Brooklyn, New York, Nov. 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the global non-oncology biologics and biosimilars market is expected to grow at a CAGR of 22.6% from 2023 to 2028.
The escalating incidence of chronic diseases, including autoimmune disorders, diabetes, and diverse non-oncology conditions, has spurred an increasing need for efficacious biologic treatments. This heightened demand is a key driver propelling the expansion of the non-oncology biologics and biosimilars market.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Non-oncology Biologics and Biosimilars Market - Forecast to 2028’’
Key Market Trends
- Increasing Development and Launch of Biosimilars: One prominent trend in the non-oncology biologics and biosimilars market is the increasing development and launch of biosimilar products. Biosimilars are biologic products that are highly similar to an already approved reference biologic. They offer a cost-effective alternative to the original biologic drugs. As patents for some major biologics expire, it has led to a surge in the development and approval of biosimilars, providing patients with more affordable treatment options.
- Expanding Therapeutic Areas Beyond Oncology: The scope of non-oncology biologics and biosimilars has been expanding to include a broader range of therapeutic areas beyond oncology. While oncology has been a significant focus in the biologics market, there is a growing trend toward the development of biologics and biosimilars for various other therapeutic indications. This expansion includes autoimmune diseases, inflammatory conditions, metabolic disorders, and more. The diversification of therapeutic areas contributes to a more comprehensive portfolio of biologic treatments.
Key Market Insights
- As per the product type outlook, the biologics segment is expected to be the largest segment during the forecast period
- As per the application type outlook, the cardiology segment is projected to be the largest segment during the forecast period
- Asia Pacific region is analyzed to be the fastest-growing region in the market
- North America is analyzed to account for largest share in the global market during the forecast period of 2023-2028
- Key players operating in the global non-oncology biologics and biosimilars market are AbbVie Inc., Sanofi, Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche, Johnson & Johnson, Novartis AG, Novo Nordisk A/S, Pfizer Inc., Takeda Pharmaceuticals, BioMarin Pharmaceuticals, GSK, AstraZeneca, and Biogen, among others
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By Drug Category (Revenue, USD Billion, 2023-2028)
- Monoclonal antibody
- Enzyme replacement therapy
- Toxins
- Fusion proteins
- Vaccines
- Insulin
- Hormones
- Gene therapy
- Cell therapy
- Others
By Product Type (Revenue, USD Billion, 2023-2028)
- Biologics
- Biosimilars
By Application Type (Revenue, USD Billion, 2023-2028)
- Cardiology
- Dermatology
- Hematology
- Endocrinology
- Neurology
- Immunology
- Respiratory
- Rheumatology
- Ophthalmology
- Others
By Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central and South America
- Brazil
- Argentina
- Chile
- Rest of CSA
Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
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