Latin America Biosimilars Market Growth Rates (2017–2022
Latin America Biosimilars Market was worth USD 580.7 million in 2016 and estimated to be growing at a CAGR of 29.68%, to reach USD 2,646.1 million by 2022.
(EMAILWIRE.COM, June 05, 2018 ) Latin America Biosimilars Market was worth USD 580.7 million in 2016 and estimated to be growing at a CAGR of 29.68%, to reach USD 2,646.1 million by 2022. Biosimilars are emerging as one of the most important sector in the healthcare industry. With increasing healthcare costs, biosimilars are being looked upon as an affordable treatment option. Growing economies are observing comprehensive growth in biosimilars industry from demanding clinical needs of therapeutics. Rise in GDP and healthcare expenditures, and the demand for cost effective therapeutics solution has resulted in the growth of this market.
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Biosimilars are made using living cells that treat disease, by recombinant DNA technology and controlled gene expression. Most biosimilars are derived from bacteria, viruses, plants and animals. Biosimilar drugs are used in prevention and cure of various diseases such as rheumatoid arthritis, cancer, chronic kidney failure, oncology, diabetes, heart attacks, autoimmune diseases, growth hormone deficiency, and infectious disease.
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Biosimilars offer a cheaper alternative for other biological and synthetic drugs. Limited healthcare resources across many Latin American countries result in underutilization of important biosimilars for conditions such as cancer and rheumatoid arthritis, largely due to their cost and a lack of proper support from state-run programs. These factors contribute to below optimal adoption of clinical practice recommendations and poor care across the region. Players are increasingly looking to biosimilars to help cut down on their healthcare expenditure and broaden patient access. Legislation to ensure the safety, quality, and effectiveness of biosimilars, and enforce strict regulatory and testing standards, is already there in the region, but varies from country to country. However, high manufacturing cost and complexity, and the availability of low priced generic drugs in the market are some of the major restraints of biosimilars market are facing.
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Based on product types, biosimilars are classified into Protein, Insulin, Human Growth Hormones, Granulocyte Colony-stimulating Factor (G-CSF), Interferons, Recombinant Glycosylated Proteins, Erythropoietin, Monoclonal Antibodies, Follitropin, Recombinant Peptides, Glucagon and Calcitonin. Their applications include chronic and autoimmune diseases, blood disorders, oncology disease along with growth hormone deficiency. Furthermore, on the basis of geography, the Latin America Market is analysed under various regions namely, Argentina, Brazil, and Mexico. Biosimilars in Latin America account for a large percentage of pharmaceutical expenditure but relatively a very small number of prescriptions. In many Latin American countries, biosimilars for conditions such as breast cancer, rheumatoid arthritis and non-small cell lung cancer are presently being developed and may soon be out in the market.
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Some of the major players in the biosimilars market are Sandoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd. Dr. Reddy’s Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd.
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Biosimilars are made using living cells that treat disease, by recombinant DNA technology and controlled gene expression. Most biosimilars are derived from bacteria, viruses, plants and animals. Biosimilar drugs are used in prevention and cure of various diseases such as rheumatoid arthritis, cancer, chronic kidney failure, oncology, diabetes, heart attacks, autoimmune diseases, growth hormone deficiency, and infectious disease.
Request Sample Report @ https://www.marketdataforecast.com/market-reports/latin-america-biosimilars-market-1146/request-sample
Biosimilars offer a cheaper alternative for other biological and synthetic drugs. Limited healthcare resources across many Latin American countries result in underutilization of important biosimilars for conditions such as cancer and rheumatoid arthritis, largely due to their cost and a lack of proper support from state-run programs. These factors contribute to below optimal adoption of clinical practice recommendations and poor care across the region. Players are increasingly looking to biosimilars to help cut down on their healthcare expenditure and broaden patient access. Legislation to ensure the safety, quality, and effectiveness of biosimilars, and enforce strict regulatory and testing standards, is already there in the region, but varies from country to country. However, high manufacturing cost and complexity, and the availability of low priced generic drugs in the market are some of the major restraints of biosimilars market are facing.
Inquire Before Buy @ https://www.marketdataforecast.com/market-reports/latin-america-biosimilars-market-1146/inquire
Based on product types, biosimilars are classified into Protein, Insulin, Human Growth Hormones, Granulocyte Colony-stimulating Factor (G-CSF), Interferons, Recombinant Glycosylated Proteins, Erythropoietin, Monoclonal Antibodies, Follitropin, Recombinant Peptides, Glucagon and Calcitonin. Their applications include chronic and autoimmune diseases, blood disorders, oncology disease along with growth hormone deficiency. Furthermore, on the basis of geography, the Latin America Market is analysed under various regions namely, Argentina, Brazil, and Mexico. Biosimilars in Latin America account for a large percentage of pharmaceutical expenditure but relatively a very small number of prescriptions. In many Latin American countries, biosimilars for conditions such as breast cancer, rheumatoid arthritis and non-small cell lung cancer are presently being developed and may soon be out in the market.
Buy Now @ https://www.marketdataforecast.com/cart/buy-now/latin-america-biosimilars-market-1146
Some of the major players in the biosimilars market are Sandoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd. Dr. Reddy’s Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd.
About Market Data Forecast:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options. For more info kindly visit, www.marketdataforecast.com
Contact:
Abhishek Shukla
Sales Manager (International Business Development)
Market Data Forecast
Direct Line: +1-888-702-9626
Mobile: +91 998 555 0206
Mail: abhishek@marketdataforecast.com
Contact Information:
Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results