Global Biosimilar Hormones Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

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The biosimilar hormones market consists of sales of biosimilar hormones by entities that engage in manufacturing biosimilar hormones. These hormones are used when patients have a drop in hormones in their bodies or are unbalanced. Only goods and services traded between entities or sold to end consumers are included.

Global Biosimilar Hormones Market Size And Drivers:

The global biosimilar hormones market is expected to grow from $1.94 billion in 2020 to $2.19 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biosimilar hormones market is expected to reach $5.35 billion in 2025 at a CAGR of 25%. The prevalence of deficiencies in growth hormones and metabolic hormones contributes to the market.

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Trends In The Global Biosimilar Hormones Market

Key players operating in the biosimilar hormones market are undertaking various strategic initiatives such as new product launch in untapped regions to make the drug accessible to a large population. The companies are focusing on launching their products across various locations to boost sales and maximize profits. For instance, in October 2019, Biocon Biologics and Mylan N.V. announced the launch of biosimilar hormones in Australia to treat the polygenic disorder.

Global Biosimilar Hormones Market Segments:
The global biosimilar hormones market is further segmented –
By Type: Teriparatide Biosimilars, Follitropin Alfa Biosimilars, Insulin Biosimilars, Somatropin Biosimilars, Others
By Application: Research & Biotechnology, Diagnostics, Biocatalysts, Therapeutics, Others
By Distribution Channel: Hospital And Retail Pharmacy, Online Pharmacy/epharmacy, Specialty Clinics
By Geography: The global biosimilar hormones market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Biosimilar Hormones Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides biosimilar hormones market overviews, analyzes and forecasts market size and growth for the global biosimilar hormones market, biosimilar hormones market share, biosimilar hormones market players, biosimilar hormones market segments and geographies, biosimilar hormones market’s leading competitors’ revenues, profiles and market shares. The biosimilar hormones market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.