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Biosimilars Market And its Growth prospect in the Near Future

On the basis of technology, the biosimilars market is categorized into five categories, such as monoclonal antibody (mAb), recombinant deoxyribonucleic acid (rDNA), bioassays, nuclear magnetic resonance (NMR), and electrophoresis. Biosimilars manufactured using mAb technology held the largest share, of 56%, in 2018. This technology is also expected to be the fastest growing category in the market, owing to large development of therapeutics with the help of this technology for various diseases such as cancer, immunological, and infectious diseases.<br>Geographically, Europe held the largest share, of 47.7%, in the biosimilars market in 2018. This is attributed to flexible regulatory framework, growing geriatric population, and rising R&D investment by biopharmaceutical companies in the region.<br><br>Access Detailed Report Summary: https://www.psmarketresearch.com/market-analysis/biosimilars-market<br>

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Biosimilars Market And its Growth prospect in the Near Future

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  1. Biosimilars Market Size to Reach $26.7 Billion by 2024

  2. Biosimilars market is expected to generate $26.7 billion revenue by 2024, advancing at a CAGR of 29.6% during the forecast period, according to P&S Intelligence. The market is majorly driven by rising prevalence of chronic diseases, increasing investment in research and development (R&D) activities by biopharmaceutical companies, extensive pipeline of biosimilars, growing geriatric population, and inexpensive nature of biosimilars as compared to reference drugs. On the basis of technology, the biosimilars market is categorized into five categories, such as monoclonal antibody (mAb), recombinant deoxyribonucleic acid (rDNA), bioassays, nuclear magnetic resonance (NMR), and electrophoresis. Biosimilars manufactured using mAb technology held the largest share, of 56%, in 2018. This technology is also expected to be the fastest growing category in the market, owing to large development of therapeutics with the help of this technology for various diseases such as cancer, immunological, and infectious diseases. Access Detailed Report Summary: https://www.psmarketresearch.com/market-analysis/biosimilars-market “

  3. Additionally, according to the Arthritis Foundation, among people aged 18–64 years, about one in three people (both men and women) have doctor-diagnosed arthritis and/or report joint symptoms consistent with a diagnosis of arthritis in the U.S. People over 65 years of age, more than one in two men may have arthritis; and over two in three women are reported to have arthritis. Biosimilars have potential to treat such chronic diseases, which are most frequently reported among aged people. Moreover, companies in North America are more independent for pricing their products as compared to other regions, and trained scientific personnel and advanced technologies are readily accessible in North America, which make the region more suitable for pharmaceutical companies. Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/biosimilars-market/report-sample “

  4. Furthermore, in January 2019, Samsung Bioepis Co. Ltd. partnered with 3SBio Group to expand the biosimilar business in China. Through the partnership, Samsung Bioepis Co. Ltd. will be able to widen its biosimilars portfolio and 3SBio Group will be benefited from the sales of Avastin. In another strategic move, Celltrion Inc. in partnership with Teva Pharmaceutical Industries Ltd. announced the approval of Herceptin’s biosimilar, Herzuma, in October 2016. As a result, both companies got benefit from the sales of Herzuma. Also, Amgen Inc., Sandoz International GmbH, Samsung Bioepis, and Mylan N.V. jointly launched adalimumab in 2018 in the European biosimilars market and they are expected to launch this biosimilar in the U.S. market by 2023. Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=biosimilars-market “

  5. Some of the key players in the global biosimilars market are AMEGA Biotech, Samsung Bioepis Co. Ltd., CoherusBioSciences Inc., Synthon Holding B.V., BIOCAD, Zydus Cadila, Celltrion Inc., Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Limited, Novartis AG, Pfizer Inc., and Mylan N.V. “

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