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Biosimilars market has huge of CAGR of 49.1% during the forecast period 2020. 

06-04-2019 07:11 PM CET | Health & Medicine

Press release from: Allied Market Research

Biosimilars market

Biosimilars market

According to a new report published by Allied Market Research, titled, "World Biosimilars/Follow-On-Biologics - Market Opportunities, and Forecast, 2014-2020", the global Biosimilars/Follow-On-Biologics market is projected to grow at a CAGR of 49.1% from 2015 to 2020. Europe would continue to dominate the market while Asia Pacific would emerge as fastest growing region over the forecast period.

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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. However, the high investment associated with research and development, longer development processes and requirements of economies of scale for profitability largely limit the growth of biosimilars market. The integration of developmental plan with regulatory guidelines and the adoption of optimal commercial strategies would play crucial role in commercial growth of biosimilars market.

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

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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 favourable 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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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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