Cystic Acne Market Foreseen to Draw a Promising Growth by 2023

 

Market Highlights

Cystic acne is majorly treated with topical medications, drainage & extraction procedure, and laser therapy, and microdermabrasion. Increasing awareness and prevalence of population affected by acne are boosting the demand for a laser treatment that has driven the growth of laser devices and medications for the cystic Acne. The cystic acne market has been a growing market and it has been expected that the market is likely to touch high growth figures.

According to The National Center for Biotechnology Information, in 2015, around 9.4% of the global population is affected by acne and making it the 8th most prevalent disease worldwide. Acne often causes significant physical and psychological problems such as permanent scarring, poor self-image, depression, and anxiety.

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The market is expected to flourish in developing regions of Asia Pacific owing to the rising patient population with cystic acne. Increasing prevalence of cystic acne, rising demand for better treatment, increasing investment in the biotechnology and pharmaceutical industries for research and development are driving the growth of the market. Moreover, increasing government support for research & development, changing lifestyle, and rapidly developing technology are expected to fuel the market growth during the forecast period. However, lack of effective treatment in the market may hinder the market growth during the forecast period.

The global cystic acne market is expected to grow at a CAGR of 10% during the forecast period 2017-2023.

Regional Analysis

The Americas dominate the global cystic acne market owing to the presence of a huge patient population suffering from a skin condition, high health care spending, and increasing government support for research & development. According to American Academy of Dermatology, acne is affecting around 50 million Americans annually and around 20 million American have acne badly enough to cause scars.

Europe holds the second largest share of the global cystic acne market as a result of increasing focus of various government agencies on the treatment of diseases. Moreover, the growing public awareness about cystic acne is likely to boost the European market.

The Asia Pacific is the fastest growing market across the globe. Moreover, rapidly developing the economy, increasing healthcare expenditure, and the government’s initiatives for research & development are projected to drive the market in China and India.

The Middle East and Africa hold the least share of the global market due to limited availability of medical facilities.

Segmentation

The global cystic acne market is segmented on the basis of causes, long-term effects, treatment type and end user. On the basis of the causes, it is segmented into hormonal imbalances, occlusive skin products, drugs/chemical side effects, and others. On the basis of the long-term effects, it is segmented into ice pick scars, larger pits on the skin, shallow depressions, hypertrophic scarring, and others. On the basis of the treatment type, it is segmented into topical medications, drainage & extraction procedure, laser therapy, microdermabrasion, and others. On the basis of the end user, it is segmented into hospitals, clinics, research laboratories, and others.

Key Players

Some of the key players in this market are GlaxoSmithKline plc (U.K), Pfizer Inc. (U.S.), Abbott Laboratories (U.S.), Hexal AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Alma Lasers Inc. (Israel), Bristol-Myers Squibb Company (U.S.), GE Healthcare (U.K), National Biological Corp. (U.S.), Herbert Waldmann GmbH & Co. KG (Germany), Sylvan Company (U.S.) and DUSA Pharmaceuticals Inc. (U.S.).

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Pleurisy Market – A market with high CAGR and return on investment by 2023

 Market Scenario:

There are wide market for pleurisy globally owing to increasing prevalence of chronic disease such as lung cancer, heart surgery, pancreatitis, chest trauma, autoimmune disorder, and asbestosis globally. These disease are consider as the leading causes for pleurisy. According to World Health Organization (WHO), in 2016, more than 90% of Chronic Obstructive Pulmonary Disease (COPD) deaths occur in the low­ and middle-income countries, also the Global Burden of Disease Study reports a prevalence of 251 million cases of COPD globally in 2016. Report suggest that the primary cause of COPD is exposure to tobacco smoke. These rising number in population suffering with COPD generating the huge demand for better treatment.

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According to a report published by British Society for Rheumatology, in 2016, Rheumatoid arthritis affects roughly 700,000 people in the U.K, and at least 115,000 people in the U.K live with Crohn’s disease

Increasing prevalence of chronic disease, rising demand for better treatment, increasing investment in research and development, and availability of funds drive the growth of the market. Moreover, increasing government support, changing lifestyle, and rapidly developing technology is expected to fuel the market growth during the forecast period. However, high cost of the treatment may slow the market growth during the period 2017-2023.

The global pleurisy market is expected to grow at a CAGR of 6.2% during the forecast period 2017-2023.

