Market Research Future (MRFR) postulates that the global biosimilars market Size is expected to register a CAGR of 7.5% during the forecast period of 2019 to 2025, with a market value of USD 13,460 Million in 2018.
Biosimilars Market Research Report: By Product (Recombinant Non-Glycosylated Proteins (Human Growth Hormone [RHGH], Granulocyte Colony-Stimulating Factor [Filgrastim], Insulin and Interferons), Recombinant Glycosylated Proteins (Erythropoietin [EPO], Monoclonal Antibodies [MABS] and Follitropin) and Recombinant Peptides [Glucagon and Calcitonin]), by Applications (Oncology, Chronic Diseases, Autoimmune Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases) by End-users (Hospitals and Clinics, Research Institutes) – Global Forecast till 2025
The augmenting incidences of several chronic diseases are estimated to favor the market growth. Biosimilars are referred to as a biological medical product which are identical copies of the original medical product. They are generally derived from a plant, bacteria, yeast, and other several processes. Biosimilars are neither generics nor treated like generic drugs. Also acknowledged as bio-pharmaceuticals, biosimilars differ from generics in the manufacturing process. They are produced by two main processes, recombinant DNA technology and controlled gene expression.
Biosimilars Market Boosters
With the augmenting incidences of several chronic diseases, growing demand for cheap medical products, and strategic collaborations leading to clinical trials and enhanced productivity, the global biosimilars market is estimated to flourish throughout the appraisal period. Biosimilars are extensively used in the treatment and prevention of chronic diseases like cancer, diabetes, autoimmune disease, cardiovascular diseases (CVDs), kidney failure, rheumatoid arthritis, hematological disease, hormone growth deficiency, and infectious disease. This is likely to create momentum to the market growth during the estimated period. Also, with the growth in the geriatric population, the demand for biosimilars is expected to trigger.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/1329
Biosimilars are constantly gaining prominence over other conventional biologics due to lesser cost as compared to the parent biological drugs. Moreover, different private and government bodies are promoting the use of biosimilars over synthetic drugs and conventional biologics, which is further propelling the growth of the market across the globe. Also, with the rapid growth in the pharmaceutical sector combined with the high cost of existing biological drugs, the market is anticipated to boom.
On the contrary, physician skepticism coupled with the lack of awareness regarding biosimilars is some of the top barriers likely to vitiate the market growth in the coming years. Additionally, complexity and high manufacturing cost can act as roadblocks to the mainstream production of biosimilars. Despite such hiccups, discounted prices of biosimilars will impact the overall biosimilar sales, as patients are the key beneficiaries.
The prominent players operating the global biosimilars market are Biocon Ltd. (India), Eli Lilly (U.S.), Novartis (Switzerland), Celltrion Inc. (South Korea), Dr. Reddy’s Laboratories Ltd. (India), Pfizer Inc. (U.S.), Teva Pharmaceuticals Industries Ltd. (Israel), Sandoz International GmbH (Germany), Astra Zeneca (U.K.), Amgen Inc. (U.S.), Samsung Bioepis (South Korea), F. Hoffmann-La Roche Ltd. (Switzerland), and Accord Healthcare (U.K.).
Latest Industry News
February 19, 2019: Sandoz, a developer of biosimilar has recently announced the launch of their biosimilar adalimumab, Hyrimoz, in Spain. This biosimilar, referencing Humira, was authorized in the European Union for sale in July 2018. It has been approved for indications of reference adalimumab and is available in 40 mg doses for subcutaneous injection in pre-filled pen or a syringe form.
Geographically, the biosimilars market span across regions namely, Europe, Asia Pacific, North America, and the Middle East & Africa.
Among all the regions, the European region is likely to dominate the global biosimilars market and is estimated to retain its dominance in the coming years. The growth is credited to the rising prevalence of diseases coupled with the growth in the geriatric population in this region. Moreover, advanced medical research and technological advancements are further triggering the demand for biosimilars in this region. The growth in the regional market is likely to be stimulated by patent expiry of biologic products combined with the launch of new biosimilars and the advent of new market participants.
The North American region is predicted to occupy the second largest share in the global market owing to technological advancements and extensive medical research. The market is mainly driven by the presence of large research labs such as Amgen, Sandoz, Teva Pharmaceutical, and others.
The Asia Pacific region is anticipated to emerge as the fastest-growing region owing to the immense economic development coupled with the booming biotechnology companies in this region. The country-specific markets in this region generating maximum revenue are India, Australia, South Korea, Japan, and China.
The global biosimilars market has been segmented on the basis of product, application, and manufacturing.
By mode of product, the global biosimilars market has been segmented into recombinant non-glycosylated proteins, recombinant glycosylated proteins, and others. Among these, the recombinant glycosylated proteins segment is anticipated to occupy the largest share and is likely to retain its dominance. The growth is credited to the wide therapeutic area of such proteins coupled with the presence biosimilar version of monoclonal antibodies at much lower rates.
By mode of application, the global biosimilars market has been segmented into oncology, immune diseases, blood-related disorders, and others.
By mode of manufacturing, the global biosimilars market has been segmented into contract manufacturing and in-house manufacturing. Among these, the in-house manufacturing is presumed to occupy the largest share owing to the rising demand for cost-effective biosimilar products due to the augmenting incidences of several chronic diseases.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
Browse Complete Report @ https://www.marketresearchfuture.com/reports/biosimilars-market-1329
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Statistical Report, Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Hadapsar, Pune – 411028
Phone: +1 646 845 9312