Biosimilars Market 2021 Leading Countries, Challenges, Five Forces Analysis, Trends, Drivers, Forecast to 2027

Biosimilars market was valued at $2,552.0 million in 2014 and is expected to reach $26,551.3 million by 2027, supported by a CAGR of 49.1% during the forecast period 2015 to 2027.

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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.

COVID-19 Scenario Analysis:

• Global Corneal Pachymetry Market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for the market.

• Global factories have struggled to integrate new products as workers have stayed in their homes, which disrupted the global supply chains.

• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for hybrid chips are gradually going to increase.

• This COVID-19 lockdown would help companies think about more advanced Market to enhance efficiency.

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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 2027

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.

Regional Analysis:

The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.

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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