Regional Analysis

The Americas dominate the global pleurisy market owing to the presence of huge patient population with chronic diseases, and increasing government support for research & development. Furthermore, market players of this region continue to be involved in providing quality products which give an edge to this region in global leader.

Europe holds the second largest share of the global pleurisy market as result of increasing focus of various government agencies on the treatment of chronic diseases. Moreover, the growing public awareness about healthcare is likely to boost the European market.

Asia Pacific is the fastest growing pleurisy market across the globe. Japan holds a major share of the regional market due to availability of advanced technology and huge healthcare spending. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development is projected to drive the market in China and India over the forecast period.

The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.

Segmentation

The global pleurisy market is segmented on the basis of diagnosis devices, treatment, and by end user. On the basis of the diagnosis devices, it is segmented into thoracentesis, video-assisted thoracic surgery, imaging devices, blood test, and others. Furthermore, imaging devices are segmented into the computed tomography, magnetic resonance imaging, ultrasound, and others. On the basis of the treatment, it is segmented into antibiotics, antifungals, blood thinners, nonsteroidal anti-inflammatory drugs, and others. On the basis of end user, it is segmented into hospital, clinics, diagnostics laboratories, and others.

Key Players

Some of the key players in this market are: Scanlan International, Inc. (U.S.), Sontec Instruments (U.S.), Pilling Surgical Inc. (U.S.), Integra LifeSciences Corporation (U.S.), Olympus Corporation (Japan), Delacroix-Chevalier (France), Myra & Co. (India), Wexler Surgical (Texas) and others.

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Polyp Biopsy Market – Product Development is the best strategy for market position; Forecast till 2025

 Market Scenario

Polyp Biopsy Market is expected to grow with a healthy CAGR of 6.2% during the forecast period and reach USD 1,624.1 Million by 2025. Polyps are caused due to abnormal cell growth and are mostly benign. However, if they are left untreated, they could turn cancerous. Conclusively, there is a need to diagnose polyp to avoid cancer. For doing the same, biopsy is a major diagnostic procedure. In this procedure, a sample of tissue is removed from the polyp and is analyzed under the microscope.           

Rising incidences of polyps, growing geriatric populations, and increasing prevalence of colorectal cancer are projected to drive the market growth. Moreover, technological advancements related to biopsy is expected to fuel market growth. On the other hand, uncertain regulatory issues and biopsy-related risk of infections are expected to restrict the market growth during the forecast period.

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Global Polyp biopsy Market – Overview

Most of the medical conditions, including all cases of cancer must be diagnosed by taking a sample of tissue from the individual and sending it to a pathologist for diagnosis. This process is called biopsy. Polyps are normally found in organs with many blood vessels, organs include the uterus, colon, and nose. The global polyp biopsy market is expected to grow at a steady growth during the forecast period 2017-2022. The major factors influencing the growth of the market include rising consumption of tobacco and alcohol within the individuals, increasing prevalence of cancer across the globe and various others. The market is forecasted to demonstrate a single digit growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period 2017 – 2022.

Global Polyp Biopsy Market – Competitive Analysis

Characterized by the presence of several well-established and small players, the global market of polyp biopsy appears to be highly competitive and fragmented. With well-established market in the North America region major companies have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.

The market for biopsy has be highly competitive across the globe. Due to highly competitive are introducing new technology in for the development of the products. Caris Life Sciences one of the leading biotechnology company involved in manufacturing precision medicine, in December 2015 showcased the results from its first study using its revolutionary technology called Adaptive Dynamic Artificial Poly-ligand Targeting (ADAPT). The study presented, shows contains of blood plasma circulating complexes which contain information that could help as a diagnostic adjunct to mammography in women with dense breast tissue. In late 2015, outcomes from show that ADAPT is equally effective in difficult cases for which imaging technologies are inadequate for illustrating breast tissue as cancerous or non-cancerous. The ADAPT platform was developed on a huge library of approximately 1015 oligonucleotides engineered to adopt a highly complex set of unique three-dimensional binding sites. By introducing this technology will enhance the optimization of the aptamer library and testing on supplementary samples.

Global Polyp Biopsy Market – Regional Analysis

The global market is segmented into the various regions including Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas accounts for the largest market share of about more than ~40%. This large share can be attributed to favourable governmental conditions for research and development. CRC is the 3rd most common cancer and the third leading cause of cancer death in the United States. There has been increasing prevalence of adenomatous polyps of the colon and rectum both in the United States and various European countries.

