Biosimilars Market: Analysis of Rising Business Opportunities with Prominent Investment Ratio by Key Players: Novartis, Synthon Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd.

Allied Market Research recently published a report, titled, “Biosimilars Market (Follow-on-Biologics) by Types (Human growth hormone, Erythropoietin, Monoclonal antibodies, Insulin, Interferon, Granulocyte-Colony Stimulating Factor, Peptide) and Application (Blood disorders, Oncology diseases, Growth hormone deficiencies): Global Opportunity Analysis and Industry Forecast, 2014–2020”. According to the report, the global biosimilars market accounted for $2.55 billion in 2014 and is estimated to garner $26.55 billion by 2020, registering the CAGR of 49.1% from 2014 to 2020.

This report provides a comprehensive market share analysis of leading companies and highlights the competition in the market. Product launch is the key strategy adopted by the leading player of biosimilars industry. The key companies profiled in this report are Novartis (Sandoz), Synthon Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., LG Life Sciences, Celltrion, Biocon, Hospira, Merck Serono (Merck Group), Biogen idec, Inc., and Genentech (Roche Group).

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Increased healthcare expenditure, high prevalence of chronic diseases among geriatric population, and low cost of biosimilar drugs compared to original biologics have boosted the growth of the global biosimilar market. However, high initial investment in R&D and stringent regulation in the developed countries to restrict investment hinders the market growth. On the contrary, rise in awareness about biosimilars in emerging markets is expected to create remunerative opportunities for the market players in the coming years.
Recent approval of Zarxio (filgrastim-sndz) as first biosimilar by U.S. FDA has opened new opportunities for biosimilar manufactures. Patents for number of blockbuster bio-pharmaceuticals have either expired or are on the verge of expiration, which is majorly driving the growth of biosimilars industry. Changes in regulatory guidelines and convenient biosimilar drug approval processes have a major impact on the commercial growth of global biosimilars market.

Europe would continue to dominate the market while the Asia–Pacific would emerge as the fastest growing region over the forecast period.
Glycosylated proteins namely, erythropoietin and monoclonal antibodies are the leading biosimilar segments commercially available across the globe, together accounting for about one-third of the market revenue in 2014. This significant hold in the market is chiefly due to its large application in the treatment of chronic conditions such as blood-related disorders, cancer, among others.

Key findings of Global Biosimilars Market:

• The biosimilar applications in blood disorders and oncology collectively evaluated at 61% in 2014
• Interferon is the fastest growing biosimilar, expected to grow at a CAGR of 51.1% during the forecast period
• U.S. would find space in the biosimilar market with a single-digit revenue share of overall biosimilar market by 2020

European region is the leading beneficiary of biosimilars market and is attracting investors, interested in biosimilars industry. The prospects in the European region are largely supplemented by the presence of streamlined regulatory guidelines and a high level of adoption for biosimilars among physicians. The establishment of favorable regulations such as Article 10(4) of Directive 2001/83/EC by the European Medical Association (EMA) has clarified the clinical aspect of biosimilars. This standard set by EMA has attracted investors to invest into the development of biosimilars. The Asia-Pacific region projects the fastest growth rate, supplemented by the high prevalence of chronic diseases and the growing demand for economic bio-pharmaceuticals. The commercial scenario of biosimilars in North America is bleak due to the absence of regulations for approval and commercialization. However, after the launch of the first biosimilar in United States, the investors are now focusing on this region to boost their prospects.

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