This site uses cookies, including third-party cookies, that help us to provide and improve our services.

Privacy Policy
- Global Locations -
Headquarters
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware - 19713, United States
T: +1-845-579-5705
MEA
Market Access DMCC
1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Americas
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
Europe
Future Market Insights
3rd Floor, 207 Regent Street,
London W1B 3HH
United Kingdom
T: + 44 (0) 20 8123 9659
D: +44 (0) 20 3287 4268
APAC
Future Market Insights
Office No. 401-A, 4th Floor,
VANTAGE 9, S.No. 36/1/1,
Baner, Pune 411045 India

Interchangeable Biosimilars Market

Market Insights on Interchangeable Biosimilars covering sales outlook, demand forecast & up-to-date key trends

Interchangeable Biosimilars Market: Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031

Interchangeable Biosimilars Market Overview

According to the latest research by Future Market Insights, the interchangeable biosimilars market is set to experience 6% growth during the year 2021-2031. Biosimilars are products that are highly similar to reference products. This means that there are no clinical differences between the biosimilar product and the reference product in any terms (e.g. efficiency, safety and purity).

The biosimilar products approved by FDA and can be given by pharmacists without any physician’s prescription is known as an interchangeable biosimilar. The interchangeable biosimilars market is mainly driven by new product launches, increase research and development and approvals from the governing authorities.

Customize this Report

Let us know your requirement to get
100% FREE customization

What is the Driving Demand for Interchangeable Biosimilars?

Biosimilars can be used instead of reference biologics.  The growth of this market is anticipated due to the rise in research and development, cost-effectiveness and approval from the governing bodies.

According to FDA, currently, 31 biosimilars are approved and are available in the market. Biosimilars are usually cheaper than the original product and hence is expected to give huge savings without compromising the course of treatment.

This cost-effective property of biosimilars acts as a driver for the market. Since these products are cheaper and can be used instead of the reference product, there has been a surge in the demand. For instance, Amgen achieved a 56% growth in the revenues of biosimilars during the second quarter of 2021.

The companies are investing in the research and development of interchangeable biosimilars and for their approval. For instance, in July 2021, FDA approved the first interchangeable biosimilar, Semglee, produce by Biocon.

Impact of COVID on Interchangeable Biosimilars Market

The COVID-19 has impacted the interchangeable biosimilars market. Due to the pandemic, the research and development were mainly carried out in the field of COVID. Due to this shift, the research of biosimilars was affected. However, due to an increase in out-of-pocket spending and cheaper rates of biosimilars, the demand for the market increased. Hence, COVID-19 had both positive and negative impacts on the interchangeable biosimilars market.

Sabyasachi Ghosh
Principal Consultant
LinkedIn
Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst

Regional Demand Outlook for Interchangeable Biosimilars

The interchangeable biosimilars market is dominated by the North American region. This is due to the presence of the market player and the availability of interchangeable biosimilars. Also, the expiration of patents of leading drugs is expected to surge the demand of the market.  

Apart from this, there has been an increase in government initiatives and funding for improving the healthcare infrastructure. Followed by North America, Europe and Asia is dominating the interchangeable biosimilars market. This is due to the approval of more biosimilars for use in Europe and patients acceptance of the use of biosimilar.

Who are the Key Manufacturers and Suppliers of Interchangeable Biosimilars?

The manufacturers and suppliers of interchangeable biosimilars are Biocon and Mylan. The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Become a MarketNgage Insider

An unified Market Research Subscription Platform, built for today’s disparate research needs.

Key Segment

By Indication:

  • Crohn’s disease
  • Ulcerative Colitis
  • Psoriasis
  • Diabetes
  • Cancer

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Mail Order Pharmacies

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East and Africa

Table of Content

NA

Customize this Report

Let us know your requirement to get
100% FREE customization

List of Tables

NA

Sabyasachi Ghosh
Principal Consultant
LinkedIn
Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst

List of Charts

NA

Need specific information?

Request Customization

Explore Healthcare Insights

View Reports
Google translate

Interchangeable Biosimilars Market