Europe is the second largest market of polyp biopsy. Europe saw a high prevalent cases in the incidence of colorectal cancer (CRC) along with the over-all aging population as a whole. It has been found that there were more than 375,000 cases diagnosed and more than 203,000 deaths from this disease every year, making Europe’s the second most common cancer diagnosed patients and second most common cause of death due to cancer following lung cancer.

Asia Pacific due to raising of funds for research and development activities, and growing government initiatives for the awareness and preventive cancer. Asia Pacific is the fastest growing region in the global market. Particularly, India and China are anticipated to be a growing and the fastest growing market due to improvement in healthcare domain and increasing prevalence of cancer related diseases. Many major players seeking opportunity and expand their presence in this region influencing the growth of the market.   

The Middle East & Africa holds the least share in the polyp biopsy market due to lack of awareness, less emphasis on research and development activities, and poor medical facilities.

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Biomarkers Market to Perceive Momentous Accruals with a hefty CAGR By 2027

 Overview:

Global Biomarkers Market is expected to register a CAGR of 10.28% during the assessment period of 2020 to 2027, to reach USD 4,582.8 Million by 2027.

With an increasing incidence rate of chronic and life-threatening diseases, the demand for precise diagnostic procedures is increasing. In addition to that, there is an increase in the number of manufacturers, distributors, and service providers of biomarkers across the globe, creating enormous growth opportunities in the market.

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Segment Analysis

Global Biomarkers Market is Segmented Based on Product, Type, Application, and Disease Indication. The biomarkers market, based on product, has been segmented into consumables, services, and software.

The biomarkers market, based on type, has been segmented into safety biomarkers, efficacy biomarkers, and validation biomarkers. The efficacy biomarkers are further segmented into predictive biomarkers, surrogate biomarkers, pharmacodynamics biomarkers, and prognostic biomarkers. The global biomarkers market, by application, has been segmented into diagnostics, drug discovery and development, personalized medicine, disease risk assessment, and others.

The global biomarkers market, by disease indication, has been segmented into cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others. The segment growth can be attributed to the ability of biomarkers to cover clinical needs from cancer to infectious disease applications.

Regional Analysis

The global biomarkers market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Middle East & Africa.

The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas led the market and accounted for the largest share in 2019. The presence of prominent biopharmaceutical companies such as Merck Millipore, Bio-Rad Laboratories, Inc., Illumina, Inc., and Agilent Technologies in the US, facilitates early market initiation and prompt supply chain management. Players headquartered in other regions are also actively involved in the expansion of their facilities in the American countries to capture maximum share in the region.

The European biomarkers market has been further segmented into Western Europe and Eastern Europe. The Western Europe biomarkers market has further been classified into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. Europe accounts for the second-largest share in the global biomarkers market. The rising number of conferences, seminars, and symposiums conducted by intergovernmental as well as not-for-profit organizations is increasing the level of awareness among the patients suffering from various types of cancers. For instance, European Cancer Patient Coalition (ECPC), an organization representing more than 447 organization in 46 EU and non-EU countries, in partnership with Cancer Drug Development Forum (CDDF), European Alliance for Personalized Medicine (EAPM), and International Quality Network for Pathology (IQN-Path), launched the first-ever Personalized Medicine Awareness Month in November 2018. In 2018, the Cancer Drug Development Forum (CDDF), in collaboration with ECPC, held a workshop on Biomarkers and Patients’ Access to Personalized Oncology Drugs in Europe. Such events by collaborative efforts are increasing the market size of biomarkers in Europe.

The biomarkers market in Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is expected to register the highest CAGR over the forecast period from 2020 to 2027. This is owing to the growing patient population in this region. World Cancer Research Fund Data, 2018 analyzed that the age-standardized rate for all cancers for men and women together was highest in Australia, at 468.0 people per 100,000 population, which was followed by New Zealand at 438.1.

The Middle East & Africa biomarkers market is segmented into two major regions, namely the Middle East and Africa. The growth of the biomarkers market in the Middle East and Africa was considerably low in recent years. In the Middle East, the adoption rate of biomarkers was mainly in developing countries such as South Africa, the UAE, and Saudi Arabia.

