#Biosimilar market size

[aimarketresearch]

Biosimilar Market Size, Share, Key Growth Drivers, Trends, Challenges and Competitive Landscape

Data Bridge Market research has recently issued comprehensive industry research on Global Biosimilar Market which includes growth analysis, regional marketing, challenges, opportunities, and drivers analysed in the report.

Besides, Biosimilar market report studies market growth opportunities and restraining factors. The geographical division of this market analysis report offers data that gives an idea of the revenue of the companies and sales figures of the market growth. The market report also contains the drivers and restraints for the Biosimilar market that are obtained with the help of SWOT analysis, and also shows all the recent developments, product launches, joint ventures, mergers and acquisitions by the several key players and brands with their systemic company profiles, that are driving the market.

Access Full 350 Pages PDF Report @

Data Bridge Market Research analyses that the global biosimilar market which was USD 37,270.20 million in 2022, is expected to reach USD 343,520.90 million by 2030, and is expected to undergo a CAGR of 32.00% during the forecast period 2023-2030. “Oncology” dominates the product segment of the global biosimilar market owing to the owing to the increase in number of research studies, increasing research and development activities by key players focused on oncology and advancements in healthcare technologies. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

Key Questions Answered with this Study

1) What makes Biosimilar Market feasible for long term investment?

2) Know value chain areas where players can create value?

3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?

4) What geographic region would have better demand for product/services?

5) What opportunity emerging territory would offer to established and new entrants in Biosimilar Market?

6) Risk side analysis connected with service providers?

7) How influencing factors driving the demand of Biosimilarin next few years?

8) What is the impact analysis of various factors in the Global Biosimilar Market growth?

9) What strategies of big players help them acquire share in mature market?

10) How Technology and Customer-Centric Innovation is bringing big Change in Biosimilar Market?

Some of the major players operating in the global biosimilar market are:

Novartis AG (Switzerland)

 Orion Pharma AB (Sweden)

 Pfizer Inc. (U.S.)

Samsung Bioepis. (South Korea)

 Coherus BioSciences, Inc. (U.S.)

 Amgen Inc. (U.S.)

Eli Lilly and Company (U.S.)

 Takeda Pharmaceutical Company Limited. (Japan)

 Bristol-Myers Squibb Company (U.S.)

 Merck KGaA (Germany)

 Teva Pharmaceutical Industries Ltd. (U.S.)

 Biocon. (India)

 Bayer AG (Germany)

 AbbVie Inc. (U.S.)

 Allergan (Ireland)

 Dr. Reddy’s Laboratories Ltd. (India)

 Boehringer Ingelheim International GmbH. (Germany)

 Biogen (U.S.)

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Contact Us:

Data Bridge Market Research

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[insightslicelive]

Biosimilar Market Growth Opportunities Investment Analysis Report 2022-2032 | Amgen Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd.

Biosimilar Market Growth Opportunities Investment Analysis Report 2022-2032 | Amgen Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd.

The Biosimilar Market research report provides detailed observation of several aspects, including the shift in rate of growth, regional scope and recent developments by the primary market players. The report offers Porter’s Five Forces, PESTLE analysis to provide a complete research study on the global Biosimilar market. The research study discusses about important market strategies, future…

[healthcareanna]

Biosimilars Market Size, Trends, Growth Analysis 2032

Biosimilars Market Overview

An integral component of the Biosimilars Market is the emergence of follow-on biologics. These biologics, which closely resemble existing biologic drugs, offer additional options for patients and healthcare providers. Follow-on biologics undergo rigorous testing to demonstrate similarity to the reference product, ensuring interchangeability and therapeutic equivalence. With their introduction, follow-on biologics stimulate competition in the biopharmaceutical industry, driving down prices and promoting innovation. As the demand for cost-effective biologic therapies continues to grow, the Biosimilars Market stands to benefit from the availability and acceptance of follow-on biologics, expanding treatment options and improving patient outcomes.

According to Market Research Future (MRFR), the biosimilars market insights was valued at USD 29.7 billion in 2023 and is projected to grow from USD 36.79 Billion in 2024 to USD 161.95 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.35% during the forecast period (2024 - 2032).

