Global Biosimilar Interleukins Market To Have Growth Rate of 54% Through 2023
The global interleukins market is expected to grow from $0.83 billion in 2019 to $1.6 billion in 2020. The slow growth despite being launched in 2019 is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $5.81 million in 2023 at a CAGR of 53.64%. The increasing prevalence of autoimmune diseases such as psoriasis and rheumatoid arthritis is expected to boost the growth of the interleukin biosimilars market. However, the regulatory framework around the approval of interleukin biosimilars hampers the growth of the market.
The biosimilar interleukins market consists of sales of interleukin biosimilars generated by the establishments that manufacture interleukin biosimilars that are used to treat various autoimmune diseases. Interleukin is a substance derived from white blood cells that enhances infection activity and is used to fight certain types of cancer.
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The global biosimilar interleukins market is further segmented based on type and geography.
By Type: IL-17, IL-23, IL-1, IL-5, IL-6, Others
By Application: Psoriasis, Psoriatic Arthritis, Rheumatoid Arthritis, Asthma, Inflammatory Bowel Disease (IBD), Others
By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, Clinics, Research Institutes.
By Geography: The global biosimilar interleukins market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American biosimilar interleukins market accounts for the largest share in the global biosimilar interleukins market.
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Trends In The Biosimilar Interleukins Market
In January 2020, Sanofi, a France-based pharmaceutical company, acquired Synthorx, Inc. for $2.5 billion. This acquisition enhances Sanofi’s position as an emerging leader in the area of oncology and immunology. Synthorx, Inc. is a US-based biotechnology company focused on developing interleukins for people suffering from cancer and autoimmune disorders. Such mergers and acquisitions are a trend in the market.
Biosimilar Interleukins Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides biosimilar interleukins market overviews, analyzes and forecasts biosimilar interleukins market size and growth for the global biosimilar interleukins market, biosimilar interleukins market share, biosimilar interleukins market players, biosimilar interleukins market size, biosimilar interleukins market segments and geographies, biosimilar interleukins market trends, biosimilar interleukins market drivers and biosimilar interleukins market restraints, biosimilar interleukins market’s leading competitors’ revenues, profiles and market shares. The biosimilar interleukins market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.