S. FDA.
In May 2022, Biocon Biologics and Viatris Launch Abevmy. Biocon Biologics Ltd., a subsidiary of Biocon Ltd., and Viatris Inc. announced that Abevmy (bBevacizumab) is available in Canada. Abevmy, co-developed by Biocon Biologics and Viatris, is a biosimilar to Roche’s Avastin (Bevacizumab) and has been approved by Health Canada across four oncology indications.