Biosimilars Market: Latest News and Developments

The FDA has approved the first Humira biosimilar. Adalimumab-bwwd (Cyltezo), a Humira biosimilar, received FDA approval in January 2023 for the treatment of rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, juvenile idiopathic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and hidradenitis suppurativa.

Rising use of biosimilars in the treatment of cancer. A growing number of biosimilars are being used to treat cancer. The FDA authorised filgrastim-sndz (Zarxio), pegfilgrastim-jmdb (Onpro), and trastuzumab-dkst (Herzuma) as three biosimilars for the treatment of cancer in 2022.

Market Segmentation

Biosimilars industry can be considered with respect to product, applications, and end users.

The products based on which the market has been split into are recombinant glycosylated proteins, recombinant peptides, and recombinant non-glycosylated proteins. Recombinant non-glycosylated proteins are the biggest segment in the global market, thanks to the soaring cases of chronic disorders ranging from growth hormone deficiency to diabetes. As a result, recombinant non-glycosylated proteins are therapeutically used as they are readily available and are cost-effective.

Application-wise, the biosimilars market caters to chronic diseases, oncology, blood disorders, autoimmune diseases, infectious diseases, growth hormone deficiency, and more. Blood disorders have emerged as the top segment, as a result of the rising burden of the condition worldwide and the increased use of biosimilars by virtue of their low cost and the overall reduction in the treatment cost.

Major end users in the global market are hospitals and clinics as well as research institutes. Hospital and clinics are healthcare settings where treatment options and skilled professionals are easily available, and therefore, have emerged as the leading segment in the global industry.

Regional Status

Europe, MEA or Middle East & Africa along with the Americas, APAC or Asia Pacific are the primary markets for biosimilars.

Europe has taken the lead in the global market, as the region houses a vast elderly pool, with close to one fifth of the overall EU population aged more than 65 years. This has given way to several lifestyle-related disorders such as oncology, autoimmune diseases, diabetes, to name a few. Presumably, the scenario has raised the demand for biosimilars and can mean higher market growth over the next few years. In addition to this, numerous blockbuster biologics are on track to lose patent in the coming years, which should present lucrative opportunities to the biosimilar manufacturers.

The North American market displays a bright outlook and can emerge quite lucrative in the coming years, in view of the surging burden of chronic ailments in Canada and the United States. The rising spending on research activities by the healthcare agencies also fuels the market expansion in the region. Favorable reimbursement landscape in the region, especially in the US, encourages healthy competition as it results in lower incentives for the players to compete based on price.

The APAC market is slated to witness considerable growth, with China, South Korea and India offering a host of lucrative opportunities for drug development as well as commercialization. These are generics-driven countries and are known for frequently launching new and advanced manufacturing platforms, which has brought down the costs associated with biosimilar production. In the coming few years, majority of the patent expiries is touted to be in biosimilars, which is deemed as a profitable aspect by leading manufacturers and can translate into substantial market growth.

Eminent Vendors

Top global key players listed by biosimilars market outlook report include Stada Arzneimittel AG (Germany), Teva Pharmaceuticals (Israel), Biocon (India), Pfizer (US), Sandoz International (Germany), Eli Lily & Company (US), Actavis, Inc. (US), Dr. Reddy’s Laboratories (India), Cipla Ltd (India), Amgen, Inc. (US), Samsung Biologics (South Korea), Hospira Inc.(US), Mylan, Inc.(US), Celltrion (South Korea), to mention a few.

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[marketreports-blog]

According to a new market research report, the global biosimilars market size was USD 29.45 billion in 2023, calculated at USD 34.66 billion in 2024 and is expected to reach around USD 150.26 billion by 2033, expanding at a CAGR of 17.7% from 2024 to 2033. North America dominated the market with the largest revenue share of 41.0% in 2023.

[laxmandige05]

In the rapidly growing field of the global biosimilars Market size was valued at USD 25.72 billion in 2023 and is projected to reach USD 97.05 billion by 2032, growing at a CAGR of 15.9% from 2023 to 2032 according to a new report by Nova One Advisor.

[luckydige45]

In the rapidly growing field of the global biosimilars Market size was valued at USD 25.72 billion in 2023 and is projected to reach USD 97.05 billion by 2032, growing at a CAGR of 15.9% from 2023 to 2032 according to a new report by Nova One Advisor.