Key Players

MRFR recognizes the following companies as the Key Players in the Global Biomarkers Market— Merck KGaA, Bio-Rad Laboratories, Abbott Laboratories, EKF Diagnostics, Enzo Biochem Inc., Meso Scale Diagnostics, LLC, Signosis, and PerkinElmer Inc. Qiagen N.V., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, PerkinElmer Inc.

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Global Ureteral Stents Market Expected to Grow with a healthy CAGR

 

Market Analysis

Ureteral stents are hollow & thin tubes that are inserted in ureters to treat or prevent obstacles during ‘urine-flow.’ They find applications in urological surgeries for retaining ureter patency & ensuring proper urinary-drainage. Ureteral stents are employed by the right end-users through various endourological procedures. They are mainly inserted with the help of cytoscopes. Multiple factors; like kidney stones, prostate cancers, and pre-operative patients draw the adoption of ureteral stents.

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These stents enable the transport of remaining fragments without causing obstructions. Stents are also used for scratched ureters. Frankly, any kind of ureter surgery normally involves stents for ureter-treatments. Some other propellers of the ureteral stents market include tumors, bladder irregularities, & ureteral scarring/narrowing. With a rise in such cases, the global ureteral stents market is set to grow at a substantial CAGR in the forecast period.

Propellers & Drawbacks

The ureteral stents market is mainly driven by all medical conditions that need these tubes. The world is experiencing a rise in kidney stones, because of certain factors. These factors encompass regular consumption of alcohol, animal proteins, calcium, vitamin supplements, etc. Of the different ‘kidney-stone’ treatments available, ureterorenoscopy & ureteroscopy observe the widest adoption of these stents, thereby driving the industry.

Alongside, kidney transplants propel market demand. All kidney replacement surgeries require ureteral stents inside the human body, till patients adjust to their new kidneys. Infection, dislocation, & obstruction complexities may result from the adoption of urinary stents, negatively impacting the market. Also, patients could experience discomfort or other problems while passing urine. All these factors urge research & development firms to create new products, slowing down the market.

Inactive lifestyles and aging population are important contributors to urinary disorders. Thus, both of them add to the usage of these stents, promoting market sales. Other factors affecting the market comprise unhealthy food, metabolic disorders, obesity, and dehydration. Novel smartphone applications are advantageous for doctors & patients, raising market expansion. Other hindrances that prevent further industry-progress are scarcity of proficient doctors and intricacies across extractions & placements.  

Classification and Regional Overview

The worldwide market is classified into materials, kinds, applications, and regions. Silicon, metal, hydrogel, plastic, polyurethane, etc. form the materials. The kinds encompass closed end, double pigtail, open end, and multiloop. Based on applications, the market consists of lithotripsy, ureterorenscopy, and others. Latin America, North America, Eastern Europe, Asia Pacific, Western Europe, and the Middle East & Africa constitute the geographies.

Emerging markets, such as Europe and North America are predicted to undergo swift expansion. Their increasing participants, research & developments, and urology incidences drive their sales. Asia Pacific would observe decent trends, as a consequence of its expanding medical infrastructure & supportive ‘patient-demographics.’  Asia Pacific is home to even more patients suffering from these diseases. With better fiscal conditions in India, China, and Brazil; majority of the business expansion could be ascribed to the collective demand from these nations. The Middle East specializes in advanced urology services.

Players and New Trends 

Prominent firms investing in the global ureteral stents market are Urovision, Allium Medical Solutions, Urotech, Teleflex, Mednova, and several others. Multiple advancements with regards to the design & growth of ureteral stents have seen the light of day. These innovations are aimed at lowering stent-related ‘side-effects.’  Some of these include infections, irritability, and bladder discomfort.

‘Bard Medical’ is another renowned manufacturer that helps medical experts in ureteroscopic, cystoscopic, & nephroscopic methods. The past years have witnessed design changes in the form of drug-eluting stents, drug-coated stents, and localized stenting. Thus, many of the eminent companies focusing on product innovations and regional expansion are bound to generate higher revenues & recognition.    

