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Biosimilars Market Overview by Business Manufactures with Forecast Analysis with Key Players Novartis, Synthon Pharmaceuticals, Teva Pharmaceutical Industries Ltd., LG Life Sciences, Celltrion, Biocon and More

02-18-2019 11:11 AM CET | Health & Medicine

Press release from: Allied Market Research

Biosimilars Market

Biosimilars Market

Global biosimilars market was valued at $2,552.0 million in 2014 and is expected to reach $26,551.3 million by 2020, supported by a CAGR of 49.1% during the forecast period 2015 to 2020. Biosimilars or follow-on-biologics are the “copied” and licensed versions of those reference biologics that have undergone patent expiration.

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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Biosimilars development and validation with reference biologics is a crucial aspect of the overall development process. Regulations for biosimilars play a vital role in maintaining the viability and balance between original and biosimilars products. Various regulatory authorities such as EMA and FDA actively regulate the biosimilars commercialization and development.
The market is driven by factors such rising prevalence of chronic diseases such as cancer and diabetes supplement the growing demands of pharmaceutical drugs, especially for the high priced patented drugs.

However, the market growth is limited by the high cost of reference products increases the financial burden on patients as well as reimbursement service providers. The lack in economies of scale due to lower demand is a factor that results in these high costs.

Furthermore, the growth of the biosimilars market is hampered due to the lack of regulatory guidelines, consumers brand preferences, reluctance of physicians to prescribed biosimilars and the high capital required for research and development. Countries from the European Union presently dominate the market owing to the favorable government regulations in this region. North America biosimilars market is currently witnessing restrictions due to the flexible and ineffective regulations.

Segment review

The product segment in the biosimilars market comprises of Human Growth Hormone, Erythropoietin, Monoclonal Antibodies, Insulin, Interferon, Colony Stimulating Factors and others. The biosimilars applications market is segmented into blood disorders, oncology diseases, chronic and autoimmune diseases and growth hormone deficiency. The application of biosimilars in blood disease treatment is the highest revenue generating segment owing to the high-priced reference biologics and frequent application.
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However, biosimilars applications in autoimmune and chronic diseases exhibit the highest potential due to the changing off patent scenario. Biopharmaceutical industry is vastly dependent on the advanced technologies used in various procedures of development and manufacturing. These technologies are acting as a mandate for every single operation in biopharmaceutical and healthcare research industry.

Some of the significant technologies are discussed in the report includes, Monoclonal Antibodies (MAb) Technology, Recombinant DNA Technology (rDNA technology), Nuclear magnetic resonance (NMR) technology, Chromatography, Electrophoresis, Mass Spectrometry, Western Blotting and Bioassay. Monoclonal antibody technology and bioassay technologies are the most significant technologies used in biosimilar development and validation.

Based on geography, the biosimilars market is segmented across North America, Europe, Asia-Pacific and LAMEA. Asia Pacific and LAMEA exhibit a large scale demand for biosimilars due to the growing prevalence of chronic diseases in these regions

The Global biosimilars products market is segmented into Human growth hormone, Erythropoietin, Monoclonal antibodies, Insulin, Interferon, G-CSF, peptide and other biosimilars. Patent expiration is a key factor that largely influences the biosimilars market. Most of the blockbuster patents would expire by the end of 2014; a factor that would provide competitive advantage to local pharmaceutical manufacturers over global players.

Biosimilars/follow-on-biologics Market Key Benefits

• This report provides a detailed analysis of drivers and factors that limit the market expansion.
• The report provides market forecast for the next eight years by considering the 2014 as the base year for evaluation.
• Comprehensive and quantitative data about changing market trends, competition and opportunities in biosimilars market are provided in the report.
• Porters Five Forces model and SWOT analysis would help stakeholders in making strategic decisions.
• Deep dive analysis of leading market players and their key strategies, helps in better understanding the market dynamics.
• Identification of key investment pockets in the biosimilars market would help the stakeholders in making informed decisions.

About us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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