[stickyleadybloger]

https://peyezabe.com/blogs/48435/Insulin-Biosimilars-Market-Size-Analysis-Advancements-Behaviour-Challenges-Opportunities-and

Insulin Biosimilars Market Size, Analysis, Advancements, Behaviour, Challenges, Opportunities and Forecast 2020-2027

[joeypetter]

Biosimilars Market Size 2022 Industry Recent Developments and Technology, Size, Trends, Growth, and Forecast Research Report 2030| By R&I

The report is titled as ‘Biosimilars Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the biosimilars market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Biosimilars market is expected to grow with a significant rate in the near future.

The global biosimilars market in 2020 is estimated for more than US$ 11,036.2 Mn and expected to reach a value of US$ 1,09,501.8 Mn by 2028 with a significant CAGR of 33.5%.

Request a Sample Copy of this Report @: https://reportsandinsights.com/sample-request/1243

Biosimilars Market Dynamics

Patent expiration in the biological drug industry is the major factor driving the growth of global biosimilars market. Moreover, the introduction of clear regulatory pathways for the introduction of biosimilars to the market by many countries is further encouraging biosimilar development. For instance, recently India and Canada introduced regulations for approval of biosimilar drugs in respective countries. However, unlike generic chemical entities, producing identical copies of innovator cell-based drugs is impossible and takes more time, which is the biggest challenge for the growth of global biosimilars market. Biologics are produced by cells in culture or whole organisms, which are inherently more variable than chemical synthesis methods.     

Biosimilars Market Regional Overview

On the basis of region, the global biosimilars market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America biosimilars market is expected to be the most dominating market throughout the forecast period due to due to the expiry of patents for blockbuster biological drugs. The presence of key players in Europe makes it second-largest market for biosimilars. Asia Pacific biosimilars market is expected to witness delayed growth due to relatively long patent term for biological drugs

MMC Overview

The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.

A research report on the biosimilars market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support market and the factors that are acting as impedance for the growth of the market. Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Wish to Know More About the Study? Click here to get a Report Description: https://reportsandinsights.com/report/global-biosimilars-market

Biosimilars Market Key Players

Some of the key participating players in global Biosimilars market are:

    Pfizer

    Sandoz International

    Teva Pharmaceuticals

    Amgen

    Biocon

    Dr. Reddy’s Laboratories

    Celltrion

    Samsung Biologics

    Synthon Pharmaceuticals, Inc.

    LG Life Sciences

    Biocon

    Hospira

    Merck Serono (Merck Group)

    Biogen Idec Inc.

    Genentech (Roche Group)

Biosimilars Market Segmentation

The global Biosimilars market is segmented on the basis of product type, manufacturing, diseases, and region.

By Product Type

    Recombinant Non-Glycosylated Proteins

    Recombinant Human Growth Hormone (RHGH)

    Granulocyte Colony-Stimulating Factor (Filgrastim)

    Insulin

    Interferons

     Interferon-Beta

     Interferon-Alpha

    Recombinant Glycosylated Proteins

    Erythropoietin (EPO)

    Monoclonal Antibodies (MABS)

     Infliximab

     Rituximab

     Adalimumab

     Other Monoclonal Antibodies

    Follitropin

    Recombinant Peptides

    Glucagon

    Calcitonin

By Type of Manufacturing

    In-House Manufacturing

    Contract Manufacturing

By Disease

    Oncology

    Chronic Diseases

    Autoimmune Diseases

    Blood Disorders

    Growth Hormone Deficiency

    Infectious Diseases

    Other Diseases

By Region

    North America

    Latin America

    Europe

    Asia Pacific

    Middle East

    Africa

To view Top Players, Segmentation and other Statistics of Biosimilars Industry, Get Sample Report @: https://reportsandinsights.com/sample-request/1243

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Reports and Insights is one of the leading market research companies which offers syndicate and consulting research around the globe. At Reports and Insights, we adhere to the client needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.

