Expanding Horizons: The Rapid Growth and Future Potential of the Biosimilar Market
A new biosimilar market report by Infinium Global Research dives deep into different market segments, both globally and regionally. It explores the factors that will influence this market in the coming years, including positive drivers, challenges, and broader economic trends. The report provides a detailed analysis of current trends, forecasts future growth, and estimates the overall market size in dollars. In a nutshell, the biosimilar market is expected to see significant growth over the next eight years. Market Dynamics Demand Drivers: The biosimilar market is getting a boost from major players. By December 2022, the FDA had greenlit 40 biosimilars, with 25 reaching patients in the US. While COVID-19 slowed down approvals, 2022 saw a resurgence with 7 new biosimilars getting the nod. These approvals built on existing products, rather than introducing entirely new ones. Notably, 2022 also brought the first biosimilar versions of Lucentis to market, along with 4 new product lau...