IMARC Group's report titled "United States Biosimilar Market Report by Molecule (Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab, Pegfilgrastim, Trastuzumab, Bevacizumab, and Others), Manufacturing Type (In-House Manufacturing, Contract Manufacturing), Indication (Auto-Immune Diseases, Blood Disorder, Diabetes, Oncology, Growth Deficiency, Female Infertility, and Others), and Region 2024-2032 United States Biosimilar Market Report by Molecule (Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab, Pegfilgrastim, Trastuzumab, Bevacizumab, and Others), Manufacturing Type (In-House Manufacturing, Contract Manufacturing), Indication (Auto-Immune Diseases, Blood Disorder, Diabetes, Oncology, Growth Deficiency, Female Infertility, and Others), and Region 2024-2032" The United States biosimilar market size is projected to exhibit a growth rate (CAGR) of 19.3% during 2024-2032.
The United States biosimilar market within the pharmaceutical industry is witnessing significant growth primarily driven by an increasing number of biosimilar products that receive FDA approval. Moreover, the increasing demand for biosimilars which are generic versions of biologic drugs, offering a cost-effective alternative to expensive brand-name biologics, making essential medications more accessible to patients, is stimulating the market growth. Additionally, the rising healthcare costs and the need to provide more affordable treatment options, along with the imminent patent expirations of several blockbuster biologics are acting as other significant growth-inducing factors. Furthermore, the ongoing supportive regulatory structure of the U.S. government is creating a positive outlook for the market.
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United States Biosimilar Market Trends and Drivers:
Additionally, the acceptance of the Biologics Price Competition and Innovation Act (BPCIA) which is part of the Affordable Care Act, establishing a streamlined pathway for biosimilar approval and encouraging more pharmaceutical companies to enter this space, is augmenting the market. Moreover, the rising competition and pricing strategies employed by manufacturers are acting as other significant growth-inducing factors. As biosimilars provide cost savings, the extent of the discount relative to the reference biologic varies, and market adoption can be impacted by various factors such as payer reimbursement rules, physician and patient acceptance, and marketing strategies. Additionally, the rising commercialization and approval of biosimilars, as they play an important role in controlling healthcare costs and increasing patient access to vital treatments, particularly for chronic conditions like cancer, autoimmune diseases, and diabetes, is also contributing to the market growth. Moreover, the ongoing education and awareness initiatives aimed at healthcare providers and patients, further driving the acceptance and adoption of biosimilars, are anticipated to drive the United States biosimilar market in the coming years.
Report Segmentation:
The report has segmented the market into the following categories:
Molecule Insights:
- Infliximab
- Insulin Glargine
- Epoetin Alfa
- Etanercept
- Filgrastim
- Somatropin
- Rituximab
- Follitropin Alfa
- Adalimumab
- Pegfilgrastim
- Trastuzumab
- Bevacizumab
- Others
Manufacturing Type Insights:
- In-house Manufacturing
- Contract Manufacturing
Indication Insights:
- Auto-Immune Diseases
- Blood Disorder
- Diabetes
- Oncology
- Growth Deficiency
- Female Infertility
- Others
Regional Insights:
- Northeast
- Midwest
- South
- West
Note: 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.
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