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[aimarketresearch]

Biosimilar Market Size, Share, Key Growth Drivers, Trends, Challenges and Competitive Landscape

Data Bridge Market research has recently issued comprehensive industry research on Global Biosimilar Market which includes growth analysis, regional marketing, challenges, opportunities, and drivers analysed in the report.

Besides, Biosimilar market report studies market growth opportunities and restraining factors. The geographical division of this market analysis report offers data that gives an idea of the revenue of the companies and sales figures of the market growth. The market report also contains the drivers and restraints for the Biosimilar market that are obtained with the help of SWOT analysis, and also shows all the recent developments, product launches, joint ventures, mergers and acquisitions by the several key players and brands with their systemic company profiles, that are driving the market.

Data Bridge Market Research analyses that the global biosimilar market which was USD 37,270.20 million in 2022, is expected to reach USD 343,520.90 million by 2030, and is expected to undergo a CAGR of 32.00% during the forecast period 2023-2030. “Oncology” dominates the product segment of the global biosimilar market owing to the owing to the increase in number of research studies, increasing research and development activities by key players focused on oncology and advancements in healthcare technologies. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Access Full 350 Pages PDF Report @

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

Key Questions Answered with this Study

1) What makes Biosimilar Market feasible for long term investment?

2) Know value chain areas where players can create value?

3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?

4) What geographic region would have better demand for product/services?

5) What opportunity emerging territory would offer to established and new entrants in Biosimilar Market?

6) Risk side analysis connected with service providers?

7) How influencing factors driving the demand of Biosimilarin next few years?

8) What is the impact analysis of various factors in the Global Biosimilar Market growth?

9) What strategies of big players help them acquire share in mature market?

10) How Technology and Customer-Centric Innovation is bringing big Change in Biosimilar Market?

Some of the major players operating in the global biosimilar market are:

Novartis AG (Switzerland)

 Orion Pharma AB (Sweden)

 Pfizer Inc. (U.S.)

Samsung Bioepis. (South Korea)

 Coherus BioSciences, Inc. (U.S.)

 Amgen Inc. (U.S.)

Eli Lilly and Company (U.S.)

 Takeda Pharmaceutical Company Limited. (Japan)

 Bristol-Myers Squibb Company (U.S.)

 Merck KGaA (Germany)

 Teva Pharmaceutical Industries Ltd. (U.S.)

 Biocon. (India)

 Bayer AG (Germany)

 AbbVie Inc. (U.S.)

 Allergan (Ireland)

 Dr. Reddy’s Laboratories Ltd. (India)

 Boehringer Ingelheim International GmbH. (Germany)

 Biogen (U.S.)

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About Data Bridge Market Research:

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.

Contact Us:

Data Bridge Market Research

US: +1 888 387 2818

UK: +44 208 089 1725

Hong Kong: +852 8192 7475

Email: corporatesales@databridgemarketresearch.com

[mordorintelligencemarketresearch]

The Pharmaceutical Glass Vials and Ampoules Market: Insights and Future Trends 

Introduction 

The pharmaceutical glass vials and ampoules market plays a crucial role in the global healthcare landscape. These glass containers are essential for storing and preserving medications, vaccines, and other biologics, ensuring their integrity and effectiveness. As the pharmaceutical industry continues to expand, understanding the dynamics of this market is vital for stakeholders. 

Market Overview 

Current Market Size and Growth 

The Pharmaceutical Glass Vials and Ampoules market is projected to be valued at approximately USD 14.82 billion in 2024 and is expected to grow to around USD 20.73 billion by 2029. This growth reflects a compound annual growth rate (CAGR) of 6.94% during the forecast period from 2024 to 2029. This growth is largely driven by an increase in drug production and the rising demand for biologics and sterile products. 

Key Drivers of Growth 

Rising Biologics Demand: The increasing prevalence of chronic diseases and the growing biologics sector are major factors driving the demand for glass vials and ampoules. These products are preferred for their ability to maintain the stability and efficacy of sensitive formulations. 

Safety and Stability: Glass is inherently inert and non-reactive, making it an ideal material for pharmaceutical applications. Its ability to preserve the integrity of the contents, especially in sterile environments, boosts its popularity. 

Growing Vaccine Production: The COVID-19 pandemic has led to a surge in vaccine development and production, significantly impacting the demand for glass containers like vials and ampoules. 

Increasing Investment in R&D: Pharmaceutical companies are investing heavily in research and development, leading to the production of more complex and sensitive drugs that require specialized packaging solutions. 

Regional Insights 

North America 

North America is a leading market for pharmaceutical glass vials and ampoules, driven by a well-established pharmaceutical industry and stringent regulatory standards. The region's focus on innovation and quality assurance bolsters the demand for high-performance glass containers. 

Europe 

Europe also holds a significant share of the market, with countries like Germany and France leading in pharmaceutical production. The rising focus on biologics and biosimilars is further propelling market growth in this region. 

Asia-Pacific 

The Asia-Pacific region is expected to experience the highest growth rate, fueled by rapid industrialization, increasing healthcare expenditures, and a growing population. Emerging markets such as China and India are becoming key players in pharmaceutical manufacturing, driving the demand for glass vials and ampoules. 

Challenges Facing the Industry 

While the pharmaceutical glass vials and ampoules market is expanding, several challenges must be addressed: 

Cost of Production: The high cost of glass manufacturing can limit profitability, especially for smaller companies in a price-sensitive market. 

Regulatory Compliance: Adhering to stringent regulations regarding quality and safety can be complex and resource-intensive for manufacturers. 

Competition from Alternative Materials: The rise of alternative packaging materials, such as plastics and polymers, poses a potential threat to the glass market. 

Future Outlook 

The pharmaceutical glass vials and ampoules market is poised for continued growth, driven by several key trends: 

Sustainability Initiatives: As the industry moves toward sustainable practices, manufacturers are exploring eco-friendly production methods and recyclable glass solutions. 

Technological Advancements: Innovations in glass production, including improvements in design and functionality, will enhance the performance of vials and ampoules, catering to evolving market needs. 

Expansion in Emerging Markets: Increased investment in healthcare infrastructure in developing regions will create new opportunities for growth in the pharmaceutical glass packaging sector. 

Conclusion 

The pharmaceutical glass vials and ampoules market is on an upward trajectory, driven by rising demand for biologics, stringent safety standards, and ongoing innovations in packaging solutions. Stakeholders who focus on quality, sustainability, and technological advancements will be well-positioned to capitalize on the opportunities that lie ahead in this essential industry.    For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/pharmaceutical-glass-vials-and-ampoules-market 

[health-views-updates]

Cancer Biologics Market Future Outlook: Predictions and Analysis

The global cancer biologics market is projected to experience robust growth, with its market size expected to expand from USD 102.2 billion in 2023 to an impressive USD 195.5 billion by 2032. The market is set to grow at a compound annual growth rate (CAGR) of 7.5% during the forecast period from 2024 to 2032, driven by technological advancements in biologic therapies and an increasing global burden of cancer.

Cancer biologics are advanced therapeutic agents derived from living organisms or their products, such as proteins, DNA, and antibodies, designed to target specific cancer cells. Unlike traditional chemotherapy, biologics are often more precise and offer the potential to minimize damage to healthy cells, making them a preferred treatment option for various types of cancer.

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Key Drivers of Market Growth

Rising Cancer Incidence: The global rise in cancer cases is a significant factor propelling the demand for biologics. According to the World Health Organization (WHO), cancer is one of the leading causes of death globally, with millions of new cases diagnosed each year. As the global population ages, the incidence of cancer is expected to increase, driving the demand for effective and innovative treatment options like biologics.

Advances in Biotechnology and Immunotherapy: Recent advancements in biotechnology, particularly in immunotherapy and targeted therapies, are revolutionizing cancer treatment. Cancer biologics, such as monoclonal antibodies, cell-based therapies, and checkpoint inhibitors, have shown great promise in improving patient outcomes. The success of immuno-oncology therapies like CAR-T cell therapies and immune checkpoint inhibitors has expanded treatment options for patients and created a surge in market demand.

Personalized Medicine and Precision Oncology: The trend toward personalized medicine and precision oncology is another critical growth driver for cancer biologics. By tailoring treatments based on individual genetic profiles and tumor characteristics, biologics offer a more targeted approach to cancer treatment. This reduces the likelihood of adverse side effects and enhances treatment efficacy, particularly for patients with rare or aggressive cancers.

