Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1,628.3 Million | USD 10,257.7 Million | 35.9% | 2021 |
FrequentlyAsked Questions
The global market for Remicade biosimilars is being driven by major factors such as the advancement of efficient and advanced technology, expanded patent expiration, increased public awareness of biosimilars, increased global government initiatives, and the increasing prevalence of chronic illnesses among the aging population. Additionally, growing Remicade biosimilar adoption in developing nations like China, India, and others will open up new market opportunities for this product.
According to the report, the global Remicade biosimilar market size was worth USD 1,628.3 million in 2021 and is estimated to grow to USD 10,257.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 35.9 percent during the forecast period.
Europe will continue leading the Remicade biosimilar market throughout the projected period. The existence of top market players in the region, the rapid entry of biosimilars into the market, and the high adoption rate owing to the biosimilars' low price are driving the regional growth. The European Medical Association's useful regulatory framework, high medical reimbursement rates, and technological advancement further contribute to regional expansion.
Some of the main competitors dominating the global Remicade biosimilar market include - Johnson & Johnson, Janssen Biotech Inc, Merck & Co., Pfizer Inc, Viatris Inc, Celltrion Inc, Alvogen, Biocon Biologics, Napp Pharmaceuticals, and Nippon Kayaku.
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