U.S. Biosimilar Market Size By Drug Class, By Disease Indication, By Distribution Channel And Forecast

U.S. Biosimilar Market Size And Forecast

U.S.Biosimilar Market size was valued at USD 6.70 Billion in 2022 and is projected to reach USD 15.13 Billion by 2030, growing at a CAGR of 12.35% from 2023 to 2030.

The rising population and cost-effective alternatives are some of the factors expected to drive the market growth during the forecast period. The Global U.S. Biosimilar Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

U.S. Biosimilar Market Definition

A biosimilar is a biological product similar to an already approved biological drug. These biosimilars have been approved by the Food and Drug Administration (FDA) and are being compared to FDA-approved biologics known as reference products. Biosimilars and reference products are large and generally have complex molecules. They are made from living organisms and are carefully monitored to ensure consistent quality. Biosimilars are created when the original product’s patent has expired. Biosimilars are not considered generic biopharmaceuticals.

The natural variability and more complex production of biopharmaceuticals make it impossible to reproduce molecular microheterogeneity accurately. Many studies demonstrated that biosimilars do not show clinical differences in safety, purity, and efficacy compared to reference products or drugs. Biosimilars are copies of biological agents used to treat many diseases and health problems. Each biosimilar is manufactured with the same precision as the reference product using amino acids and starting materials. All biosimilar products are prescription drugs/pharmaceuticals prescribed by a healthcare professional.

U.S. Biosimilar Market Overview

The increased product development, higher return on investment, and improved cost efficiency are driving the growth of the US biosimilars market. Biosimilar products are cheaper than the original biological product. From a regulatory standpoint, this development does not replicate a natural biological product’s entire clinical development process, providing customers with a lower-cost product. Moreover, growing awareness, a growing number of manufacturers, and increasing commercialization offer growth opportunities to the market.

The new product development and higher revenue drive market growth. For instance, Amgen Inc., one of the fastest growing pharmaceutical companies, has developed its product pipeline into a leader in the US biosimilars market. Yet, the time-consuming clinical process may hamper the market growth. In the case of product refining, the process can be time-consuming due to product complexity, hindering the market growth.

U.S. Biosimilar Market Segmentation Analysis

The U.S. Biosimilar Market is Segmented on the basis of Drug Class, Disease Indication, and Distribution Channel.

U.S. Biosimilar Market, By Drug Class

• Fligrastim & Pegfilgrastim
• Monoclonal Antibodies
• Others

Based on Drug Class, the market is segmented into Fligrastim & Pegfilgrastim, Monoclonal Antibodies, and Others. the filgrastim & pegfilgrastim segment holds a large number of shares in the market because of the green signal by the USFDA for their approval and launch and the involvement of critical players such as Mylan N.V. and Pfizer Inc in the manufacturing.

U.S. Biosimilar Market, By Disease Indication

• Cancer
• Autoimmune Diseases
• Others

Based on Disease Indication, the market is segmented into Cancer, Autoimmune Diseases, and Others. the autoimmune diseases segment holds a large number of shares in the market because of the increasing drug approvals and introduction of newer biosimilars for neutropenia and arthritis diseases, and increasing R&D activities are the factors driving the market growth of the segment.

U.S. Biosimilar Market, By Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Based on Distribution Channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. the hospital pharmacy segment holds a large number of shares in the market because the improving accessibility of life-saving drugs and upgraded reimbursement policies for these drugs in the hospital are the factor driving the market growth of the segment.

Key Players

The “U.S. Biosimilar Market” study report will provide valuable insight with an emphasis on the U.S. Market. The major players in the market are Novartis Ag, Mylan N.V., Coherus Biosciences Inc, AbbVie Inc, Pfizer Inc, Sandoz, Teva Pharmaceutical, Eli Lilly & Company, Celltrion Inc and Amgen Inc. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

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