Favorable Regulatory Approvals: The regulatory landscape for cancer biologics has also improved in recent years, with several breakthrough therapies receiving fast-track approvals from regulatory bodies like the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). These expedited approval processes have encouraged pharmaceutical companies to invest in research and development (R&D) for new biologics, accelerating the market’s growth.

Challenges and Opportunities

While the cancer biologics market holds great promise, several challenges remain. High development costs, complex manufacturing processes, and the need for advanced infrastructure to produce biologics can act as barriers for smaller biotech firms. Additionally, the cost of cancer biologic therapies can be prohibitively expensive, limiting access for patients in low- and middle-income countries.

However, significant opportunities exist, particularly in the areas of biosimilars and next-generation biologics. As patents for several blockbuster biologic drugs expire, the market for biosimilars—cheaper, highly similar alternatives—will expand, offering more affordable treatment options for cancer patients. Moreover, continuous innovation in biopharmaceuticals, including advancements in gene editing and cell-based therapies, will open new pathways for cancer treatment, further driving market growth.

Regional Insights

North America continues to dominate the cancer biologics market, attributed to its strong healthcare infrastructure, high levels of investment in R&D, and a large patient population. The U.S. market, in particular, benefits from government support for cancer research and early adoption of innovative therapies.

Europe follows closely, with significant investments in biotechnology and increasing access to advanced cancer treatments. The Asia-Pacific region is expected to witness the fastest growth during the forecast period due to rising cancer incidence, improving healthcare infrastructure, and increasing government initiatives to promote cancer research. Countries like China and India are becoming key players in the market, with growing R&D activities and expanding access to biologic treatments.

Future Outlook

The future of the cancer biologics market looks promising, with continued advancements in biotechnology, precision medicine, and immunotherapy expected to drive significant growth. With a projected CAGR of 7.5% from 2024 to 2032, the market is on track to nearly double in size, reaching USD 195.5 billion by 2032. Biologics will play a central role in the ongoing battle against cancer, offering new hope for patients and transforming cancer care worldwide.

In conclusion, the cancer biologics market is set for robust growth, driven by rising cancer incidence, advancements in biotechnology, and the increasing adoption of personalized medicine. From USD 102.2 billion in 2023, the market is expected to reach USD 195.5 billion by 2032, significantly impacting the global healthcare landscape.

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[marketreports-blog]

According to the latest research by nova one advisor, the global Biosimilars market size was exhibited at USD 22.19 billion in 2022 and it is expected to hold around USD 97.05 billion by 2032, growing at a CAGR of 15.9% from 2023 to 2032.

[laxmandige05]

The global biosimilars market size was exhibited at USD 22.19 billion in 2022 and is projected to hit around USD 97.05 billion by 2032, growing at a CAGR of 15.9% during the forecast period 2023 to 2032.

[tamanna31]

Pharmacovigilance Market Size, Share, Growth, Analysis Forecast to 2030

Pharmacovigilance Industry Overview

The global pharmacovigilance market size was estimated at USD 7.32 billion in 2023 and is anticipated to grow at a CAGR of 6.8% from 2024 to 2030.

The rising incidence of Adverse Drug Reactions (ADRs) owing to drug abuse and the prevalence of diseases that require a combination of drugs are the major growth drivers for the market. In addition, an upward shift in the production of novel drugs and the presence of stringent government regulatory frameworks for drug safety are significantly boosting the market growth. For instance, the U.S. FDA and the EU’s European Medical Agency (EMA) formulate regulatory guidelines for all phases of clinical trials. Moreover, advancements in the development of ADR databases and information systems have enabled accurate reporting of information, which can be further utilized by research professionals for prospective clinical studies, thereby fueling overall growth.

Gather more insights about the market drivers, restrains and growth of the Pharmacovigilance Market

A rise in the incidence of chronic diseases, such as cancers, diabetes, and cardiovascular & respiratory disorders, has led to an increase in drug consumption worldwide. According to a WHO report on pharmaceutical consumption, medicines to treat chronic diseases accounted for a larger proportion of the total volume of drug consumption in nonhospital setups. Increasing drug development activities in areas such as personalized medicines, biosimilars, orphan drugs, and companion diagnostics, along with adaptive trial designs, is projected to boost the demand for pharmacovigilance services in the coming years.

