Biosimilars Market 2021 | Trends, Share, Size, Growth Insight, Leading Players, Competitive Analysis, Emerging Technologies, Regional Demand and Forecast

 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.

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 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.

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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Europe Takes the Lead in Biosimilars Market as Lifestyle-Related Disorders Escalate

 Market Scope

Market Research Future (MRFR) expects the biosimilars market to thrive at a rate of 7.5% from 2020 to 2027 (analysis period).

Major Drivers and Impediments

Overall healthcare costs are rising owing to the high-priced pharmaceutical drugs, particularly biologics. Government bodies worldwide are concentrating on lower-priced drug synthesis. The United States spends the most on healthcare and is therefore, working on cutting down on the same. Likewise, price regulations in India and Japan for reducing the health budget have bolstered the demand for cost containment. This scenario has thrown light on the requirement for new affordable and effective therapeutics, which can be favorable for the biosimilars industry in subsequent years.

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Popular biological drugs are edging towards patent cliff and this can mean substantial profits for the global market. Cost effectiveness of biosimilars, especially compared to the patented biologics and successful outcomes during clinical trials should also benefit the global market. The expanding pharmaceutical sector focused on developing biosimilar drugs can be another key growth booster in the near future.

Market Segmentation

Biosimilars industry can be considered with respect to product, applications, and end users.

The products based on which the market has been split into are recombinant glycosylated proteins, recombinant peptides, and recombinant non-glycosylated proteins. Recombinant non-glycosylated proteins are the biggest segment in the global market, thanks to the soaring cases of chronic disorders ranging from growth hormone deficiency to diabetes. As a result, recombinant non-glycosylated proteins are therapeutically used as they are readily available and are cost-effective.

Application-wise, the biosimilars market caters to chronic diseases, oncology, blood disorders, autoimmune diseases, infectious diseases, growth hormone deficiency, and more. Blood disorders have emerged as the top segment, as a result of the rising burden of the condition worldwide and the increased use of biosimilars by virtue of their low cost and the overall reduction in the treatment cost.

Major end users in the global market are hospitals and clinics as well as research institutes. Hospital and clinics are healthcare settings where treatment options and skilled professionals are easily available, and therefore, have emerged as the leading segment in the global industry.

 

Regional Status

Europe, MEA or Middle East & Africa along with the Americas, APAC or Asia Pacific are the primary markets for biosimilars.

Europe has taken the lead in the global market, as the region houses a vast elderly pool, with close to one fifth of the overall EU population aged more than 65 years. This has given way to several lifestyle-related disorders such as oncology, autoimmune diseases, diabetes, to name a few. Presumably, the scenario has raised the demand for biosimilars and can mean higher market growth over the next few years. In addition to this, numerous blockbuster biologics are on track to lose patent in the coming years, which should present lucrative opportunities to the biosimilar manufacturers.

The North American market displays a bright outlook and can emerge quite lucrative in the coming years, in view of the surging burden of chronic ailments in Canada and the United States. The rising spending on research activities by the healthcare agencies also fuels the market expansion in the region. Favorable reimbursement landscape in the region, especially in the US, encourages healthy competition as it results in lower incentives for the players to compete based on price.

The APAC market is slated to witness considerable growth, with China, South Korea and India offering a host of lucrative opportunities for drug development as well as commercialization. These are generics-driven countries and are known for frequently launching new and advanced manufacturing platforms, which has brought down the costs associated with biosimilar production. In the coming few years, majority of the patent expiries is touted to be in biosimilars, which is deemed as a profitable aspect by leading manufacturers and can translate into substantial market growth.

Eminent Vendors

Top manufacturers of biosimilars in the global industry include Stada Arzneimittel AG (Germany), Teva Pharmaceuticals (Israel), Biocon (India), Pfizer (US), Sandoz International (Germany), Eli Lily & Company (US), Actavis, Inc. (US), Dr. Reddy’s Laboratories (India), Cipla Ltd (India), Amgen, Inc. (US), Samsung Biologics (South Korea), Hospira Inc.(US), Mylan, Inc.(US), Celltrion (South Korea), to mention a few.

