Biosimilars Market Trend Revelation Unwrapping the Dazzling Secrets of Global Markets | CAGR of 49.1%

Global biosimilars/follow-on-biologics market accounted for an overall revenue of $2,552.0 million in 2014 and it is estimated to generate an approximate revenue of $26,551.3 million by 2020, registering a CAGR of 49.1% from 2015 to 2020. The lack of economies of scale for small scale manufacturers and absence of regulatory guidelines in lucrative regions such as China, US are hindering the growth of biosimilars market. However, strong government initiatives pertaining to production and approval is a key factor that would eventually reduce the impact of these restraints over the forecast period. Biosimilars or follow-on-biologics are highly similar versions of reference biologics derived from living organisms such as plants and animals. The development of biosimilars and validation with reference biologics play a significant role in the commercialization of biosimilars.

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Economic pricing of biosimilars, ease in development and a quick approval process are some key driving factors that drive the growth of this market. Effective and timely formulated regulations facilitate the viability and balance between original and biosimilar products. Moreover, a favorable regulatory environment and the establishment of IPR protections are factors that boost the market growth. The upcoming patent expiration for blockbuster drugs has revolutionized the aspect of commercialization whilst triggering a large scale adoption of biosimilars. Biosimilars industry is facing problems relating to production efficiency and quantity.

The product segment in the biosimilars market comprises of Human Growth Hormone, Erythropoietin, Monoclonal Antibodies, Insulin, Interferon, Colony Stimulating Factors and others. Biosimilars erythropoietin is the highest revenue generating biosimilars drug candidate owing to its high approval rate for commercialization. Interferon biosimilars are the fastest growing drugs in the biosimilars market. This growth is supplemented by the use of interferon biosimilars across a wide range of applications. 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. However, biosimilars applications in autoimmune and chronic diseases exhibit the highest potential due to the changing off patent scenario.

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. Collaboration with local players is a key opportunity for biosimilars in developing economies. Many companies such as, Amgen and Novartis are collaborating with Asian players to reach to the depth of the biopharmaceutical market. The absence of effective regulatory guidelines for product approval and commercialization limit the growth of the biosimilars market in North America. However, recent draft published by US FDA has approved first biosimilar in United States. This would eventually standardized the procedure of approval and commercialization of biosimilars in United States.

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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).

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

Key highlights of the report include

Market Size and Growth Analysis:

Detailed examination of the market size and growth trajectory during the forecast period.
In-depth insights into the factors driving market expansion and the challenges restraining growth.
Accurate revenue projections and trends shaping the market landscape.

Strategic Analysis:

Identification of key drivers influencing market growth and strategic recommendations to leverage emerging opportunities.
Exploration of market trends and future prospects to aid in informed decision-making.
Strategies for market players to capitalize on growth areas and navigate challenges effectively.

Competitive Landscape Evaluation:

Comprehensive profiles of industry leaders, offering a thorough understanding of their market presence and influence.
Analysis of market share held by key companies and their impact on the overall market dynamics.
Assessment of the product portfolios of major players, highlighting key offerings and innovations.

Recent Developments and Innovations:

Coverage of the latest advancements and innovations within the industry.
Insightful examination of recent developments by key market players, including product launches, partnerships, and acquisitions.
Evaluation of the impact of these developments on the overall market landscape.

Competitive Strategies:

Examination of the competitive strategies employed by leading companies to gain a competitive edge.
Analysis of successful tactics utilized in the market, providing valuable insights for other players.
Benchmarking of competitive strategies to help businesses formulate effective plans for sustainable

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Key Benefits

This report provides a detailed analysis of drivers and factors that limit the market expansion

The report provides a financial 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

Use of 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

Key Deliverables

Global biosimilars/follow-on-biologics market is categorized into product types, applications and geography.

MARKET BY TYPES

Human growth hormone

Erythropoietin

Monoclonal antibodies

Insulin

Interferon

Granulocyte-Colony Stimulating Factor

Peptide

Others

MARKET BY APPLICATIONS

Blood disorders

Oncology diseases

Chronic and autoimmune diseases

Growth hormone deficiencies

Others

MARKET BY GEOGRAPHY

North America

Europe

Asia-Pacific

LAMEA

Table of Content:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix

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In this report, the following important queries are addressed:

What is the Global market's sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
What are the vendors' market prospects and risks in the international industry?
Which product types, end users, or applications might be looking for additional growth prospects? What is each type's and application's market share?
What specific strategies and limitations are keeping the market in check?
What is the various marketing, sales, and distribution channels in the international market?
What are the upstream raw materials, as well as the manufacturing machinery?
What are the Market opportunities, market risk, and market overview of this industry?

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