The growth of the biosimilars market can be attributed to factors such as the increasing demand for biosimilar drugs due to their cost-effectiveness and rising incidence of chronic diseases, which have led to wide-scale adoption of these products worldwide. To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. For instance, PlantForm Corporationhas signed an agreement with the University of Guelph Canada to enhance research studies in the field of biosimilars and develop new ones.
Market Industry Reports (MIR) has published a new report titled “Biosimilars Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Biosimilars market was estimated to be over US$ 4,500 Mn in 2018. It is anticipated to grow at a CAGR of 31.4% from 2019 to 2030.
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Some of the prominent players in the Biosimilars Market include:
Pfizer, Sandoz International, Teva Pharmaceuticals, Amgen, Biocon, Dr. Reddy’s Laboratories, Celltrion, Samsung Biologics, Stada Arzneimittel AG and Mylan
Over the years, the rise in demand of biosimilars has played a vital role in contributing to the growth of the global biosimilars industry. The high demand for biosimilars is attributed to their greater effectiveness and lower cost than other alternatives. Several countries, including Europe, North America, India, and other developing countries, have emerged as essential contributors to global biosimilars industry. While generic drugs have a profit margin potential of 20%, the biosimilars products is anticipated to gain a potential profit margin of 30%. Moreover, cost of treatment by innovator drug is much higher than that by biosimilars, which has also contributed effectively to the growing demand of these products.
The Biosimilars Market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.
By Product (Recombinant Glycosylated Proteins (Monoclonal Antibodies (Rituximab, Adalimumab, and Infliximab), Erythropoietin, and Follitropin), Recombinant Non-Glycosylated Proteins (Insulin, Granulocyte Colony Stimulating Factor, Recombinant Human Growth Hormone and Interferon (Interferon-Alpha and Interferon-Beta)), Recombinant Peptides (Glucagon and Calcitonin)), Type of Manufacturing (In-house Manufacturing, and Contract Manufacturing), Disease (Chronic Disease, Oncology, Autoimmune Disease, Blood disorders, Infectious Diseases, and Growth Hormone Deficiency)
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Table of Contents
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
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