PUBLISHER: Azoth Analytics | PRODUCT CODE: 1566303
PUBLISHER: Azoth Analytics | PRODUCT CODE: 1566303
Azoth Analytics has released a research report titled "Global Immunology Biosimilars Market (2024 Edition)" which provides an analysis of the Global Immunology Biosimilars industry in terms of market segmentation By Indication (Arthritis, Irritable Bowel Disease, Other Indications), By Distribution Channel (Hospital Pharmacies, Retail & Online Pharmacies) for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030.
The report analyses the Immunology Biosimilars Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, Japan, India). The Global Immunology Biosimilars market showcased growth at a CAGR of 17.92% during 2020-2023. The market was valued at USD 8033.37 Million in 2023 which is expected to reach USD 16228.80 Million in 2030.
The global Immunology Biosimilars market is expected to witness strong growth during the forecast period, driven by multiple factors. A key factor is the rising incidence of chronic immunological conditions such as rheumatoid arthritis, psoriasis, and inflammatory bowel disease, which is fueling the demand for cost-effective treatment solutions. As affordable alternatives to branded biologics, biosimilars are gaining significant traction, especially in regions with well-established healthcare systems and expanding patient populations.
Another major growth driver is the expiration of patents on blockbuster biologic drugs, opening the door for biosimilars to enter the market. This trend is particularly evident in developed markets like Europe and the Americas, where governments are promoting the use of biosimilars through favorable regulatory policies aimed at lowering healthcare costs.
In addition, the expansion of healthcare infrastructure in emerging markets, notably in the Asia Pacific region, is facilitating wider access to advanced therapies, boosting the demand for immunology biosimilars. Rising awareness of biosimilars and government-led initiatives are also expected to further stimulate market growth.
Moreover, leading industry players are increasingly focusing on strategic partnerships and ramping up investments in research and development to enhance their product offerings and expand their market reach, driving the market's continued expansion.
Scope of the Report: