Chemicals

Biologics and Biosimilars Market Size in 2023 to 2030

The Oral Biologics & Biosimilar Drugs Global Market Report 2023 by The Business Research Company, provides oral biologics & biosimilar drugs market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Oral Biologics & Biosimilar Drugs Global Market Report 2023, the market grew from $4.91 billion in 2022 to $5.94 billion in 2023 at a compound annual growth rate (CAGR) of 21.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global oral biologics & biosimilar drugs is expected to grow from $11.77 billion in 2027 at a CAGR of 18.6%.

The rising prevalence of chronic diseases such as arthritis, asthma, and cancer is expected to be a major driver of the oral biologics and biosimilar market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases, and biologics are increasingly used to treat these chronic diseases. Biologics activate the immune system response against cancer cells thus helping the immune system to eliminate the cancer cells from the body.

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The oral biologics & biosimilar drugs market is segmented:

1) By Therapy: Lymphocyte Modulators, Interleukin Inhibitors, Tumor Necrosis Factor-Alpha Inhibitors

2) By Disease: Asthma, Crohn’S Disease, Carcinoma, Arthritis, Diabetes, Multiple Myeloma, Enterocolitis, Multiple Sclerosis, Sarcoma, Psoriasis, and Others

3) By Molecule Type: Vaccines, Proteins & Peptides, Monoclonal Antibodies, and Other Molecule Types

4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

The latest trend in the oral biologics and biosimilar market is the creation of new insulin biosimilars. The key players operating in the oral biologics and biosimilar market are investing in creating a biosimilar copy of insulin. This is also promoting competition among various biosimilar manufacturers. For instance, in August 2020, Biocon Biologics India Ltd., an India-based fully integrated global biosimilars organization, in partnership with Mylan, a US-based biosimilar company, has launched Semglee, insulin glargine injection in the U.S.

The oral biologics & biosimilar drugs market report table of contents includes: