Biosimilars Market Size, Business Revenue Forecast, Leading Competitors and Growth Trends
Biosimilars is a biological medical product which are
identical copy of the original medical product manufacture by different
companies. Biosimilars product is the fastest growing market in the United
States owing to increasing interest of manufacturer for in this market.
Biosimilars
Market is expected to register a CAGR of 7.5% during the forecast period of
2019 to 2025, It is an approved process and normally manufactured when the original
product's patent expires. According to Food and Drug Administration, in 2015,
FDA approved Inflectra (infliximab-dyyb) for multiple indications. Inflectra is
administered by intravenous infusion. This is the second biosimilar approved by
the FDA.
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Global Biosimilars Market –Major Key Players
Pfizer Inc. (U.S.), Teva Pharmaceuticals Industries Ltd.
(Israel), Sandoz International GmbH (Germany), Celltrion, Inc. (South Korea),
Astra Zeneca (UK), Amgen Inc. (U.S.), F.
Hoffmann-La Roche Ltd. (Switzerland), Biocon Ltd. (India), Dr. Reddy’s
Laboratories Ltd. (India), Novartis (Switzerland), Accord Healthcare (UK), Eli
Lilly (US) and Samsung Bioepis (South Korea) are some of the leading players at
the cutting edge of the competition in the market of biosimilars, globally.
Global Biosimilars Market – Overview
The global biosimilars market is rising with a swift phase;
mainly owing to enhanced productivity and clinical trial activities for
biosimilars and increasing demand for the cheap medical products. There are
many recently development due to the expiry of patient of original drugs. In
2015, The U.S. Food and Drug Administration approved Erelzi, (etanercept-szzs)
for multiple inflammatory diseases. Erelzi is a biosimilar to Enbrel
(etanercept), which was originally licensed in 1998 and in 2016, FDA approved Amjevita
(adalimumab-atto) as a biosimilar to Humira (adalimumab) for multiple
inflammatory diseases.
Companies are continuously invent new products to capture
the market globally. Thus major players invest more in research and development
activity, in order to lead the global market. In this regards, Pfizer Inc., in
2016 announced that it has acquired Bamboo Therapeutics, Inc., in order to lead
the market. This acquisition combines the technology and research &
development and enhance potentially life-changing therapies. PF-05280014,
PF-05280586 and PF-06410293 are under biosimilars clinical trials. It is third
largest contributor for biosimilars market. Also In 2016, Teva and Celltrion
announce exclusive biosimilar commercial partnership. Teva Pharmaceutical share
around 20 % of total global biosimilars market.
Sandoz International GmbH, is the global leader in
biosimilars. This company shares 11 % of total global biosimilars market.
Increasing need of the better treatment and rising investment and funds for
research and development have driven the global market. Moreover companies from
developed region are majorly focus in export the drugs to emerging market of
Asia Pacific region, As countries from these region have more focus to avail
effective treatment at reasonable rate.
Global Biosimilars Market
- Regional Analysis
Europe has dominating market for the biosimilars market
owing to presence of huge patient population and also major player of Germany,
France who have more focused in exporting the drugs to developing region of
Asia Pacific. Furthermore Increasing prevalence of diseases and rising
geriatric population has led to grow this market in Europe.
Recently in 2017, The U.S. Food and Drug Administration
approved first biosimilar for the treatment of cancer, Mvasi (bevacizumab-awwb)
as a biosimilar to Avastin (bevacizumab) for the treatment of multiple types of
cancer.
The Americas has second leading market for biosimilars
players, owing to present of huge population affected with disease. According
to Centers for Disease Control and Prevention (CDC), in 2014, seven of the top
ten causes of death were chronic diseases that are heart disease and cancer.
The main causes for these diseases are smoking and alcohol, whereas report
published by Centers for Disease Control and Prevention (CDC) suggest, around
36.5 million adults in the United States said they currently smoked cigarettes,
cigarette smoking accounts for more than 480,000 deaths each year.
Asia Pacific and the Middle East and Africa region are
considering the huge market. Whereas country like India and china of Asia
Pacific region are considering fastest growing region due to presence of huge
population effected with chronic disease, additionally they are open to adopt
drugs at lower cost. Japan is well developed country and have well established
healthcare system and technology, whereas developing countries are still
focusing on biosimilars drugs for the treatment, this gap between the developed
and developing countries will present significant growth and opportunity for
the biosimilars market players to enhance the revenue and market share in the
coming years.
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