Biosimilars Market Share 2020, Research by Business Opportunities, Top Manufacturers and Global Forecast to 2025
Biosimilars Market is valued at USD 7.49 Billion in 2018 and expected to reach USD 34.39 Billion by 2025 with the CAGR of 24.32% over the forecast period.
Rising prevalence of chronic disease and
increasing geriatric population across the globe driving the biosimilars
market.
Scope of Biosimilars Market -
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.
Biosimilars 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
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.
The regions covered in this Biosimilars market report are North
America, Europe, Asia-Pacific and Rest of the World. On the basis of country
level, market of biosimilar is sub divided into U.S., Mexico, Canada, U.K.,
France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
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 –
By Product
Insulin, Recombinant human growth hormone (rhGH), Granulocyte
colony-stimulating factor, Interferon, Erythropoietin, Etanercept, Monoclonal
antibodies, Follitropin, Glucagon, Calcitonin, Teriparatide, Enoxaparin Sodium
By Indication
Offsite Treatment, Oncology, Chronic Disorder, Autoimmune Disease,
Blood Disorders, Infectious Disease, Other Diseases
Biosimilars Market Dynamics –
Increasing prevalence of chronic diseases including cancers,
diabetes, rheumatoid arthritis, CVDs, autoimmune diseases, kidney failure,
growth hormone deficiency, haematological diseases and infectious diseases
driving the growth of biosimilar market. For instance, as per the WHO, the
number of people with diabetes rose from 108 million in 1980 to 422 million in
2014 and in 2016, an estimated 1.6 million deaths were directly caused by
diabetes. Additionally, growing geriatric population is another major factor
identified to primarily drive the market for biosimilars. Moreover, increasing
investment on R&D and increasingly gaining preference over follo on
biologics, these all factors driving the growth of market.
About us: Brandessence Market
Research and Consulting Pvt. Ltd.
Brandessence market
research publishes market research reports & business insights produced by
highly qualified and experienced industry analysts. Our research reports are
available in a wide range of industry verticals including aviation, food &
beverage, healthcare, ICT, Construction, Chemicals, and lot more. Brand Essence
Market Research report will be best fit for senior executives, business
development managers, marketing managers, consultants, CEOs, CIOs, COOs, and
Directors, governments, agencies, organizations, and Ph.D. Students. We have a
delivery center in Pune, India and our sales office is in London.
Contact us at: +44-2038074155
or mail us at sales@brandessenceresearch.com
Comments
Post a Comment