Latest Developments

March 2021

European Medicines Agency has given the green light to Kixelle, a biosimilar developed by Biocon Biologics Ltd., touted to be the fourth ever biosimilar insulin and the second fast-acting insulin analogue biosimilar to be introduced in the EU. Kixelle is a fast-acting biosimilar insulin analog that helps treat diabetes mellitus in adolescents, children and adults.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Biosimilars Market Comprehensive Analysis, Trends, Growth and Demand

 Atrial Fibrillation Market Overview:

Rapid technological advancement is aiding the healthcare sector for the development of advanced medical devices to treat various complex health conditions. Atrial fibrillation is a medical condition where the heartbeats are irregular which increases the risk of stroke, heart failure, blood clots and other heart-related complications. This condition may sometime require surgical treatments such as ablation, pacemakers and others. Market Research Future (MRFR) has published a detailed report stating that the global atrial fibrillation market is marked to expand at a notable growth rate during the forecast period of 2017-2023.

 

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Atrial Fibrillation Market Drivers and Restraints:

Increasing prevalence of atrial fibrillation owing to the factors such as high alcohol consumption, hypertension and other chronic diseases, changing lifestyle and rise in geriatric population are majorly fueling the growth of the global atrial fibrillation market. Rapid adoption of advanced technology in the healthcare sector in order to improve the diagnostic and treatment procedures and availability of high-resolution images that can be obtained for proper diagnosis of heart conditions are propelling the growth of the global atrial fibrillation market. Increased research and development in the healthcare sector in various regions is also driving the expansion of the global atrial fibrillation market. However, absence of primary healthcare services and low penetration of advanced technology in the underdeveloped countries are likely to restrain the expansion of the global atrial fibrillation market during the forecast period.

 

Atrial Fibrillation Market Segmentation:

The global atrial fibrillation market has been segmented on the basis of product and end-users. Based on product, the atrial fibrillation market has been segmented into non-surgical and surgical. Based on end-users, the global atrial fibrillation market has been segmented into cardio centers, big hospitals, and heart specialty care enterprises. The heart specialty care enterprises segment commands the major share in the global atrial fibrillation market.

 

Atrial Fibrillation Market Regional Analysis:

Geographically, the global atrial fibrillation market has been segmented into four major regions such as the Americas, Europe, Asia Pacific and the Middle East and Africa. The Americas project significant growth in the global atrial fibrillation market owing to the increasing prevalence of heart conditions as a result of changing lifestyle, busy work culture and unhealthy dietary habits of the population in this region. Easy adoption of technologically advanced treatment solutions in the well-developed healthcare sector is also propelling the growth of the atrial fibrillation market in this region. Increased research and development expenditure for introduction of advanced treatment and diagnosis techniques is fueling the growth of the atrial fibrillation market in the Europe region. Rise in prevalence of individuals suffering from atrial fibrillation and development of healthcare sector in the emerging economies are aiding the growth of the atrial fibrillation market in the Asia Pacific region. The Middle East and Africa region is anticipated to project sluggish growth in the global atrial fibrillation market owing to the lack of primary healthcare services and poor economic conditions in the underdeveloped areas of this region.

 

Industry Updates:

In November 2018, Johnson and Johnson Medical Devices Company has announced that Biosense Webster Inc. has successfully treated the first patient in its STELLAR U.S. Investigational Device Exemption (IDE) study that has been carried out to evaluate safety and effectiveness of Heliostar Multi-electrode Radiofrequency balloon ablation catheter in treating atrial fibrillation. 

 

In December 2018, it has been announced the first patient has been treated in the TERMINATE AF study for evaluation of Cardioblate Irrigated RF System of Medtronic and also its CryoFlex Surgical Ablation System for the patients with persistent atrial fibrillation that are undergoing open heart surgery. 

 

Key Players:

The prominent players profiled by MRFR that are operating in the global atrial fibrillation market are Biosense Webster, Carima, Agricore, Medtronic, and St. Jude Medical.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

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Magarpatta Road, Hadapsar,

Pune – 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com 

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Biosimilars Market Counting 7.5% CAGR up to 2025 | By Type : Biopsy Based, Endoscopy Based, Imaging Procedure and others | MRFR