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Ovulation Test Market to Witness Widespread Expansion During 2020 to 2025

 

Global Ovulation Test Market - Overview

Ovulation is the biological process that results in the release of eggs from the ovary. The ovulation test detects a rise in luteinizing hormone (LH) in the urine. This rise in the hormone signals the ovary to release the egg. This test is often used by women to help predict when an egg release is likely. This is when pregnancy is most likely to occur. Moreover, these ovulation prediction kits or OPKs are also being used to detect the exact day of ovulation for those women that undergo a treatment for infertility. There is an increase in the demand of ovulation test kits across the globe. Urine test segment accounts for the largest market share due to its extensive application by women for testing pregnancy.

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The global ovulation test market is growing with the steady pace. The global ovulation test market is expected to grow at a CAGR of ~4.5% during the forecast period 2017-2023. According to a recent study report published by the Market Research Future, The global ovulation test market is booming and expected to gain prominence over the forecast period growing rapidly due to rising technology driven ovulation monitors. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).

The market is expected grow with the same trends during the forecast period. The major drivers will be technological advancement for reliable and accurate results from ovulation test kits has spurred the growth the market.  According to the Centers for Disease Control, one in eight women has trouble conceiving or sustaining a pregnancy, due to age, health issues or other factors. For that, companies are introducing advanced kits which will help them to monitor their pregnancy and ovulations. For instance, apps like Glow and Apple's own Reproductive Health kit in iOS make it easier to record, visualize and aggregate large amounts of data related to the reproductive health of the patients.  Moreover, pregnancy management and women and child health gaining importance throughout the world favor the growth of this market. Increase in first pregnancy, complications during pregnancy and demand of reliable technology for pregnancy test kits.

Global Ovulation Test Market - Competitive Analysis

The market for ovulation test is characterised by the presence of several well-established and small players, the global market of ovulation test appears to be getting competitive in this region due to increasing first time pregnancy age and gynaecological disorders. Global players are increasingly expanding their footprint in the emerging nations, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to increase with time during the forecast period. Well established players are entering into new product launches in order to gain competitive edge in this market and to maintain their market position.    

Companies like in April 2016, Church & Dwight Co., Inc. has launched a First Response Pregnancy PRO Digital Pregnancy Test + App Access. It is the first and only Bluetooth enabled pregnancy test stick which will be available nationwide. This will help the company add-on a product to their portfolio and help to increase the customer base.

Moreover, Prestige Brands Holdings Inc., in December 2016, has announced to acquire C.B Fleet Company which manufactures products for feminine care to reach in global market.   Furthermore, Swiss Precision Diagnostics a market leader across the globe with wide range of women health brands out of which Accu clear provides a range of products for pregnancy and ovulation test. It has been granted three patents by the U.S. in advanced clear blue ovulation test helping it to maintain its leading position in the market.

This particular market is focussing on product launches and acquisitions as a key strategy, thereby presenting a potential opportunities for the growth of the market.

Swiss Precision Diagnostics GmbH (Switzerland), Church & Dwight Co. Inc. (U.S.), Prestige Brands Holdings Inc. (U.S.), HiLin Life Products Inc. (U.S.) and Fairhaven Health LLC (U.S.). Other players in this market are: Fertility Focus Limited (U.K.), Geratherm Medical AG (Germany), Accuquik (California), NecLife (India) and Piramal Healthcare (India) are some of the prominent players at the forefront of competition in the Global Ovulation Test Market and are profiled in MRFR Analysis. 

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Biosimilars Market to Perceive Momentous Accruals with a hefty CAGR By 2025

  Biosimilars Market Scenario

Biosimilars Market Size is expected to register a CAGR of 7.5% during the forecast period of 2019 to 2025, with a market value of USD 13,460 Million in 2018.

A biosimilar is a biologic medical product highly similar to another already approved biological medicine. Biosimilars are approved according to the same standards of pharmaceutical quality, safety, and efficacy that apply to all biological medicines. The global biosimilars market is driven by factors such as rising demand for biosimilars due to their cost-effectiveness and growing prevalence of chronic diseases. Additionally, rising pressure to reduce healthcare expenditure coupled with patent expiry of various blockbuster drugs and the increasing number of biosimilar drug approvals by the FDA is anticipated to fuel the market growth.

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For instance, according to the biosimilars update report by Amgen in 2019, As of January 2019, the US Food and Drug Administration (FDA) approved 17 biosimilars, out of which 7 products launched in 4 therapeutic areas. On the other hand, patient safety and medical efficacy are projected to hamper the growth of the market during the assessment period. Moreover, major companies in the market are involved in strategic acquisitions, collaborations, and mergers to sustain their position in the market.

