Global biosimilars market to reach $21.1 billion by 2027

20 February 2020

Large patent expiry of biologics in the next few years has imparted an increasingly high momentum to the development of biosimilars. The prevalence of biosimilars has benefitted from their demand in oncology, particularly from the role of monoclonal antibodies in numerous cancer treatments, according to a study by Transparency Market Research (TMR).

The global Biosimilars Market is expected to reach a value of around $21.1 billion by the end of 2027 and is projected to garner a compound annual growth rate (CAGR) of ~23% during 2019–2027. The valuation of the market was pegged at ~$8 billion in 2018.

Drug makers and healthcare companies will benefit from the increasing rate approval of biosimilars in developed nations.

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