US Biosimilars Market Size To Reach $22,996M By 2027; Recent Scientific Discoveries Have Indicated Signs Of A Promising Future, Says Fortune Business Insights™

Key Companies Covered in the US Biosimilars Market Research Report Are Novartis AG, Mylan N.V., Coherus BioSciences, Inc., AbbVie Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Celltrion Inc., Amgen Inc. and other key market players.

Pune, Maharashtra (GLOBE NEWSWIRE) - The US Biosimilars Market size is projected to reach USD 22,966 million by the end of 2027. The presence of several large scale companies that are engaged in the research and development of efficient biosimilars will have a huge impact on the growth of the overall market in the foreseeable future.

According to a report published by Fortune Business Insights, titled “US Biosimilars Market Share, Size & COVID-19 Impact Analysis, By Drug Class (Filgrastim & Pegfilgrastim, Monoclonal Antibodies and Others), By Disease Indication (Caner, Auto Immune Diseases (Arthritis, Psoriasis, Neutropenia, and others), and Others) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy),” the market was worth USD 737.2 million in 2019 and will exhibit a CAGR of 46.2% during the forecast period, 2020-2027.

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A biosimilar is a biological product that is similar to the reference biologic or a particular set where there are no clinical differences. Contrary to generics, the costs associated with biosimilars are significantly lower; a primary reason why there several studies that are revolving around the product. The increasing R&D initiatives as well as investments to enable applications across diverse industry verticals will bode well for the growth of the overall market in the coming years.

These products are a copy of biological drugs but do not possess a few properties that biologics are gifted with. Despite the variations in products, most of the biosimilars are made with the help of the same base product or amino acid. The reference drug for biosimilars is the previously approved as well as used drug that has been in the market for a considerable period of time.

An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

To get the short-term and long-term impact of COVID-19 on this Market.
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Despite the Negativities Surrounding the Covid-19 Pandemic, Companies in the US Biosimilars Market to Draw Positive Numbers
The recent coronavirus outbreak has created a sense of panic across the world. Owing to the increasing cases of coronavirus and the rapid spread of the disease, governments across the world have been compelled to impose strict lockdowns and advise social distancing practises.

Despite the negativities surrounding the Covid-19 pandemic, healthcare manufacturers are likely to witness new opportunities for growth. There are constant approvals for newer drugs and the increasing number of regulatory approvals even during the Covid-19 pandemic will bode well for the growth of the US biosimilar market in the coming years.

Increasing Number of Product Launches will have a Massive Impact on Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches by major companies across the world has made the highest impact on market growth.

Accounting to the increasing R&D activities associated with biosimilars, there have been newer discoveries and branches for newer applications. In July 2019, Allergan and Amgen Inc. announced the launch of a new product biosimilar for use and commercialization in the US market. The company introduced ‘Kanjinti,’ a biosimilar of trastuzumab for use in the United States. Increasing number of product launches by such major companies will bode well for the growth of the overall US biosimilars market in the foreseeable future.

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List of Leading Companies profiled in the US Biosimilars Market Research Report are:

• Novartis AG (Basel, Switzerland)
• Mylan N.V. (Pennsylvania, U.S)
• Coherus BioSciences, Inc. (California, U.S.)
• AbbVie Inc. (Illinois, United States)
• Pfizer Inc. (New York, U.S.)
• F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
• Eli Lilly and Company (Indiana, United States)
• Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)
• Celltrion Inc. (Incheon, South Kore)
• Amgen Inc. (California, U.S)
• Other prominent players

Industry Developments:

September 2019– Pfizer announced the launch of its Bevacizumab biosimilar in the U.S. after having agreed to the terms of settlement with Genentech.

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Prevalence of Key Disease Associated with the Scope - U.S., 2019
  • New Product Launch
  • Pipeline Analysis
  • Regulatory Scenario
  • Reimbursement Scenario
  • Patent Snapshot of Biologics
  • Key Industry Developments - Mergers, Acquisitions, and Partnerships
• US Biosimilars Market Analysis, Insights and Forecast, 2016-2027
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Drug Class
    • Filgrastim & Pegfilgrastim
    • Monoclonal Antibodies
    • Others
  • Market Analysis, Insights and Forecast – By Disease Indication
    • Cancer
    • Autoimmune Diseases
      • Arthritis
      • Psoriasis
      • Neutropenia
      • Others
    • Others
  • Market Analysis, Insights and Forecast – By Distribution Channel
    • Hospital Pharmacy
    • Retail Pharmacy
    • Online Pharmacy

TOC Continued….!

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