Dublin, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The "US Biosimilar Market: Insights & Forecast (2024-2028)" report has been added to ResearchAndMarkets.com's offering.
The US biosimilar market is forecasted to reach US$71.04 billion in 2028, experiencing growth at a CAGR of 40.16% during the period spanning from 2024 to 2028
Growth in the US biosimilar market is supported by factors such as rising prevalence of cancer, growing geriatric population and favorable environment. However, the market growth is expected to be restrained by complexities in manufacturing, excess competition and complexities in pricing.
The US biosimilar market by drug class can be segmented as follows: monoclonal antibodies, filgrastim & pegfilgrastim and others. In 2023, the dominant share of the US biosimilar market was being held by monoclonal antibodies, followed by filgrastim & pegfilgrastim. As of 2023, there have been 40 biosimilars approvals since the first approval in 2015 and more than 30 launches in the U.S. biosimilar market.
The US biosimilar market by product can be categorized as follows: Prolia (Denosumab), Xolair (Omalizumab), Rituxan (Rituximab), Humira (Adalimumab) and Stelara (Ustekinumab). The US Biosimilar market landscape by class can be categorized as follows: Supportive Care, Oncology, Long Acting Insulin, Rapid Acting Insulin, Ophthalmology and TNF blockers. Factors such as patent expiry Of biologics and research on new indications has been supporting the US biosimilar market.
The COVID-19 pandemic has introduced new challenges for the pharmaceutical industry, including makers of biosimilars. The pandemic threatened to derailed product pipelines. During the height of the outbreak, resources were diverted away from the research and development of new biosimilars and towards the fight against COVID-19.
Scope of the report
- The report provides a comprehensive analysis of the US biosimilar market with impact of COVID-19.
- The major regional markets (China, Europe, North America and Rest of the world) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players
- Pfizer Inc
- Novartis AG
- Amgen Inc
- Samsung Biologics Co., Ltd
- Celltrion, Inc
- Viatris Inc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 72 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $18.41 Billion |
| Forecasted Market Value (USD) by 2028 | $71.04 Billion |
| Compound Annual Growth Rate | 40.1% |
| Regions Covered | United States |
Key Topics Covered:
1. Market Overview
1.1 Biosimilar
1.1.1 Biosimilar- Introduction
1.1.2 Need for Biosimilars
1.2 Difference between Biologic, Biosimilar and Generic Drugs
1.3 FDA-Approved Biosimilar Products
1.4 Applications of Biosimilar
1.5 Advantages of Biosimilar
1.6 Disadvantages of Biosimilar
1.7 Biosimilar Development
2. Impact of COVID-19
2.1 Impact of COVID-19 on the US Biosimilar Market
2.2 Delayed Approvals
2.3 Inaccessibility Of Healthcare Providers (HCPs)
2.4 Postponement of Inspection
2.5 Decrease in Prices
2.6 Post-COVID Scenario
3. The US Market Analysis
3.1 The US Biosimilar Market Forecast by Value
3.2 The US Biosimilar Market by Drug Class
3.3 The US Biosimilar Approvals
3.4 The US Biosimilar Launches
3.5 The US Biosimilar in Pipeline
3.6 The US Biosimilar Market by Product
3.6.1 The US Prolia (Denosumab) Biosimilar Market Forecast by Value
3.6.2 The US Xolair (Omalizumab) Biosimilar Market Forecast by Value
3.6.3 The US Rituxan (Rituximab) Biosimilar Market Forecast by Value
3.6.4 The US Humira (Adalimumab) Biosimilar Market Forecast by Value
3.6.5 The US Stelara (Ustekinumab) Biosimilar Market Forecast by Value
3.7 The US Biosimilar Market Landscape
3.7.1 The US Supportive Care Biosimilar Market Landscape
3.7.2 The US Oncology Biosimilar Market Landscape
3.7.3 The US Long Acting Insulin Biosimilar Market Landscape
3.7.4 The US Rapid Acting Insulin Biosimilar Market Landscape
3.7.5 The US Ophthalmology Biosimilar Market Landscape
3.7.6 The US TNF blockers Biosimilar Market Landscape
3.8 The US Biosimilar Pipeline Landscape
3.8.1 The US Supportive Care Biosimilar Pipeline Landscape
3.8.2 The US Oncology Biosimilar Pipeline Landscape
3.8.3 The US Insulin Biosimilar Pipeline Landscape
3.8.4 The US Ophthalmology Biosimilar Pipeline Landscape
3.8.5 The US TNF blockers Biosimilar Pipeline Landscape
3.8.6 The US Immunosuppressant Biosimilar Pipeline Landscape
3.8.7 The US Bone Health Biosimilar Pipeline Landscape
3.8.8 The US Growth Hormone Biosimilar Pipeline Landscape
3.8.9 The US Infertility Biosimilar Pipeline Landscape
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Rising Prevalence of Cancer
4.1.2 Increasing Health Expenditure
4.1.3 Growing Geriatric Population
4.1.4 Payors Favoring Biosimilars
4.1.5 Cost Effective
4.1.6 Favorable Environment
4.2 Key Trends & Developments
4.2.1 Patent Expiry of Biologics
4.2.2 Research on New Indications
4.3 Challenges
4.3.1 Complexities in Manufacturing
4.3.2 Excess Competition
4.3.3 Complexities in Pricing
5. Competitive Landscape
5.1 Global Market
5.1.1 Forecasted Market Share - Key Players
6. Company Profiles
- Celltrion, Inc.
- Samsung Biologics Co., Ltd.
- Amgen Inc.
- Pfizer Inc.
- Novartis AG
- Viatris Inc.
For more information about this report visit https://www.researchandmarkets.com/r/1422v1
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