Furthermore, the increasing incidence of ADR and drug toxicity is fueling the market growth. According to the National Center for Biotechnology Information (NCBI), approximately 5% of total hospitalizations in a year are due to ADR in Europe. Furthermore, a February 2022 article published in the Journal of Current Medicine Research and Practice titled "Characterization of Seriousness and Outcome of Adverse Drug Reactions in Patients Receiving Cancer Chemotherapy Drugs - A Prospective Observational Study" revealed that serious Adverse Drug Reactions (ADRs) in the U.S. result in over 100,000 deaths annually and have been a major health concern since the past decade.

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The global personalized medicine market was valued at USD 529.28 billion in 2023 and is projected to grow at a CAGR of 8.20% from 2024 to 2030.

The global medical writing market size was valued at USD 3.8 billion in 2022 and is expected to expand at a CAGR of 10.46% from 2023 to 2030.

Key Pharmacovigilance Company Insights

The market is characterized by a few notable players, including Accenture, IQVIA, Cognizant, Aris Global, and IBM Corporation. These manufacturers are actively utilizing strategic initiatives such as mergers and acquisitions to strengthen their market positions. For instance, in October 2023,  IQVIA strategically collaborated with argenx to advance treatment to patients with rare autoimmune diseases through innovative and integrated technology-enabled pharmacovigilance (PV) safety services and solutions.

"We look forward to collaborating closely with IQVIA on this important business need. We aim to innovate in all that we do and IQVIA’s technology-enabled PV services and solutions will allow for efficient data integration as we work to bring new treatment options to autoimmune patients”.

- Tim Van Hauwermeiren, CEO, argenx.

In November 2022, Linical Americas (a U.S. subsidiary of The Linical Group) and Science 37 Holdings, Inc. announced a partnership to enable the deployment of hybrid and fully decentralized trials. This partnership will provide enhanced access to Linical’s offerings.

“By partnering with Linical, we have an important new ally in our mission to accelerate clinical research and enable universal access for patients,” “Our technology-enabled Metasite will empower and enhance Linical’s solutions, helping patient’s access new life-changing treatments quicker, in the largest and most prevalent therapeutic areas.”

- ”David Coman, Chief Executive Officer of Science 37

Recent Developments

In March 2023, ICON plc and LEO Pharma announced partnerships to impel execution of clinical trials in medical dermatology space.

“We’ve been exploring several outsourcing models but found a hybrid sourcing model to be the most efficient. Partnering with ICON supports our 2030 strategy as it will help us to bring innovative treatments to patients faster while also supporting a more sustainable business through scalability and flexibility. “ICON’s wealth of services and leading position in clinical development will support LEO Pharma’s R&D strategy building on driving innovation through partnerships and support staying competitive.”

- Jörg Möller, Executive Vice President and head of Global R&D at LEO Pharma

In February 2023, Parexel International Corporation announced the launch of Expert Series-New Medicines, Novel Insights. The series features latest insights from company’s cross-functional experts postanalysis of trends that impact drug development and evidence-based guidance for the biopharmaceutical industry.

“Cutting-edge medicines are becoming more personalized and precise across the therapeutic landscape, while the process to develop those therapies is reaching new heights of complexity. “Parexel’s New Medicines, Novel Insights research series offers expert-led guidance to deliver on the promise of patient-focused drug development and bring impactful treatments to patients more rapidly.”

- Amy McKee, MD, Chief Medical Officer and Head of Oncology Center of Excellence

Key Pharmacovigilance Companies

The following are the leading companies in the pharmacovigilance market These companies collectively hold the largest market share and dictate industry trends

Accenture

IQVIA Inc.

Cognizant

Clinquest Group B.V. (Linical Americas)

IBM

Laboratory Corporation of America Holdings

ArisGlobal

Capgemini

ITClinical

ICON plc.

TAKE Solutions Limited

Parexel International (MA) Corporation

Wipro

United BioSource LLC

BioClinica Inc. (Clario)

ClinChoice (formerly FMD K&L

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