According to FutureWise analysis, the market for biosimilars and follow-on biologics in 2023 is US$26.03 billion, and is expected to reach US$83.69 billion by 2031 at a CAGR of 15.70%.

Biosimilars are biological products designed to be highly similar to an already approved (licensed) drug, known as the reference product, as determined by regulatory authorities such as the Food and Drug Administration (FDA) in the United States or the European Medicines Agency (EMA) in Europe. These drugs are developed to ensure that there are no clinically significant differences in quality, safety, or efficacy when compared to their reference counterparts, allowing healthcare providers and patients to trust their use in treatment. Often referred to as follow-on biologics, biosimilars are primarily derived from biological sources, including complex organisms such as bacteria and yeast. The composition of biosimilars can vary widely, encompassing smaller molecules, exemplified by products like human insulin and erythropoietin, as well as more complex molecules, notably monoclonal antibodies that play a crucial role in treating conditions such as cancer and autoimmune diseases. The increasing popularity of biosimilars is largely attributed to the expiration of patent protections for several high-cost branded biologics. This development provides opportunities for greater market competition and potentially lower prices for patients and healthcare systems. In Europe, biosimilars can be marketed by independent applicants once the patent and market exclusivity period for the reference product has lapsed, which has prompted a more robust biosimilars market. A notable example in the biosimilars landscape is Pfizer's strategic acquisition of Hospira, which enabled it to enhance its portfolio with a diverse range of biosimilar products. This move underscores the significant interest major pharmaceutical companies have in biosimilars as they seek to capitalize on the growing demand for affordable treatment options. Looking ahead, several key topics are anticipated to gain momentum among large pharmaceutical manufacturers, including the harmonization of regulations governing biosimilars, standardization of naming and labeling practices to prevent confusion with reference products, development of innovative licensure norms, and strategies for efficient market access. These developments are crucial for ensuring that biosimilars can be seamlessly integrated into clinical practice, ultimately benefiting both patients and healthcare providers.

FutureWise Market Research has instantiated a report that provides an intricate analysis of Biosimilars And Follow-On Biologics Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.

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Biosimilars And Follow-On Biologics Market Segmentation:

By Product Class

• Epoetins
• Filgrastims
• Insulins
• Growth Hormones
• Alfa Interferons
• Monoclonal Antibodies
• Beta Interferons
• Follitropins
• Low-molecular-weight Heparins (LMWH)

By Application

• Rheumatoid Arthritis
• Anemia
• Cancer
• Diabetes
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Competitive Landscape in Biosimilars and Follow-On Biologics Market:

• Pfizer Inc. (AC. Hospira)
• Sandoz International GmbH.
• Teva Pharmaceutical Industries Ltd.
• Dr. Reddy's Laboratories
• Biocon Limited
• Mylan, Inc.
• Amgen
• Celltrion Inc.
• Roche Diagnostics
• Merck KGaA

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**Objectives of this Study: **

1. To provide a comprehensive analysis of the Biosimilars and Follow-On Biologics Market by Product Class, by Application, and by Region.
2. To offer detailed insights into factors such as drivers, restraints, trends, and opportunities, as well as segmental and regional influences on market growth.
3. To evaluate current market trends and forecast micro-markets, presenting overall market projections in the form of data sets and PowerPoint presentations.
4. To predict the market size in key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

                                                                                                                
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