Middle East & Africa Biosimilars Market Research Report – Segmented By Type, Technology, Application and Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029)

Updated On: January, 2024
ID: 1083
Pages: 145

MEA Biosimilars Market Size (2024 to 2029)

The size of the Middle East and Africa biosimilars market is forecasted to be worth USD 3.35 billion by 2029 from USD 1.1 billion in 2024, growing at a CAGR of 24.96% from 2024 to 2029 owing to the growing demand to increase the number of research centers in the countries of MEA region.

Biosimilars are emerging as one of the most important sectors 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 the biosimilar market from demanding clinical needs of therapeutics. The rise in GDP and healthcare expenditures and the demand for cost-effective therapeutics solutions have resulted in this market's growth.

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 to prevent and cure various diseases such as rheumatoid arthritis, cancer, chronic kidney failure, oncology, diabetes, heart attacks, autoimmune diseases, growth hormone deficiency, and infectious diseases.Biosimilars offer a cheaper alternative to other biological and synthetic drugs. The main health challenges within the Middle East and African region are beginning to reflect those in Western countries, with diabetes highly prevalent, with more than 1 in 10 adults suffering from it, and cancer-related mortality rates increasing. Economies in this region vary from country to country. While some countries in the region have been able to modify their healthcare expenditure to provide biosimilar therapies, others – such as Egypt and Algeria – are struggling. Government support and initiatives play a crucial role. Emerging pharmaceutical markets and lenient government regulations provide some of the major openings in this is market. However, high manufacturing cost and complexity and the availability of low-priced generic drugs in the market are some of the market's major restraints.

This research report on the MEA biosimilars market has been segmented and sub-segmented the market into the following categories

MEA Biosimilars Market Analysis  By Product Type

  • Protein
  • Insulin
  • Human Growth Hormones
  • Granulocyte Colony-stimulating Factor (G-CSF)
  • Interferons
  • Recombinant Glycosylated Proteins
  • Erythropoietin
  • Monoclonal Antibodies
  • Follitropin
  • Recombinant Peptides
  • Glucagon

MEA Biosimilars Market Analysis By Technology

  • Mass Spectroscopy
  • Chromatography
  • Monoclonal Antibody Technology
  • Recombinant DNA Technology
  • Nuclear Magnetic resonance (NMR) technology
  • Electrophoresis
  • Bioassay

MEA Biosimilars Market Analysis By Disease

  • Oncology Diseases
  • Blood Disorders
  • Growth hormone deficiencies
  • Chronic and autoimmune diseases
  • Others

MEA Biosimilars Market Analysis By Country 

  • KSA
  • UAE
  • Israel
  • rest of GCC countries
  • South Africa
  • Ethiopia
  • Kenya
  • Egypt
  • Sudan
  • rest of MEA

Regionally, awareness of biosimilars and research in the MEA region continues to grow, with the clinical trials of biosimilars already taking place in some countries, most notably Jordan. As a result, the possibility of an increase in interest in biosimilars across these nations is very likely.

KEY MARKET PLAYERS

Companies like 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 are playing an important role in the MEA Biosimilars Market.

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