According to the research report titled ‘Biosimilars Market Size By Product (Recombinant Non-Glycosylated Proteins {Human Growth Hormone, Granulocyte Colony-Stimulating Factor, Insulin, Interferon}, Recombinant Glycosylated Proteins {Erythropoietin, Monoclonal Antibodies, Follitropin, Low Molecular Weight Heparin}), By Application (Haematology {Neutropenia, Anaemia}, Oncology {Lung Cancer, Brain Cancer, Breast Cancer, Cervical Cancer, Colorectal Cancer, Leukaemia or Blood Cancer}, Autoimmune Disease {Arthritis, Inflammatory Bowel Disease, Psoriasis}, Growth Hormone Deficiency, Diabetes), By Manufacturer (Contract Research and Manufacturing Services, In-house), By Technology (Recombinant DNA Technology, Monoclonal Antibodies Technology) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, the global biosimilars market is expected to surpass USD 69 billion by the year 2025.
 

According to the report, rising adoption of sedentary lifestyle in Latin America and Asia-Pacific regions has led to increased pervasiveness of chronic diseases, which in turn is driving the biosimilars market growth. Shifting focus towards reducing healthcare costs has fueled the demand for biosimilar drugs, hence aiding the market expansion. However, high manufacturing costs associated with biosimilar drugs may hinder the market growth.
 

As per product type, the report states that recombinant non-glycosylated proteins segment held the largest share in the biosimilars market in the year 2018 and is expected to grow by 26.1% by 2025. Advancements in cell technology, development of insulin glargine, and rising demand for filgrastim are fueling the segmental growth.
 

Based on the application spectrum, biosimilars market from hematology application segment was worth USD 4,552.1 million in the year 2018. Rising prevalence of blood disorders such as anemia and neutropenia are stimulating the industry outlook.
 

In terms of manufacturer, the report cites that in-house segment held 75% share in biosimilars market in the year 2018 and is presumed to expand by 26.5% during the estimated timeframe. In-house manufacturing of biosimilars offers efficiency and flexibility. Moreover, it enables companies to assess and monitor the production processes as well as minimize delivery costs. Thus, aforementioned factors are facilitating the business scenario.
 

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Speaking of technology landscape, recombinant DNA technology segment held 80% share in biosimilars market and was worth USD 8,123.6 million in the year 2018. Biosimilars produced using recombinant DNA technology are capable of treating ailments effectively and immediately, which is promoting the adoption of the technology.
 

As per regional analysis, the report states that the U.S. held the largest share in North America biosimilars market and is expected to grow by 38.1% during the forecast period. Availability of state-of-the-art facilities for producing biosimilars, high concentration of key industry players, and recent FDA approvals for biosimilars are augmenting the regional market share.
 

Zydus Cadila, Wockhardt, Teva Pharmaceutical, STADA Arzneimittel, Sanofi, Samsung Bioepis, Ratiopharm, Novartis (Sandoz), Merck, Lupin, Intas Biopharmaceuticals, Elli Lilly & Co., Dr. Reddy’s Laboratories, Coherus BioSciences, Celltrion, Boehringer Ingelheim, Biogen, Biocon, Amgen, and 3SBio are the prominent companies operating in the biosimilars market.