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Biosimilars Market Analysis By Product, Interferons, Human Growth Hormone, Recombinant Glycosylated Proteins - Erythropoietin, Monoclonal Antibodies, Follitropin) & By Application And Segment Forecasts To 2024

Biosimilars Market Analysis By Product, Interferons, Human Growth Hormone, Recombinant Glycosylated Proteins - Erythropoietin, Monoclonal Antibodies, Follitropin) & By Application And Segment Forecasts To 2024

  • June 2016
  • 92 pages
  • ID: 5068599

Summary

Table of Contents

Biosimilars Market Analysis By Product (Recombinant Non-Glycosylated Proteins - Insulin, Granulocyte Colony-Stimulating Factor (G-CSF), Interferons, Human Growth Hormone, Recombinant Glycosylated Proteins - Erythropoietin, Monoclonal Antibodies, Follitropin) & By Application (Oncology, Blood Disorders, Growth Hormone Deficiency, Chronic & Autoimmune Disorders) And Segment Forecasts To 2024

The biosimilars market is expected to reach USD 41.7 billion by 2024, according to a new report by Grand View Research, Inc.

The global biosimilars market is anticipated to witness a marked growth during the period of 2016 to 2024. The most significant factor leading to the growth of this industry is the fact that major biological drugs are nearing the patent cliff. Further, the lower cost of these drugs as compared to the patented biologics, the increasing encumbrance to cut down healthcare costs across the medical systems in the world, and the favorable clinical outcomes demonstrated through clinical trials for the biosimilar drugs is expected to boost the industry.

For the purpose of this study, the major countries considered are the U.S., Canada, the UK, Germany, India, China, Brazil, and Russia. It was estimated that in 2015, Europe accounted for the largest market share of the global biosimilars market, followed by Asia Pacific.

The industry is segmented on the basis of type of products and applications. With regard to the product type, the recombinant non-glycosylated segment is projected to flourish rapidly during the study period. On the other hand, the recombinant glycosylated proteins segment is estimated to grow at a significant CAGR during the period 2015 to 2024 due to the increasing, wide spread incidence of cancer cases (24 million by 2035), which is identified as the crucial factor driving the growth of this sector.

Further key findings from the study suggest:
North America is anticipated to be the fastest growing market during the forecast period. The biosimilars market has gained significant momentum in the U.S., presenting new opportunities for R&D and the manufacturing sector of biosimilars.

The European market is the most advanced one as it has been the first to formulate a regulatory pathway and adopt the use of biosimilars for more than 8 years now. Germany accounts for the maximum share in the biosimilars industry, followed by the rest of the European countries (UK, France, Spain, and Italy).

The Asia Pacific market is expected to witness a lucrative growth during the period 2015 to 2024. India and China are the key countries identified that are expected to lead the industry growth in the study period.

The market for oncology is estimated to soar at a rapid pace in accordance with the increasing incidence of cancer cases in the world. Additionally, the demand for cost-effective cancer treatments is expected to further fuel the industry growth.

The biosimilars market comprises several local as well as global players. Some major players of this market include Amgen, Inc., Beacon Ltd., Tea Pharmaceutical Industries Ltd., Merck & Co., Milan, Inc., Dr. Reddy’s Laboratories, Inc., Sandoz, Inc., and Celltrion Healthcare Co., Ltd.

Grand View Research has segmented the global biosimilars market on the basis of end-user, application, and region:

Biosimilars Market, by Product (Revenue, USD Million, 2013 - 2024)

Recombinant Non-Glycosylated Proteins

Insulin

Human Growth Hormones

Granulocyte Colony-stimulating Factor (G-CSF)

Interferons

Recombinant Glycosylated Proteins

Erythropoietin

Monoclonal Antibodies

Follitropin

Biosimilars Market, by Application (Revenue, USD Million, 2013 - 2024)

Oncology

Blood Disorders

Growth Hormone Deficiency

Chronic and Autoimmune Disorders

Others

Biosimilars Market, by Region (Revenue, USD Million, 2013 - 2024)

North America

U.S.

Canada

Europe

UK

Germany

Asia Pacific

China

India

Rest of the World

Brazil

Russia

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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