Tag Archives: biosimilars

Key Opportunities, Growth Drivers, Current & Future Trends Of Global Biosimilars Market, 2018 – 2023

Biosimilars Market Overview

The global biosimilar market has been estimated at USD 3474.01 million in 2017. The market is expected to register a CAGR of 43.8% during the forecast period, 2018 to 2023. North America accounted for the largest market share, accounting for approximately 30% of the global market share in 2017, while Asia-Pacific region was estimated to register the fastest CAGR through the forecast period, 2018-2023.

 

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Drugs Market Trends and Insights, by Biosimilars, 2018 to 2023

Market Overview:

Generic drugs market was worth USD 290.83 billion in 2018 and is expected to reach USD 412.50 billion by 2023 with a CAGR of 7.24%. A Generic drug is a pharmaceutical drug, which has the equal chemical substance as the first developed drug. Generic drugs are allowed for profits after patent(s) on unique drug expired. Because the active chemical substance is the same, the medical profile of generics is thought about as being identical in overall performance.

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Increasing number of patent expiration of branded capsules is propelling the growth of the market

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