The Business Research Company’s Oral Biologics & Biosimilars Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 23, 2020 /EINPresswire.com/ — Biologics are drugs made from living cells using highly complex technology, while biosimilars are biological products which are produced to be identical to a biologic already approved, known as reference drugs. Biosimilars are meant to have similar safety and efficacy as the reference biologic product. Technology is expected to be a continued driver of the oral biologics and biosimilars market growth during this period. An area of particular development is likely to be physiology simulation modeling. Markets such as this one will benefit from the greater efficiencies offered by developments in this area. For example, Eli Lilly and Pfizer have adopted Amazon’s Elastic Compute Cloud (EC2) platform to conduct simulation models in early drug discovery that have been operational within hours, whereas traditional models would have taken weeks to conduct simulations. The Open Innovation Drug Discovery program is another initiative by Lilly to enhance the research and development of biologics.
The global oral biologics market size reached a value of nearly $3.07 billion in 2019, having grown at a compound annual growth rate (CAGR) of 6.5% since 2015. It is expected to grow at a CAGR of 17.1% to nearly $5.78 billion by 2023. Also, the market is expected to growth to $8.68 billion in 2025 at a CAGR of 22.5% and to $23.58 billion in 2030 at a CAGR of 22.1%.
Market-trend-based strategies for the oral biologics and biosimilars market include investments in the oral biologics market to benefit from potentially strong profit margins, shifts to biologics as the innovation rate is increasing in the field, development of microneedle injectors-based drugs to increase the bioavailability and eliminate side effects of subcutaneous route. Player-adopted strategies in the oral biologics and biosimilars industry include strengthening oral biologics business with strategic collaborations, and through new launches and approvals, developing and commercializing new therapies for the treatment of patients with food allergies.
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