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COVID-19 UPDATE: BIOSIMILAR MARKET to Show Tremendous Growth by 2027 | Leading Players-Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Mylan N.V., Samsung BioLogics., Amgen Inc

Global Biosimilar Market By Product Type (MRI, CT, PET, EEG, EMG, MEG, TCD, ICP, Electrodes, Sensors, Gels, Cables), Application (Diagnostics, Therapeutics), Procedure (Invasive, Non-Invasive), Disease (TBI, Stroke, Dementia, Epilepsy), End-Users (Hospitals, Clinics, Diagnostic Centers), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends & Forecast to 2026;

Global biosimilar market is set to witness a healthy CAGR of 27.45% in the forecasted period of 2019-2026. This rise in the market can be attributed to the rising occurrence of treatment of range of chronic disease and their prevention.

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Key Market Competitors:

Few of the major market competitors currently working in the global biosimilar market are Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Mylan N.V., Samsung BioLogics., Amgen Inc, Biocon, Celltrion Inc., Teva Pharmaceutical Industries Ltd., Pfizer Inc, EMD Serono, Inc., Genentech, Inc , WOCKHARDT., Stada Arzneimittel, and others.

Competitive Analysis:

Global biosimilar market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares biosimilar market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Market Definition: Global Biosimilar Market

Biosimilar are used to record electrical action produced by the human brain. They exhibit high molecular complexity and are quite sensitive to changes in manufacturing processes. EEG device comprises the usage of electrodes to track electrical signals in the person’s brain, and to check for abnormalities in acquired brain signals. They are less expensive as compared to the originators biologic agents as they need not to undergo intensive clinical development process.

Market Drivers

  • Growing incidences of neurological disorders among population is driving the market growth
  • Rising demand for EEG devices in hospitals and diagnostics centers is driving market
  • Growing incidence of traumatic brain injuries will also act as a major market driver
  • Affordable prices of the biosimilar drug is another important factor driving the market

Market Restraints

  • High price of complex brain monitoring devices will restrain the growth of this market
  • Unfavorable reimbursement policies will restrain the market growth
  • High manufacturing cost restraints the market growth

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Segmentation: Global Biosimilar Market

By Product Type

  • MRI scanners
  • CT scanners
  • PET scanners
  • Biosimilar (EEG)
  • Electromyography Devices (EMG)
  • MEG Devices
  • TCD Devices
  • Intracranial Pressure Monitors (ICP)
  • Electrodes
  • Sensors
  • Gels
  • Cables

By Procedure

  • Invasive,
  • Non-Invasive

By Disease

  • TBI
  • Stroke
  • Dementia
  • Epilepsy

By Indication

  • Atrial Septal Defect (ASD)
  • Ventricular Septal Defect (VSD)
  • Patent Foramen Ovale (PFO)
  • Aortic Valve Stenosis
  • Others

By End User

  • Hospitals
  • Clinics
  • Diagnostic Centers

Key Developments in the Market:

  • In May 2019, STADA Arzneimittel AG came into partnership with Xbrane Biopharma AB for potential development and strategy formulation for their biosimilar, forming commercialization collaborations around Xbrane’s preclinical biosimilar Xcimzane and Xdivane and other biosimilar. This partnership will help them to expand their portfolio and strengthen their position in the market.
  • In October 2018, Mundipharma announced its acquisition with Cinfa Biotech, thereby strengthening its position in biosimilar market. They are planning to develop biosimilar which will continue to afford healthcare systems. This acquisition will benefit Mundipharma in strengthening its product portfolio, maximizing profits and expand globally.

Reasons to Purchase this Report

  • Current and future of global biosimilar market outlook in the developed and emerging markets
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

  • All segmentation provided above in this report is represented at country level
  • All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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