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Biosimilars Market Size Worth $61.82 Billion By 2025 | CAGR: 35.7%

Published Date : 30 / 07 / 18  | Report Format: PDF

The global biosimilars market is expected to grow at growth rate of 35.7% to reach USD 61.82 billion by 2025.

Biosimilars are the biologic pharmaceuticals which are similar to the reference biologic products. These drugs are similar to biological products which contains synthetically manufactured protein molecules. When the patent of brand drug is expired, manufacturers are planning to develop off-patent biologics like biosimilars that offer similar biological activity. The biosimilars industry offers various opportunities to the manufacturers owing to associated advantages.

As per the various research studies, biosimilars reduce drug development cost up to 20%-25% compared to the originator products owing to the reduced clinical trials. Thus, several companies such as Teva Pharmaceutical, Hospira, Inc., and Amgen are in constant efforts to develop biosimilar. For which, these companies are rigorously increasing their research and development expenses on clinical trials to introduce novel biosimilars. For example, Amgen has a strong product pipeline under biosimilar segment such as ABP 798 (biosimilar rituximab), ABP 710 (biosimilar infliximab), and ABP 215 (biosimilar bevacizumab). Furthermore, increasing incidences of chronic diseases coupled with large number of blockbuster biologics (e.g. Enbrel, and Remicade) going off patent support the industry growth significantly. However, strict regulations and high cost for R&D activities will hamper the market growth.

Key Takeaways

  • In terms of products, the industry is categorized as Recombinant Glycosylated Proteins and Recombinant Non-Glycosylated Proteins.
  • Recombinant non-glycosylated proteins accounted for the highest share, i.e. 60.1% in 2016. This segment is further bifurcated into Human growth hormone, Lepirudin, Insulin, Interferons, and Granulocyte Colony-Stimulating Factor (G-CSF).
  • Recombinant Glycosylated Proteins segment will provide overall market estimation for products such as factor VIIa, activated protein-c, tissue plasminogen activator, erythropoietin, monoclonal antibodies, and follitropin.
  • In terms of application, oncology segment captured maximum share with 36.9% share in 2016. Increasing cancer incidences help the segment to grow consistently over the study period.
  • In March 2015, U.S. FDA approved its first biosimilar named Zarxio (Filgrastim), and up till now, four biosimilars have been approved by US FDA. With a large number of biologics products expected to go off by 2020 in the U.S., the market for the U.S. seems to be more lucrative.
  • Europe market is anticipated to lose its market share to North America with the entry of the United States in the biosimilars market
  • Asia Pacific region is growing with a promising growth rate over the study period. India has been approving biosimilars at a rapid pace after its release of regulatory guidelines in 2012. India has a higher rate of acceptance for biosimilars and has approved more than 50 biosimilars till date.
  • Companies namely Teva Pharmaceuticals, Sandoz AG, and Pfizer account for almost 80% of the industry share.
  • However, it is estimated that these companies are projected to lose their market share to other major players such as Biocon and Amgen in the long run due to strong product pipeline.

KEY BENEFITS OF THE REPORT:

  • Understanding of the strategies that are being adopted by the key players in this market to stay competitive
  • Extensive analysis of the key players dominating the competitive landscape of this market
  • In-depth analysis of the key factors are propelling the growth of the global market
  • Detailed analysis of the geographic region that will witness the strongest growth
  • Granular analysis of the current market scenario and the expected market grow

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET, BY PRODUCT TYPES

  • Recombinant Glycosylated Proteins
  • Recombinant Non-Glycosylated Proteins

MARKET, BY APPLICATION

  • Oncology
  • Blood Disorders
  • Infectious Diseases
  • Autoimmune Diseases
  • Others

MARKET, BY REGION

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Rest of APAC
  • Rest of the World
    • Middle East and Africa
    • Latin America

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