GCC Biosimilar Market: Market Size, Share, Trends, Industry Analysis, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the GCC biosimilar market based on its segments including molecule, type of manufacturing, indication, and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter's Five Forces models.
Report Metrics
Historical Year: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
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A biosimilar refers to a biopharmaceutical drug that is almost similar to a reference biologic drug in terms of quality, function, safety, and efficacy. These drugs can only be produced if the patent of the reference product has expired. It is manufactured using biological substances, such as plant or animal cells and microorganisms. Biosimilar drugs are widely used to prevent, determine and treat several medical conditions and manufacture monoclonal antibodies, vaccines, and therapeutic proteins. These drugs are gaining wide traction across the GCC region as they are highly effective for medical use with no major difference.
Note: The study incorporates COVID-19’s direct market impact as well as the indirect effects of related industries on the GCC biosimilar market. These insights are regularly updated by the subject matter experts at Syndicated Analytics
GCC Biosimilar Market Industry Trends and Drivers:
The growing number of patent expiration of various blockbuster biologic drugs is primarily driving the GCC biosimilar market. Moreover, the expanding geriatric population and the increasing prevalence of chronic disorders, such as autoimmune diseases, cancer, diabetes, etc., are also contributing to the market growth. In addition to this, the escalating adoption of biosimilars, owing to their economical prices, is acting as another significant growth-inducing factor. Furthermore, numerous regional pharmaceutical companies are forming strategic alliances and collaborations with international medical research institutes to gain a competitive advantage in the development, manufacturing, or commercialization of their products, which is creating a positive outlook for the market. Additionally, the introduction of favorable government policies to accelerate the clinical trials and approvals of biosimilar drugs is propelling the market growth. Moreover, various cost-saving initiatives undertaken by government bodies of the GCC nations are encouraging the usage of biosimilars over branded biologics. This, in turn, is also expected to cater to the growth of the GCC biosimilar market over the forecasted period.
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GCC Biosimilar Market Segmentation:
The market is segmented on the basis of molecule, type of manufacturing, indication, and region.
Segmentation by Molecule:
- Infliximab
- Insulin Glargine
- Epoetin Alfa
- Etanercept
- Filgrastim
- Somatropin
- Rituximab
- Follitropin Alfa
Segmentation by Type of Manufacturing:
- In-house Manufacturing
- Contract Manufacturing
Segmentation by Indication:
- Auto-Immune Diseases
- Blood Disorder
- Diabetes
- Oncology
- Growth Deficiency
- Female Infertility
Segmentation by Country:
- Saudi Arabia
- United Arab Emirates
- Qatar
- Kuwait
- Oman
- Bahrain
Competitive Landscape:
The report also provides insights on the competitive landscape of the biosimilar market with the leading players profiled in the report.
Read Also: GCC Aquafeed Market Size
Discover how this report can help boost your revenues:
- Examine the current trends in the GCC biosimilar market to evaluate industry prospects
- Analyze the present and future performance in established and emerging markets
- Evaluate market dynamics and expansion opportunities
- Investigate the economic and non-economic factors influencing market segments
- Employ qualitative and quantitative market analysis to enhance data-driven decisions
- Analyze how demand and supply factors influence industry growth at the regional and country level
- Study the market competition as per Porter’s five forces model
- Gain insights to new product launches and growth strategies employed by market players
- Capitalize on comprehensive profiles of major companies operating in the industry
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