Biosimilars Market Growth CAGR of 24.32% Research Report by Brandessence Market Research | Global Trends, Business Opportunity, Development, Features, Value, Share, Size and Regional Forecast 2021 to 2027
Biosimilars Market is valued at USD 11.58 Billion in 2020 and expected to reach USD 53.13 Billion by 2027 with the CAGR of 24.32% over the forecast period.
Biosimilars is also referred as the follow-on biologics. Biosimilars are the biologic medical products which is highly similar to another already approved biological medicine which is available in the market. Biosimilar are the copied and licensed versions of those reference biologics products those have undergone patent expiration. Development and validation of biosimilars with reference biologics products are very crucial aspect of the overall development process. Biosimilars are approved as per the same standards of pharmaceutical quality, efficacy, safety that apply to all biological medicines.
However, biosimilars are differ from generics and are not treated as generics, as entire manufacturing process of biosimilar, right from the raw materials used in the manufacturing are different from generic products manufacturing. Similar to generic, biosimilar are the low-cost medicine and can be used in many treatment therapies including some of the most critical diseases like cancer, inflammatory bowel disease, anemia and autoimmune disorders including multiple sclerosis, psoriasis, rheumatoid arthritis, Crohn’s and among others.
Under solid legal framework, which is introduced in 2004 by European Union (EU), prepared dedicated route for the approval of biosimilars and hence in 2006, growth hormone somatropin got the first approval of EU as a biosimilar. Whereas, on March 6, 2015, Zarxio obtained the first approval of FDA for Sandoz's Zarxio is biosimilar to Amgen's Neupogen which was originally licensed in 1991.
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Market Top Companies:
Eli Lily & Company, Pfizer Inc., Sandoz International GMBH, Amgen, Inc., Hospira Inc., Actavis, Inc., Biocon Ltd., Cipla Ltd, Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Stada Arzneimittel Ag, Celltrion, Inc., Wockhardt Ltd, Mylan, Inc and Others.
True North has acquired about 3 per cent of Biocon Biologics India Ltd (BBIL):
News: On Jan 06, 2020, Biocon Biologics India Ltd is the wholly owned subsidiary of Biocon has announced the dilution of its share and sell its 3% share to True North for USD 100 million, by valuing the unlisted subsidiaries at around USD 3.5 billion. Biocon Biologics is formed in December 2017 to house all Biocon’s’ biologics business including biosimilars that include monoclonal antibodies, recombinant insulins and novel biologics. Biocon is the parent company of Biocon Biologics India Ltd, company aim to list Biocon Biologics in the next few years in similar fashion to its contract research arm Syngene.
Biosimilars Market Segmentation:
Recombinant human growth hormone (rhGH)
Granulocyte colony-stimulating factor
Other Monoclonal Antibodies
By Type of Manufacturing
Regional & Country Analysis: North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa.
Biosimilars Market Regional Analysis:
Europe is dominating the biosimilar market owing to early adaptation of biosimilars. For instance, European healthcare Agency is the pioneer in biosimilar, 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 and the first biosimilar was approved by the EU in 2006. However, North America stands after Europe, In the year of 2018, 11 biosimilars have been approved by Food and Drug Administration (FDA).
Asia Pacific is anticipated to grow at a highest CAGR over forecast period due to relatively lower manufacturing costs, skilled labor and less complicated regulatory measures present in the region. The biosimilars market is currently witnessing active growth in regions, including countries like China, India, and Japan. Upsurge in FDA approval in India and finalized the biosimilars guidelines confined to the market for biosimilars production, sale, and consumption across the region.
Table of Contents:
Report Overview: It includes major players of the global Biosimilars market covered in the research study, research scope, and market segments by type, market segments by application, years considered for the research study, and objectives of the report.
Global Growth Trends: This section focuses on industry trends where market drivers and top market trends are shed light upon. It also provides growth rates of key producers operating in the global Biosimilars market. Furthermore, it offers production and capacity analysis where marketing pricing trends, capacity, production, and production value of the global Biosimilars market are discussed.
Market Share by Manufacturers: Here, the report provides details about revenue by manufacturers, production and capacity by manufacturers, price by manufacturers, expansion plans, mergers and acquisitions, and products, market entry dates, distribution, and market areas of key manufacturers.
Market Size by Type: This section concentrates on product type segments where production value market share, price, and production market share by product type are discussed.
Market Size by Application: Besides an overview of the global Biosimilars market by application, it gives a study on the consumption in the global Biosimilars market by application.
Production by Region: Here, the production value growth rate, production growth rate, import and export, and key players of each regional market are provided.
Consumption by Region: This section provides information on the consumption in each regional market studied in the report. The consumption is discussed on the basis of country, application, and product type.
Company Profiles: Almost all leading players of the global Biosimilars market are profiled in this section. The analysts have provided information about their recent developments in the global Biosimilars market, products, revenue, production, business, and company.
Market Forecast by Production: The production and production value forecasts included in this section are for the global Biosimilars market as well as for key regional markets.
Market Forecast by Consumption: The consumption and consumption value forecasts included in this section are for the global Biosimilars market as well as for key regional markets.
Value Chain and Sales Analysis: It deeply analyzes customers, distributors, sales channels, and value chain of the global Biosimilars market.
Key Findings: This section gives a quick look at the important findings of the research study.
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