Biosimilars Market 2018 Global Research and Leading Manufacturers Sandoz International GmbH, Apotex, Biocon, Zydus Cadila Healthcare, Celltrion, Pfizer, Hexal, Accord Healthcare, Eli Lilly.

Biosimilars Market is expected to have a highly positive outlook for the next five years 2018–2026 according to a recently released Biosimilars Market research report. The report has been added in his large database by Coherent Market Insights.”

The major takeaways in the report are product segment analysis, application segment analysis, regional segment analysis and data of the major Biosimilars Market players from around the world. The report presents an introductory as well as detailed information about the Biosimilars Market through a well-organized layout divided into easy to understand chapters.

Biosimilars are generally derived from living cells of plants, animals, yeast, bacteria and viruses, through genetic engineering processes including controlled gene expression and recombinant DNA technology. In 2010, the Food and Drug Administration (FDA) approved biosimilars as a part of Patient Protection and Affordable Care Act. The approval process is based on thorough demonstration of similarity and comparability with existing approved product.

For instance, in August 2016, the FDA approved Sandoz for the biosimilar Erelzi for treatment of multiple inflammatory diseases such as rheumatoid arthritis, plaque psoriasis, ankylosing spondylitis and juvenile idiopathic arthritis.

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Biosimilars are biopharmaceutical drug having active components, which are similar to one that has previously been licensed. They are identical copies of the original products and can be manufactured only when the patent for the original innovator product expires. Biologics or biosimilars are sensitive to changes in manufacturing process due to the higher molecular complexity.

Increasing demand for cost-effective drugs, increasing number of geriatric population, high healthcare expenditure, increasing government support and initiatives to develop and promote biosimilars, strategic collaborations to enhance productivity and clinical trial for development of biosimilars are major factors driving growth of the market. According to the American Health and Drug Benefits in 2013, an estimated sale of biosimilars was more than US$ 1 billion annually. For instance, global sales of biosimilars was projected to reach US$ 7.19 billion for Remicade (infliximab) and US$ 5.98 billion for Avastin (bevacizumab), owing to high adoption of biosimilar drugs by doctors and patients. Furthermore, expiry and termination of pharmaceuticals drugs such as Humira, Enbrel and Remicade is providing significant opportunity for new players to enter the market.

Key players operating in the biosimilars market include;

- Sandoz International GmbH,
- Apotex, Biocon,
- Zydus Cadila Healthcare,
- Celltrion,
- Pfizer,
- Hexal,
- Accord Healthcare,
- Harvest Moon Pharmaceuticals,
- Eli Lilly, and
- Teva Pharmaceuticals.

Leading manufacturers are focusing on outsourcing the production of biosimilar drugs with strategic collaborations to replace existing drugs.

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Biosimilars Market Taxonomy

The global biosimilars market is segmented on the basis of product type, manufacturing type, application, end user, and geography.

On the basis of product type, the global biosimilars market is segmented into:
Monoclonal Antibodies
Recombinant Hormones
Anti-Inflammatory Agents
Recombinant Growth Stimulators
Immunomodulators

On the basis of by manufacturing type, the global biosimilars market is segmented into:
In-house Manufacturing
Contract Manufacturing Organizations

On the basis of application, the global biosimilars market is segmented into:
Chronic & Autoimmune Diseases
Oncology
Blood Disorders
Growth Hormone Deficiency Diseases
Infectious Diseases
Others

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.