Rise in occurrence of various kinds of cancers such as brain tumor, lung cancer, and blood cancer is anticipated to boost the growth of the global biosimilars market. Escalating need for using biosimilar drugs as alternative therapy for chemotherapy for cancer patients will prop up the scope of the global biosimilars industry expansion. Increase in occurrence of autoimmune disorders such as rheumatoid arthritis and ankylosing spondylitis will provide new growth avenues for the global industry. Moreover, with key players such as Teva Pharmaceuticals and Sandoz planning to ramp up biosimilar production, the market for biosimilars is anticipated to gain traction over the years to come. The move is aimed at increasing their market share by raising production of expensive medicines used for treating chronic disorders such as cancer and arthritis. According to Allied Market Research report, the global biosimilars market is set to accrue earnings worth nearly $143.6 billion by 2031. Major
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