Global Biosimilars Market Snapshot by 2021

Biosimilar drugs are generic form of biological drugs. Biological drugs have witnessed phenomenal market growth in the past owing to their efficiency in treating certain cancer types and lesser effects. Considering the success of these drugs, various pharmaceutical companies have concentrated on manufacturing generic biological drugs. Biological drugs are manufactured using living organisms and have complex structure. These drugs are over 1,000 times larger as compared to average small molecules. Hence biosimilars are difficult to manufacture. Minute alterations in environment and physiological conditions may result in variations molecular structure of biosimilar drugs. This makes regulatory approval more challenging and capital intensive. Due to this, fewer companies having technological expertise have ventured in biosimilars market.

Being technology driven, frequent mergers, acquisitions, and strategic agreements are witnessed in the biosimilars market for rapid inorganic growth. Pfizer entered into one of the major deals in the pharmaceutical sector for the acquisition of Hospira. With the acquisition, Pfizer is now a leading manufacturer of biosimilar drugs. In 2016, Sandoz strengthened its biosimilars portfolio with the acquisition of Pfizer's biosimilar infliximab in European Economic Area (EEA). In 2017, Aurobindo Pharma entered into an agreement with Swiss firm TL Biopharmaceutical AG for purchase of four biosimilar drugs.

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Increasing cancer prevalence and simultaneous rise in demand for targeted drugs has fueled the cancer therapeutics market. National Cancer Institute, U.S. estimates over 1.68 million new cancer cases diagnosed in the U.S. in 21016. In U.K. 0.35 million new cancer cases were recorded according to Cancer Research U.K. Globally more than 8 million patients die due to cancer. Due to lack to data, accurate prevalence of cancer unknown in Africa; however it is estimated that 1.2 million new cases would be registered by 2030. Cancers with highest prevalence include lung cancer, breast cancer, colorectal cancer, prostate cancer, stomach cancer, liver cancer and cervical cancer in same order. High price of biological branded drugs has been a key restraint for the market to grow in low and middle income countries. Entry of biosimilar drugs is expected to make immunotherapy drugs accessible to developing countries income, thus driving the biosimilars market.

Humira, Rituxan, Herceptin, Remicade, Avastin, Enbrel, Erbitux, Lantus, Lucentis, Epogen, Neupogen and Neulasta are some of the major drugs targeted by biosimilar drug manufacturers. Strong phase 3 pipeline ensures rapid growth for the overall biosimilars market. Key players in the biosimilars market include Amgen, Pfizer, Mylan, Sandoz, Samsung Bioepis, Actavis, Biocon, Merck, Roche and various others.

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