Biosimilar Market report includes in-depth insights of global and regional markets with the sense given for variation in the growth of the industry in certain regions. The report gives information about the competitive situation among the market vendors and company profile, besides this, the report also provides market price analysis and value chain features. This business research report offers information on product development, market sales, regional trade, investment calculation, investment opportunity, trade outlook, policy, regional market, and another important characteristics of the market.
Global biosimilar market is set to witness a healthy CAGR of 27.45% in the forecasted period of 2019-2026. This rise in the market can be attributed to the rising occurrence of treatment of range of chronic disease and their prevention.
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Key Market Competitors:
Few of the major market competitors currently working in the global biosimilar market are Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Mylan N.V., Samsung BioLogics., Amgen Inc, Biocon, Celltrion Inc., Teva Pharmaceutical Industries Ltd., Pfizer Inc, EMD Serono, Inc., Genentech, Inc , WOCKHARDT., Stada Arzneimittel, and others.
Global biosimilar market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares biosimilar market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Global Biosimilar Market By Product Type (MRI, CT, PET, EEG, EMG, MEG, TCD, ICP, Electrodes, Sensors, Gels, Cables), Application (Diagnostics, Therapeutics), Procedure (Invasive, Non-Invasive), Disease (TBI, Stroke, Dementia, Epilepsy), End-Users (Hospitals, Clinics, Diagnostic Centers), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends & Forecast to 2026;
Market Definition: Global Biosimilar Market
Biosimilar are used to record electrical action produced by the human brain. They exhibit high molecular complexity and are quite sensitive to changes in manufacturing processes. EEG device comprises the usage of electrodes to track electrical signals in the person’s brain, and to check for abnormalities in acquired brain signals. They are less expensive as compared to the originators biologic agents as they need not to undergo intensive clinical development process.
- Growing incidences of neurological disorders among population is driving the market growth
- Rising demand for EEG devices in hospitals and diagnostics centers is driving market
- Growing incidence of traumatic brain injuries will also act as a major market driver
- Affordable prices of the biosimilar drug is another important factor driving the market
- High price of complex brain monitoring devices will restrain the growth of this market
- Unfavorable reimbursement policies will restrain the market growth
- High manufacturing cost restraints the market growth
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Segmentation: Global Biosimilar Market
By Product Type
- MRI scanners
- CT scanners
- PET scanners
- Biosimilar (EEG)
- Electromyography Devices (EMG)
- MEG Devices
- TCD Devices
- Intracranial Pressure Monitors (ICP)
- Atrial Septal Defect (ASD)
- Ventricular Septal Defect (VSD)
- Patent Foramen Ovale (PFO)
- Aortic Valve Stenosis
By End User
- Diagnostic Centers
Key Developments in the Market:
- In May 2019, STADA Arzneimittel AG came into partnership with Xbrane Biopharma AB for potential development and strategy formulation for their biosimilar, forming commercialization collaborations around Xbrane’s preclinical biosimilar Xcimzane and Xdivane and other biosimilar. This partnership will help them to expand their portfolio and strengthen their position in the market.
- In October 2018, Mundipharma announced its acquisition with Cinfa Biotech, thereby strengthening its position in biosimilar market. They are planning to develop biosimilar which will continue to afford healthcare systems. This acquisition will benefit Mundipharma in strengthening its product portfolio, maximizing profits and expand globally.
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