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Global Biosimilars Market

Global Biosimilars Market

  • March 2018
  • 142 pages
  • ID: 5023809

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The global biosimilar market was estimated to be valued at USD 3,474.01 million in 2017, and is expected to register a CAGR of 43.85% during the forecast period of 2018-2023. North America accounted for the largest share of approximately 30% of the global market, in 2017, while Asia-Pacific region is anticipated to register the highest CAGR over the forecast period.

Upcoming Decade to Witness Patent Expiration of Several Biopharmaceuticals
In the recent past, several blockbuster biologic drugs of major pharmaceuticals companies, such as Remicade, Rituxan, Herceptin, Enbrel, Lantus, and others expired. In the coming decade, there would be a rise in the patent expiration of several existing biological drugs, such as Erbitux, Avastin, Orencia, and others, which would provide an opportunity for many innovator companies as well as generic manufacturers to offer services, specially tailored toward biosimilars. In addition, factors, such as cost effectiveness nature of biosimilars, rising acceptance and adoption by various stakeholders with the need of diversification in technology and business models, are expected to drive the global biosimilar market.

High Investments and Longer Timelines are needed
The development and manufacture of biosimilars are more complex compared to generics. A biosimilar takes around seven to eight years for its development, with high financial investments ranging between USD 100 million and USD 300 million, which are considerably much higher than the USD 1 million to USD 5 million for generic production.

In addition, the manufacturing complexity in each step involves a high degree of variability and hundreds of controlling input parameters, for safety and efficacy. At the same time, with factors, such as lack of definitive standards for approval and adequate profitability, given the greater risk with concerns regarding substitutability and interchangeability, many companies are discouraged from investing in this market, thus impeding the growth of the market studied.

North America to Dominate the Market’s Growth
The global biosimilar market has been segmented by product class and geography. By geography, it has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

North America accounted for the largest share, accounting for approximately 30% of the global market, in 2017. The North American segment of the market studied is majorly driven by the presence of many large research laboratories, such as Sandoz, Amgen, Teva Pharmaceutical, and others.

According to a recent report, more than 40 biosimilars are under development, including approximately 20 biosimilars ready to be released into the market, and a significant number of biosimilars are in the pipeline. Owing to the immense economic developments and booming biotechnology companies in the region, Asia-Pacific is also expected to record robust growth over the forecast period.

Key Developments in the Market
December 2017: Pfizer received the US FDA approval for infliximab biosimilar, for all eligible indications.
December 2017: Mylan received the US FDA approval for Ogivri, the first biosimilar for trastuzumab, co-developed with Biocon.
November 2017: Samsung Bioepis Co. Ltd received European Commission marketing approval for Ontruzant, a biosimilar for trastuzumab, for the treatment of breast cancer.
November 2017: Samsung Bioepis Co. Ltd received the approval for Samfenet, a biosimilar for Herceptin, to be sold in South Korea.
Major Players: Pfizer Inc., Eli Lilly and Company, Celltrion Healthcare, Mylan NV, Novartis AG, Samsung Bioepis Co. Ltd, Stada Arzneimittel AG, Teva Pharmaceutical Industries Ltd, Intas Pharmaceuticals Ltd, and LG Life Sciences, amongst others.

Reasons to Purchase this Report
Current and future biosimilar market outlook in the developed and emerging markets.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
The segment that is expected to dominate the market.
Regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).

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Please note: this report requires certain updates. We have all the information available but require 2 working days business days to complete the process and ensure it is as up-to-date as possible.


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