Market Synopsis
Market Research Future (MRFR) postulates that the global biosimilars market is predicted to garner USD 3.35 billion, grabbing a CAGR of 26% throughout the forecast period (2017-2023). The augmenting incidences of several chronic diseases are estimated to favor the market growth. Biosimilars are referred to as a biological medical product which are identical copies of the original medical product. They are generally derived from a plant, bacteria, yeast, and other several processes. Biosimilars are neither generics nor treated like generic drugs. Also acknowledged as bio-pharmaceuticals, biosimilars differ from generics in the manufacturing process. They are produced by two main processes, recombinant DNA technology and controlled gene expression.
Market Potential and Pitfalls
With the augmenting incidences of several chronic diseases, growing demand for cheap medical products, and strategic collaborations leading to clinical trials and enhanced productivity, the global biosimilars market is estimated to flourish throughout the appraisal period. Biosimilars are extensively used in the treatment and prevention of chronic diseases like cancer, diabetes, autoimmune disease, cardiovascular diseases (CVDs), kidney failure, rheumatoid arthritis, hematological disease, hormone growth deficiency, and infectious disease. This is likely to create momentum to the market growth during the estimated period. Also, with the growth in the geriatric population, the demand for biosimilars is expected to trigger.
Biosimilars are constantly gaining prominence over other conventional biologics due to lesser cost as compared to the parent biological drugs. Moreover, different private and government bodies are promoting the use of biosimilars over synthetic drugs and conventional biologics, which is further propelling the growth of the market across the globe. Also, with the rapid growth in the pharmaceutical sector combined with the high cost of existing biological drugs, the market is anticipated to boom. 
On the contrary, physician skepticism coupled with the lack of awareness regarding biosimilars is some of the top barriers likely to vitiate the market growth in the coming years. Additionally, complexity and high manufacturing cost can act as roadblocks to the mainstream production of biosimilars. Despite such hiccups, discounted prices of biosimilars will impact the overall biosimilar sales, as patients are the key beneficiaries.
Global Biosimilars Market: Segmental Analysis
The global biosimilars market has been segmented on the basis of product, application, and manufacturing.
By mode of product, the global biosimilars market has been segmented into recombinant non-glycosylated proteins, recombinant glycosylated proteins, and others. Among these, the recombinant glycosylated proteins segment is anticipated to occupy the largest share and is likely to retain its dominance. The growth is credited to the wide therapeutic area of such proteins coupled with the presence biosimilar version of monoclonal antibodies at much lower rates. 
By mode of application, the global biosimilars market has been segmented into oncology, immune diseases, blood-related disorders, and others.
By mode of manufacturing, the global biosimilars market has been segmented into contract manufacturing and in-house manufacturing. Among these, the in-house manufacturing is presumed to occupy the largest share owing to the rising demand for cost-effective biosimilar products due to the augmenting incidences of several chronic diseases.
Regional Insights
Geographically, the biosimilars market span across regions namely, Europe, Asia Pacific, North America, and the Middle East & Africa.
Among all the regions, the European region is likely to dominate the global biosimilars market and is estimated to retain its dominance in the coming years. The growth is credited to the rising prevalence of diseases coupled with the growth in the geriatric population in this region. Moreover, advanced medical research and technological advancements are further triggering the demand for biosimilars in this region. The growth in the regional market is likely to be stimulated by patent expiry of biologic products combined with the launch of new biosimilars and the advent of new market participants.
The North American region is predicted to occupy the second largest share in the global market owing to technological advancements and extensive medical research. The market is mainly driven by the presence of large research labs such as Amgen, Sandoz, Teva Pharmaceutical, and others.
The Asia Pacific region is anticipated to emerge as the fastest-growing region owing to the immense economic development coupled with the booming biotechnology companies in this region. The country-specific markets in this region generating maximum revenue are India, Australia, South Korea, Japan, and China.
Industry Updates
February 19, 2019: Sandoz, a developer of biosimilar has recently announced the launch of their biosimilar adalimumab, Hyrimoz, in Spain. This biosimilar, referencing Humira, was authorized in the European Union for sale in July 2018. It has been approved for indications of reference adalimumab and is available in 40 mg doses for subcutaneous injection in pre-filled pen or a syringe form.
Competitive Dashboard
The prominent players operating the global biosimilars market are Biocon Ltd. (India), Eli Lilly (U.S.), Novartis (Switzerland), Celltrion Inc. (South Korea), Dr. Reddy’s Laboratories Ltd. (India), Pfizer Inc. (U.S.), Teva Pharmaceuticals Industries Ltd. (Israel), Sandoz International GmbH (Germany), Astra Zeneca (U.K.), Amgen Inc. (U.S.), Samsung Bioepis (South Korea), F. Hoffmann-La Roche Ltd. (Switzerland), and Accord Healthcare (U.K.).
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details