Biosimilars Market – Overview
As biosimilars show a similar
effect as compared to generic medicines, they are growing their popularity at
an increased pace. Market concentrated reports associated with the healthcare
industry amid others recently have been made available by Market Research
Future which issues reports on this industry.Biosimilars
Market Size is expected to register a CAGR of 7.5% during the forecast period
of 2019 to 2025, with a market value of USD 13,460 Million in 2018.
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As the processes used to make
generic medicines can’t be used to develop biosimilar medicines, the market for
biosimilars is expanding positively. Increase in the analytical studies has
prompted the increased growth of the biosimilars market in the forecast period. Sizeable
investments in multiple state-of-the-art facilities that are developing
biosimilars has prompted significant growth in the market. The market is
motivated majorly due to the different diseases that are being diagnosed in
recent times. Increased level of clinical trials have influenced the
development of the market considerably. The
focus of this segment is currently on ensuring the release of biosimilar drugs
into the market to treat a wider spectrum of diseases.
Industry Segments
The market for biosimilars
globally is segmented on the basis of product into recombinant
non-glycosylated proteins, recombinant glycosylated proteins, and other.
The Recombinant glycosylated proteins are additionally sub segmented into
monoclonal antibody (mAb) and EPO. Recombinant non-glycosylated proteins
is sub segmented into growth hormones, insulin and other. On the
basis of application, the market is segmented into immune diseases, blood
related disorders, oncology and other. On the basis of manufacturing, the
market is segmented into in-house manufacturing and contract manufacturing.
Biosimilars Market- Detailed Regional Analysis
The regional analysis of the
market for biosimilars includes APAC, North America, Europe, Middle East and
Africa. The European region has been guiding the market for the biosimilars.
Rising geriatric population and growing prevalence of diseases have led to the
growth of this market in the European region. North America has the second top
market followed by the Asia Pacific region. The Asia Pacific biosimilars market
is anticipated to grow at a CAGR of 27.8 percent in the forecast period.
Biosimilars Market- Global Competitive Analysis
The competitors in the market
are trying to get ahead commercially by making sure that demand and supply are
in balance. The momentum of the market’s progress has changed the competitive
backdrop of the market. The competitors in the market are persistently trying to
establish leading market positions through new policies and strategies. The
experienced management in the companies operating in the market are creating
business models which can bring about a fruitful phase of development. The key
trends and players have established a positive tone for development. The
contenders in the market are also leveraging their competitive advantages to
secure their growth in the market. The market development by competitors also
encompasses strong risk management strategies.
Sandoz International GmbH
(Germany), Celltrion, Inc. (South Korea), F. Hoffmann-La Roche Ltd.
(Switzerland), Biocon Ltd. (India), Astra Zeneca (UK), Amgen Inc. (U.S.),
Pfizer Inc. (U.S.), Novartis (Switzerland), Accord Healthcare (UK), Eli
Lilly (US), Teva Pharmaceuticals Industries Ltd. (Israel), Dr. Reddy’s
Laboratories Ltd. (India) and Samsung Bioepis (South Korea).
Industry Updates:
June 2018 Mylan
NV has recently achieved a major milestone recently by winning an approval from
the U.S. Food and Drug Administration aimed at a biosimilar version of Neulasta
which is an anti-infective used for patients suffering from breast cancer
treatment. The pharmaceutical giant plans to launch the product, Fulphila, in
the coming weeks. The McClintic Coates said that a big part of the FDA’s
approval of Mylan’s biosimilar cancer therapy, Fulphila, is attributed to the
drugmaker’s Morgantown-based research and development capabilities. Fulphila
would signify the first alternative and more reasonable treatment option to Neulasta
for oncology patients.
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