Biosimilars Market to reach a size of US$ 100.5 Bn by the end of 2032 – GlobeNewswire

New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Rapid growth of the pharmaceutical realm and higher prices of existing biological drugs are likely to foster attractive growth avenues in the biosimilars market. Biosimilars market is expected to reach US$ 100.5 Bn by the year 2032 as compared to the value of US$ 30.1 Bn at present. The market is slated to witness a CAGR of 14.1% between 2022 and 2032

Biosimilars are known for various economic and clinical benefits, which are poised to take the entire healthcare vertical by storm in the near future. RND Corporation has also certified that increasing frequency of these drugs worldwide is likely of increasing direct spending regarding biologics by close to US$ 54 Bn by the year 2026.

At the same time, easy availability of generic drugs is likely to restrain the biosimilars market in the forecast period.

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Key Takeaways from Biosimilars Market

Biosimilars cost-effectiveness renders them one of the preferred choices to treat several rare and chronic diseases at the global level. says an analyst belonging to Persistence Market Research

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Market Competition

Persistence Market Research has mentioned about the key developments in biosimilars market. They include partnerships, agreements, collaborations, and likewise.

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What does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the biosimilars market in its latest study, presenting historical demand assessment of 2016 2021 and projections for 2022 2032.

The research study is based on the type of product (recombinant glycosylated proteins and recombinant non-glycosylated proteins), by application (hematology, growth hormone deficiency, oncology, diabetes autoimmune, disease, and likewise), and distribution channel (online pharmacies, hospital pharmacies, and retail pharmacies).

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Rapid growth of the pharmaceutical realm and higher prices of existing biological drugs are likely to foster attractive growth avenues in the biosimilars market.

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Biosimilars Market to reach a size of US$ 100.5 Bn by the end of 2032 - GlobeNewswire