India Biosimilar Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 18.10% (2024-2032)
The India biosimilar market is experiencing significant growth, driven by consumer preferences for convenience and time-saving solutions. According to the latest report by IMARC Group, the market size is projected to exhibit a growth rate (CAGR) of 18.10% during 2024-2032. The study provides a detailed analysis of the industry, including the India biosimilar market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
India Biosimilar Market Trends and Drivers:
Rapid Expansion of the India Biosimilar Market
Increasing Prevalence of Chronic Illnesses:
The market is growing rapidly due to a higher incidence of chronic illnesses.
There is a rising need for cost-effective treatments.
Cost-Effectiveness and Therapeutic Benefits:
Biosimilars are less expensive than biologics yet offer comparable therapeutic benefits.
Growing popularity due to economic advantages.
Supportive Regulatory Framework:
Regulatory support and initiatives by Indian government bodies promote healthcare accessibility.
These factors significantly drive market growth.
Focus on Research and Development (R&D)
Pharmaceutical Companies' R&D Activities:
Increased focus on R&D to introduce new biosimilars.
R&D efforts bolster the expansion of the biosimilar market.
High Incidence of Diseases:
High prevalence of diseases like cancer and diabetes.
Aging population increases demand for biosimilars.
Aims to reduce healthcare expenses and improve patient outcomes.
Technological Advancements and Collaborations
Technological Advancements:
Adoption of advanced manufacturing processes.
Emphasis on high-quality standards enhances biosimilar production.
Collaborations Between Pharmaceutical Companies:
Increasing collaborations between domestic and international companies.
Significant trend driving market growth.
Expanding Healthcare Infrastructure
Healthcare Infrastructure and Expenditure:
Expansion of healthcare infrastructure.
Rising healthcare expenditure by public and private sectors.
These factors facilitate market growth.
Awareness and Acceptance
Increasing Awareness and Acceptance:
Growing awareness and acceptance among healthcare providers and patients.
Crucial for market penetration.
Competitive Landscape
Evolution of Competitive Landscape:
Numerous market players investing in innovative biosimilar development.
Aiming to cater to unmet medical needs.
Contributing to the sustainable growth of the India biosimilar market over the forecasted period.
Request to Get the Sample Report: https://www.imarcgroup.com/india-biosimilar-market/requestsample
India Biosimilar Market Segmentation:
Molecule Insights:
Infliximab
Insulin Glargine
Epoetin Alfa
Etanercept
Filgrastim
Somatropin
Rituximab
Follitropin Alfa
Adalimumab
Pegfilgrastim
Trastuzumab
Bevacizumab
Others
Indication Insights:
Auto-Immune Diseases
Blood Disorder
Diabetes
Oncology
Growth Deficiency
Female Infertility
Others
Manufacturing Type Insights:
In-house Manufacturing
Contract Manufacturing
Regional Insights:
North India
West and Central India
South India
East and Northeast India
Ask Analyst for Customization and Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=21512&flag=C
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
Comments