DataHorizzon Research anticipates an 18.1% CAGR through next decade.
According to DataHorizzon Research, the biosimilars market size was valued at $27.7 billion in 2022 and is expected to grow to a market size of $143.7 billion by 2032, with a compound annual growth rate (CAGR) of 18.1%.
The market is growing rapidly due to the increasing prevalence of chronic diseases. Additionally, biosimilars are in high demand due to drugs losing their patents, cost-effectiveness, and government efforts to reduce healthcare expenses.
Biosimilars, approved by FDA, are biologic products identical to reference products. They offer cost savings compared to original biological drugs, which provides another option for treating several acute and chronic diseases. They are gaining popularity due to the rising prevalence of chronic diseases and recent regulatory clearance in several countries.
Elevate Your Commercial Operations with Close-up CRM
September 6th 2024Discover a powerful, cost-effective, and robust CRM platform that maximizes your budget. Seamlessly integrate data from any source, streamline marketing efforts, and optimize HCP promotion, key account management, and digital marketing campaigns. Reduce CRM costs and reallocate funds to enhance data analytics, market research, and human capital, boosting overall commercial operations impact.
AI-Enabled Pharma CRM Driving Intelligent Customer Engagement
September 6th 2024Discover our unparalleled CRM solution that integrates AI/ML for enhanced stability, security, and performance. Leverage our team of 1000+ experts and 25K+ data provider partners. Our cloud-based SaaS model allows rapid global deployment and scalability, while our clean UX focuses on intuitive AI experience and rapid user adoption. Ensure swift 80% physician onboarding with our intuitive AI platform, speeding strategic integration.