Global Biosimilars And Biologics Industry Poised for Explosive Growth at 7.6% CAGR, Reaching US$1.06 Trillion by 2034 | FMI Report

Global Biosimilars And Biologics Industry
Global Biosimilars And Biologics Industry

The Global Biosimilars And Biologics Industry is poised for a remarkable surge, driven by the increasing demand for these advanced therapies. According to a recent analysis, the market is projected to experience a stellar Compound Annual Growth Rate (CAGR) of 7.6% from 2024 to 2034. This translates to a significant market expansion, with the value expected to climb from US$520.9 billion in 2024 to a staggering US$1.06 trillion by 2034.

The worldwide biosimilars and biologics market is thoroughly examined in FMI’s extensive business research, which provides a volumetric analysis of production, consumption, value, and historical trends. The market is divided into divisions by the study according to demand trends, development potential, geographic locations, and major players. This helps both existing and new market participants get important insights.

In a world characterized by dynamic challenges, the Biosimilars and Biologics market report from FMI emerges as an indispensable tool. It equips industry stakeholders with crucial information and forecast statistics, empowering them to formulate robust, long-term strategies. This strategic foresight is especially vital in navigating uncertainties, ensuring business continuity, and mitigating risks, such as those posed by the ongoing COVID-19 pandemic.

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COVID-19 Impact Analysis on Global Biosimilars And Biologics Industry

The recent outbreak of COVID-19 has turned the spotlight on the healthcare industry and subsequently impacted the Biosimilars and Biologics market. Severe shortages of critical medical supplies and a rapid rise in several COVID-19 cases have resulted in a revolution rather than an evolution in the healthcare ecosystems. Consequently, the impact is noticeable in the Global Biosimilars And Biologics Industry.

Following government measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.

The FMI’s report includes an interesting chapter on the preliminary impact of COVID-19 on the Global Biosimilars And Biologics Industry. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.

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Global Biosimilars And Biologics Industry: Segmentation

Valuable information covered in the FMI’s Global Biosimilars And Biologics Industry report has been segregated into key segments and sub-segments.

By Product Class:

  • Epoetins
  • Filgrastims
  • Insulins
  • Growth Hormones
  • Alfa Interferons
  • Monoclonal Antibodies
  • Beta Interferons
  • Follitropins
  • Low-molecular-weight Heparins (LMWH).

By Application:

Global Biosimilars And Biologics Industry: Competition Analysis

The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Global Biosimilars And Biologics Industry. Competitive information detailed in the Biosimilars and Biologics market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Global Biosimilars And Biologics Industry report.

Key players covered in the report include:

  • Pfizer Inc. (AC. Hospira)
  • Sandoz International GmbH
  • Teva Pharmaceutical Industries Ltd.
  • Reddy’s Laboratories
  • Biocon Limited

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Key Offerings of the Report

  • Growth Drivers and Opportunities: Comprehensive analysis of growth-driving factors and opportunities for market players in different regional markets
  • Recent Trends and Forecasts: Detailed assessment of the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
  • Segmental Analysis: Extensive analysis of each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
  • Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with the necessary information to make critical decisions
  • Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Biosimilars and Biologics market

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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