New York City, NY, 06 May, 2020/ 24 Market Reports: It is estimated for the biosimilars market to reach USD 35.7 billion by 2025 from USD 11.8 billion in 2020, at a CAGR of 24.7%. The rising incidence of chronic diseases and the increasing demand for biosimilars due to their cost-effectiveness is driving the growth of the market during the forecast period.
Monoclonal antibodies segment to dominate the biosimilars market in 2019
Based on the product, the biosimilars market industry is segmented into insulin, monoclonal antibodies, recombinant human growth hormone (rhGH), granulocyte colony-stimulating factor, interferon, erythropoietin, etanercept, follitropin, glucagon, calcitonin, and teriparatide and enoxaparin sodium. The monoclonal antibody segment accounted for the largest market share in 2019. This is attributed primarily to the rising incidence of cancer and the increasing number of product launches/approvals.
Infliximab segment to dominate the monoclonal antibody industry in 2019
Based on the monoclonal antibody, the biosimilars market industry is segmented into infliximab, rituximab, trastuzumab, adalimumab, and other monoclonal antibodies. The infliximab segment accounted for the largest biosimilars market share in 2019. The growing prevalence of autoimmune diseases drives market growth.
Europe is estimated to lead the market throughout the forecast period
North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa are the segmentation for the market during the forecast period. Europe is estimated to drive the growth of the market during the forecast period. Rising incidences of chronic diseases, the increasing geriatric population in this region are the factors that are driving the growth of the market during the forecast period.
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