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DUBLIN, Sept. 28, 2022 /PRNewswire/ — The “Biosimilars Market Size, Share, Trends, By Product Type, By Disease Type, and By Region Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The Biosimilars Market size is expected to reach USD 88.12 Billion in 2030 and register a revenue CAGR of 21.3% over the forecast period, according to the latest report. The ever-growing prevalence of chronic diseases is the primary driver for the biosimilars market.
The continuous increase in the number of patients with chronic diseases and the unavailability of effective treatments are compelling healthcare providers to look for better therapeutic options. The high cost associated with the treatment of chronic diseases is another major factor that is promoting the adoption of biosimilars. The high cost of research and development (R&D) activities is one of the key restraints for the growth of the biosimilars market.
Chronic diseases are defined as conditions that last one year or more and require ongoing medical attention to manage the symptoms and/or reduce the progression of the disease. These diseases are typically managed through a combination of medication, lifestyle changes, and regular monitoring by healthcare professionals. The most common chronic diseases include diabetes, heart disease, stroke, cancer, and arthritis.
Biosimilars are an important and growing segment of the pharmaceutical market. These drugs are highly similar to, and have been shown to be as safe and effective as, existing biologic drugs. Biosimilars can offer patients and payers significant cost savings while still providing high-quality care. The biosimilars market…
Full story available on Benzinga.com
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