Oral Biologics & Biosimilars Global Market Report 2023

ReportLinker

Major players in the oral biologics &biosimilar drugs market are Novartis, Rani Therapeutics, Eli Lilly and Co., AstraZeneca plc, Novo Nordisk A/S, Biocon Limited, Oramed Pharmaceuticals, BiosanaPharma, Entera Bio Ltd.

New York, April 11, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oral Biologics & Biosimilars Global Market Report 2023" - https://www.reportlinker.com/p06320343/?utm_source=GNW
, Allergan plc, and Emisphere Technologies.

The global oral biologics & biosimilars market will grow from $5377.47 million in 2022 to $6471.49 million in 2023 at a compound annual growth rate (CAGR) of 20.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oral biologics & biosimilars market is expected to grow from $13687.6 million in 2027 at a CAGR of 20.6%.

The oral biologics and biosimilar market consist of sales of receptor modulators, biological agents, and biosimilar lymphocytes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Biologics are drugs made from living cells using highly complex technology while biosimilars are created to function similarly to biologics but are not identical to biologics. The oral biologics and biosimilar market comprise biologics and biosimilar drugs taken orally for the targeted treatment of Alzheimer’s, multiple sclerosis, HIV/AIDS, and other serious conditions and are used to treat chronic diseases such as diabetes, arthritis, and cancer.

North America was the largest region in the oral biologics and biosimilar drugs market in 2021.The Middle East is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The main therapy types of oral biologics and biosimilar lymphocytes are modulators, interleukin inhibitors, and tumor necrosis factor-alpha inhibitors.Interleukin inhibitors are immunosuppressive drugs that stop interleukins from working.

The various diseases include asthma, Crohn’s disease, carcinoma, arthritis, diabetes, multiple myeloma, enterocolitis, multiple sclerosis, sarcoma, psoriasis, and others that are treated by molecular types such as vaccines, proteins and peptides, monoclonal antibodies, and other diseases. These are distributed through hospital pharmacies, retail pharmacies, and online pharmacies.

The rising prevalence of chronic diseases such as arthritis, asthma, and cancer is expected to propel the growth 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.

Biologics stimulate the immune system’s attack on cancer cells, aiding the body’s natural defenses in getting rid of the disease-causing cells.According to a United Nations article, a US-based intergovernmental organization, by 2030, chronic diseases are predicted to account for 70% of all fatalities worldwide.

It is anticipated that chronic disease will account for nearly 60% of all deaths worldwide. Therefore, the rise in the prevalence of chronic diseases is driving the growth of the biologics and biosimilar market.

Stringent regulations imposed on the approval of biosimilar are anticipated to hinder the growth of oral biologics and the biosimilar market in the forecast period.The governments of different regions impose different rules regarding the production and use of biologics and biosimilars.

Further, issues such as patent infringement or agreement issues restrict the manufacturers of biologics and biosimilars from commercializing the government-approved biosimilars.The US Food and Drug Administration requires a double regulatory approval for biosimilars, restricting the use of biosimilars as interchangeable drugs for biologics whereas, in Europe, the European Medicines Agency (EMA) approves biosimilars as interchangeable products for biologics, out of the total 17 approved biosimilars only 7 biosimilars including 4 originating biologics could enter the US commercial market.

The robust government policies for approval of these drugs impact the manufacturers in oral biologics and biosimilar markets.

The creation of new insulin biosimilar is a key trend gaining popularity in the oral biologics and biosimilar market.The key players operating in the oral biologics and biosimilar market are investing in creating a biosimilar copy of insulin to capture the market share.

For instance,In November 2021, Biocon, an India-based biopharmaceutical company launched inter-changeable biosimilar insulin.These products help to control high blood sugar in pediatric patients with type 1 diabetes and adults with type 2 diabetes and are available in a vial and prefilled pen presentations.

These are interchangeable for the reference brand, Lantus (insulin glargine), allowing for substitution at the pharmacy counter. Thus, companies in the oral biologics and biosimilar market are investing in the trend of developing biosimilar of insulin to gain profit.

The countries covered in the oral biologics &biosimilar drugs market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The oral biologics and biosimilars market research report is one of a series of new reports that provides oral biologics and biosimilars market statistics, including oral biologics and biosimilars industry global market size, regional shares, competitors with a oral biologics and biosimilars market share, detailed oral biologics and biosimilars market segments, market trends and opportunities, and any further data you may need to thrive in the oral biologics and biosimilars industry. This oral biologics and biosimilars market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06320343/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001