The latest market report published by Credence Research, Ltd. “Global Biosimilars Market – Growth, Share, Opportunities, Pipeline Analysis, Competitive Analysis, and Forecast, 2017 – 2025,” the Biosimilars market was valued at US$ 3.52 Bn in 2016, and is expected to reach US$ 25.83 Bn by 2025, expanding at a CAGR of 23.1% from 2017 to 2025.
Browse the full report Biosimilars Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025 report at http://www.credenceresearch.com/report/biosimilars-treatment-market
Biosimilars are the products approved in a country which has an abbreviated approval process for biologic products that refer to an originator biologic in the regulatory submission. Biosimilars possess similar clinical properties like safety, potency and purity as compared to the original biological product. The currently available biosimilars treatment segment are by product and application. The product segment comprises of recombinant non-glycosylated proteins (Insulin, Filgastrim, Somatropin) recombinant glycosylated proteins (Monoclonal antibodies, Erythropoietin) and recombinant peptides (Glucagon, Calcitonin).The application segment comprises of oncology, chronic and autoimmune disease, blood disorders, growth hormone disease and infectious disease. The key factors assisting the growth of biosimilars are the increasing prevalence of chronic disease, rising aging population, patient inclination towards reduced healthcare expenditure and government initiatives to promote biosimilars for e.g. Europe Medicines Agency (EMA) has finalized the guidelines on biosimilars with its elements described in ICH (Q5E). On the other hand, high complexities involved in the manufacturing of biosimilars and the rigorous regulatory framework governing their approval in countries around the world are hindering the market growth of biosimilars.
Pipeline of biosimilar market comprises of (recombinant non-glycosylated proteins, recombinant glycosylated proteins and recombinant peptides). Samsung Bioepis (SB4, SB2, SB5, SB9), Sandoz (GP2015, LA-EP2006, HX575), Amgen (ABP 501, ABP 980, ABP 215), Momenta (M923, M834) etc. We have estimated sales of very specific molecules based on the above mentioned type, disease prevalence, sponsor, depicted peak sales by leading market experts and other factors.
Key Market Movements:
- Rising prevalence of cancer and chronic disease in developed and developing countries
- Increasing geriatric population and high public awareness in developed countries is expected to boost the biosimilars market
- Expiry of patents of biologicals coupled with government initiatives to promote biosimilars
- Increased patient inclination towards cost effective healthcare solutions