According to a TechSci Research report titled “Canada Biosimilar Contract Manufacturing Market – By Region, Competition, Forecast and Opportunities, 2028,” the biosimilar contract manufacturing market in Canada is projected to experience significant growth from 2024 to 2028. This growth can be attributed to the rising popularity of biosimilars in treating various diseases, such as cancer, autoimmune disorders, blood conditions, and more. Biosimilars are favored due to their cost-effectiveness compared to biologics in the region. The increasing adoption of biosimilars, especially in developing countries, is expected to further fuel the Canadian biosimilar contract manufacturing market. Additionally, the demand for affordable and highly efficient medications, along with the upcoming expiration of patents for several biologics, will contribute to the expansion of the market. Major pharmaceutical companies securing licenses for developing biosimilar versions of adalimumab will also play a role in supporting the growth of the Canada biosimilar contract manufacturing market.
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However, despite Canadian government policies aimed at promoting biosimilar development and adoption, regulatory hurdles could impede the approval process, potentially hindering the growth of the biosimilar contract manufacturing market in Canada during the forecast period. The biologic drug market is intensely competitive, with substantial investments in research and development. This environment has led to intricate intellectual property challenges, such as patent disputes and difficulties in biosimilar manufacturing processes. These challenges might pose obstacles to the market’s growth prospects. Additionally, while biosimilars offer cost advantages over biologics, the pricing landscape for biosimilars is becoming increasingly competitive, potentially limiting the growth of the Canada biosimilar contract manufacturing market.
The Canada biosimilar contract manufacturing market can be categorized by product, technology, application, and region. In terms of product, the market comprises recombinant non-glycosylated proteins and recombinant glycosylated proteins. The latter segment dominated the market in 2022, driven by the higher availability and affordability of biosimilar insulins, particularly significant in the context of rising diabetes incidence. The demand for monoclonal antibodies is also set to play a pivotal role in the growth of the Canada biosimilar contract manufacturing market.
Based on application, the market can be segmented into oncology, blood disorders, growth hormonal deficiency, chronic and autoimmune disorders, rheumatoid arthritis, and others. The oncology segment is projected to lead the Canada biosimilar contract manufacturing market, given the increasing prevalence of cancer and the escalating costs associated with cancer treatment. There is a growing demand for cost-effective therapeutic solutions.
Major companies operating in Canada biosimilar contract manufacturing market are:
· Catalent Ontario Ltd
· Alcami Corp.
· Almac Group Inc.
· Lonza Canada Inc
· Biocon Ltd.
· Avid Bioservices Inc.
· Wuxi Biologics Cayman Inc.
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“Canada biosimilar contract manufacturing is expected to dominate the market during the forecast period on account due to well defined regulatory framework for biosimilars and the presence of significant biopharmaceuticals contract development and strong healthcare infrastructure within the region. Similarly, increase in product introduction with high number of approvals of biosimilar drugs in recent years is expected to drive the growth of the Canada biosimilar contract manufacturing market during the forecast period. Also, the growing demand for less expensive therapeutic products and the high prevalence of chronic diseases will further propel the growth of Canada biosimilar contract manufacturing market during the forecast period. Furthermore, increasing focus on contract developments is a major factor influencing the growth of the Canada biosimilar contract manufacturing market over the years. Besides, rapid urbanization, the growing geriatric population, lifestyle changes, and increase in the incidence of non-communicable diseases, such as cancer, diabetes, and auto-immune disorders is expected to create a lucrative growth of the Canada biosimilar contract manufacturing market during the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Canada Biosimilar Contract Manufacturing Market Segmented By Product (Recombinant Non-glycosylated Proteins, Recombinant Glycosylated Proteins), By Technology (Mammalian, Non-mammalian), By Application (Oncology, Blood Disorders, Growth Hormonal Deficiency, Chronic & Autoimmune Disorders, Rheumatoid Arthritis, and Others), By Region, Competition, Forecast and Opportunities, 2028”, has evaluated the future growth potential of Canada biosimilar contract manufacturing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Canada biosimilar contract manufacturing market.
Our Free Sample Report Consists of the following:
- Comprehensive insights into the Canada Biosimilar Contract Manufacturing Market.
- In-depth analysis of market segments, including products and applications.
- Key trends, growth drivers, and challenges influencing the market.
Key Questions Answered in this Report:
- What are the factors driving the growth of the Canada biosimilar contract manufacturing market?
- How does the competitive landscape of the biologic drug market impact biosimilar manufacturing?
- What regulatory challenges might hinder the approval of biosimilars in Canada?
- Which segments are expected to dominate the biosimilar contract manufacturing market in Canada?
- What role do patent expirations and intellectual property issues play in shaping the market’s growth trajectory?
In conclusion, the Canada biosimilar contract manufacturing market is poised for substantial growth, driven by factors like the increasing adoption of biosimilars, patent expirations, and demand for cost-effective treatments. However, challenges such as regulatory barriers and competitive pricing dynamics warrant careful consideration for the market’s expansion.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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