For instance, in October 2018, Sandoz, a Novartis division received the US Food and Drug Administration (FDA) approval for its biosimilar, HyrimozTM (adalimumab-adaz) for the treatment of rheumatoid arthritis (RA), psoriatic arthritis (PSA),  juvenile idiopathic arthritis (JIA) in patients four years of age and older, ulcerative colitis (UC), ankylosing spondylitis (AS), adult Crohn's disease (CD), and plaque psoriasis (Ps)

Biosimilars Market Segmentation

Global Biosimilars Market has been segmented based on product, applications, end users, and region.

The market, based on product, has been bifurcated into recombinant non-glycosylated proteins, recombinant glycosylated proteins, and recombinant peptides.

The recombinant non-glycosylated proteins are further divided into human growth hormone (RHGH), granulocyte colony-stimulating factor (filgrastim), insulin, and interferons. Similarly, the recombinant glycosylated proteins segment is further bifurcated into erythropoietin (EPO), monoclonal antibodies (MABS), and follitropin. The recombinant peptides segment has been subdivided into glucagon and calcitonin

The recombinant non-glycosylated proteins segment is expected to hold a major share in the market due to an increase in the number of incidences of chronic diseases, diabetes also growth hormone deficiency-related disorders. Thus, the therapeutic use of recombinant non-glycosylated proteins is broadening as their increased availability and lowered price.  

For example, according to the International Diabetes Federation (IDF), in 2017, approximately 425 million adults aged between 20 to 79 years suffered from diabetes, and this number is expected to rise to 629 million by 2045.

On the basis of applications, the global biosimilars market has been divided into oncology, chronic diseases, autoimmune diseases, blood disorders, growth hormone deficiency, infectious diseases, and others. Blood disorders segment is expected to grow with high growth rate due to increased prevalence of blood disorders and adoption of biosimilars as its low cost in comparison to biologics reduces the treatment cost.

For example, according to the Centers for Disease Control and Prevention in the US, hemophilia A affects 1 in 5,000 male births, and about 400 babies are born with hemophilia A each year.

Based on end user, the market has been divided into hospitals and clinics is expected to hold the largest share in the market as easy availability for treatment with expert faculties.

Based on region, the global biosimilars market has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The biosimilars market in the Americas has further been segmented into North America and Latin America; the North American market has been further divided into the US and Canada.

The European biosimilars market has been sub-divided into Western Europe and Eastern Europe. Western Europe has further been classified as France, the UK, Germany, Italy, Spain, and the rest of Western Europe. The biosimilars market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The biosimilars market in the Middle East & Africa has been divided into the Middle East and Africa.

Biosimilars Market Key Players

The key players in the Global Biosimilars Market are Pfizer (US), Sandoz International (Germany), Teva Pharmaceuticals (Israel), Amgen, Inc. (US), Biocon (India), Dr. Reddy’s Laboratories (India), Celltrion (South Korea), Samsung Biologics (South Korea), Eli Lily & Company (US), Hospira Inc.(US), Actavis, Inc.(US), Cipla Ltd (India), Stada Arzneimittel AG (Germany), and Mylan, Inc.(US).

Regional Market Summary

The market in Europe is expected to dominate the global biosimilars market due to the increasing biosimilar product approvals and the emergence of new market participants in the region. The growing prevalence of chronic diseases in the US and Canada is expected to drive the market growth. Furthermore, there has been an increase in the expenditure in research by healthcare bodies; this is expected to fuel the growth of the market in this region. For example, according to Amgen, in 2019, Europe has an advanced biosimilar market, with 53 approved biosimilar products. The market in Asia-Pacific expected to show a considerable amount of growth. This can be attributed to the patent expiry of biologic products, introduction of new biosimilars, adoption of biosimilars to reduce the treatment cost, and the involvement of key companies. For instance, according to the National Center for Biotechnology Information, in 2019, Many key biologics are scheduled to lose their patent by the year 2020, which will provide the opportunity to other biopharmaceutical companies to develop similar biologics. Already there are more than 100 Indian biopharmaceutical companies are engaged in manufacturing and marketing of biosimilar. The market in Americas is projected to have a steady growth rate during the forecast period owing to an increase in chronic diseases and well-developed healthcare system. The market in the Middle East & Africa is projected to account for the least share of the global market due to low disposable income in the region.

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