Global Biosimilar Hormones Market Trends And Strategies Of Major Players In The Biosimilar Hormones Market 2020-2030
The global biosimilar hormones market is expected to decline from $2.05 billion in 2019 to $1.94 billion in 2020 at a compound annual growth rate (CAGR) of -5.18%. The decline 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 $4.10 billion in 2023 at a CAGR of 28.34%.
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.
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The global biosimilar hormones market is further segmented based on type and geography.
By Type: Teriparatide Biosimilars, Follitropin Alfa Biosimilars, Insulin Biosimilars, Somatropin Biosimilars, Others.
By Application: Research & biotechnology, Diagnostics, Biocatalysts, Therapeutics, Others..
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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Trends In The Biosimilar Hormones Market
Stringent regulations imposed on the approval of hormone biosimilars limits the growth of the biosimilar hormones market. Biosimilars are approved on the same standard of pharmaceutical quality, efficacy, and safety that apply to all biologics approved in the European Union
Biosimilar Hormones Global Market Report 2020 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.