Categories: Healthcare

Biosimilars Market Growth Report & Global Outlook 2028

The Oral Biologics And Biosimilars Global Market Report 2023 by The Business Research Company, provides oral biologics and biosimilars 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 And Biosimilars Global Market Report 2023, the global oral biologics and biosimilars market size will grow from $5.37 billion in 2022 to $6.47 billion in 2023 at a compound annual growth rate (CAGR) of 20.3%. 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 oral biologics and biosimilars is expected to grow from $13.68 billion in 2027 at a CAGR of 20.6%.

The rising prevalence of chronic diseases such as arthritis, asthma, and cancer is expected to propel the growth of the oral biologics and biosimilars 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 stimulate the immune system’s attack on cancer cells, aiding the body’s natural defenses in getting rid of the disease-causing cells.

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The oral biologics and biosimilars market is segmented:

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

2) By Disease: Asthma, Crohn’s Disease, Carcinoma, Arthritis, Diabetes, Multiple Myeloma, Enterocolitis, Multiple Sclerosis, Sarcoma, Psoriasis and Other Diseases

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

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

The creation of new insulin biosimilars is a key trend gaining popularity in the oral biologics and biosimilars market. The key players operating in the oral biologics and biosimilars market are investing in creating a biosimilars copy of insulin to capture the market share. For instance,In November 2021, Biocon, an India-based biopharmaceutical company launched inter-changeable biosimilars insulin. These products help to control high blood sugar in pediatric patients with type 1 diabetes and adults with type 2 diabetes and are available in a vial and prefilled pen presentations. These are interchangeable for the reference brand, Lantus (insulin glargine), allowing for substitution at the pharmacy counter. Thus, companies in the oral biologics and biosimilars market are investing in the trend of developing biosimilars of insulin to gain profit.

The oral biologics and biosimilars market report table of contents includes: