Oral Biologics & Biosimilar Drugs Market Size, Share, Revenue, Trends And Drivers For 2024-2033
Oral Biologics & Biosimilar Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Oral Biologics & Biosimilar Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 6, 2024 /EINPresswire.com/ -- The oral biologics & biosimilar drugs market1 has experienced robust growth in recent years, expanding from $5.94 billion in 2023 to $7.19 billion in 2024 at a compound annual growth rate (CAGR) of 21.0%. The growth in the historic period can be attributed to rising prevalence of chronic diseases, growing awareness of oral biologics, increasing patent expirations, rising demand for biosimilars.
Strong Future Growth Anticipated
The oral biologics & biosimilar drugs market is projected to continue its strong growth, reaching $13.32 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to targeted therapy, increasing focus on preventive medicine, rising healthcare spending, aging population.
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Growth Driver Of The Oral Biologics & Biosimilar Drugs Market
The rising prevalence of chronic diseases such as arthritis, asthma, and cancer is expected to be a major driver of the oral biologics and biosimilar market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases, and biologics are increasingly used to treat these chronic diseases.
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Major Players And Market Trends
Key players in the oral biologics & biosimilar drugs market include Novartis International AG, Rani Therapeutics Holdings Inc., Eli Lilly and Company, AstraZeneca PLC, Novo Nordisk A/S, Biocon Limited.
Major companies operating in the oral biologics and biosimilar markets market are focusing on innovative products such as interchangeable biosimilars to drive revenues in their market. Interchangeable biosimilars are a specific category of biosimilar drugs that meet additional regulatory requirements, typically in the United States, which allow them to be substituted for the reference biologic product without the intervention of the prescribing healthcare provider.
Oral Biologics & Biosimilar Drugs Market Segments2:
1) By Therapy: Lymphocyte Modulators, Interleukin Inhibitors, Tumor Necrosis Factor-Alpha Inhibitors
2) By Disease: Asthma, Crohn’s Disease, Carcinoma, Arthritis, Diabetes, Multiple Myeloma, Enterocolitis, Multiple Sclerosis, Sarcoma, Psoriasis and Others
3) By Molecule Type: Vaccines, Proteins and Peptides, Monoclonal Antibodies, Other Molecule Types
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Geographical Insights: North America Leading The Market
North America was the largest region in the oral biologics and biosimilar drugs market in 2023. The Middle East is expected to be the fastest growing region in the oral biologics & biosimilar drugs market report during the forecast period. The regions covered in the oral biologics & biosimilar drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Oral Biologics & Biosimilar Drugs Market Definition
Major companies operating in the oral biologics and biosimilar markets market are focusing on innovative products such as interchangeable biosimilars to drive revenues in their market. Interchangeable biosimilars are a specific category of biosimilar drugs that meet additional regulatory requirements, typically in the United States, which allow them to be substituted for the reference biologic product without the intervention of the prescribing healthcare provider.
Oral Biologics & Biosimilar Drugs Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Oral Biologics & Biosimilar Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oral biologics & biosimilar drugs market size, oral biologics & biosimilar drugs market drivers and trends, oral biologics & biosimilar drugs market major players, oral biologics & biosimilar drugs competitors' revenues, oral biologics & biosimilar drugs market positioning, and oral biologics & biosimilar drugs market growth across geographies. The oral biologics & biosimilar drugs market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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