The Report “Biosimilars Market: By Product (Recombinant Glycosated Proteins and Others) Technology (mAbs, Chromatography, Mass Spectroscopy and Others); By Application (Blood & Oncology Diseases, Chronic Diseases and Others); By Geography-Forecast (2016 - 2021)”, published by IndustryARC.

Browse Market Tables, Figures spread through 152 slides and an in-depth TOC on “Biosimilars Market (2016 - 2021)".

http://www.industryarc.com/Report/10593/biosimilars-market.html

Biosimilars are biologic inventions that are analogous but not the same as the original reference biologic products. Initial biologics like insulin and growth hormones have been helpful in the healing of severe illnesses like anemia, diabetes and other diseases. Unlike the biologics, biosimilars are articulated in living cells which brings flexibility in the properties of the biosimilars. The Biosimilars market report is a comprehensive study of the market for different technologies, product types, applications and geography. The global market size is estimated to reach $11.12 billion by 2021 growing at a CAGR of around 27.9% during the forecast period of 2016 and 2021.

The market is mainly driven by rising demand from patients who do not have access and cannot afford exorbitantly priced biologics. Along with this, there is a constant growing demand from various governments for development of their domestic pharmaceutical industries. Mounting demand for curing chronic diseases coupled with blood, oncology and hormonal diseases are set to bring an upsurge in the biosimilars market.

Rising need for affordable biologics and balanced solutions combined with changes in regulations of contemporary times are amassing the influence of biosimilars in various segments of health care industry. Developed markets like the U.S. and Europe, deliver short-term development prospects for biosimilars, assisted by governments which are dispensing approvals in terms of regulatory frameworks, along with providers and payers, who are set to push the uptake of biosimilars for cost containment.

Recombinant Glycosylated Protein dominated the market with the largest share and generated revenue of $1.43 billion in 2015. On the other hand, the same trend has been followed by recombinant non-glycosylated proteins which held a share of 33%. The majority of biosimilars are now being developed with the help of Recombinant DNA technology. The emphasis on recombinant glycosylated proteins has amplified considerably owing to the development of mAbs (monoclonal antibodies) which are considered to be, by far the best innovation utilized for the treatment and cure of cancer.

The global market for biosimilars is dominated by European region, which is poised to remain the largest market in 2021 as well. The fastest growth is however attributed to the American region which is anticipated to grow at a CAGR of nearly 33% during the forecast period. With respect to Europe, Germany by far has been the most progressive nation in educating and incentivizing physicians to drive the demand for biosimilars. The important thing to understand is that biosimilars provide better access as it improves the prospects for treatment option, not just for the patients, but physicians and payers as well.

There is big room for biosimilars to grow with large untapped potential. The healthcare savings can be reutilized or channeled back into the system to improve the healthcare processes. On the pharmaceutical front, innovation is only going to better the patient outcomes and that is the sole purpose of biosimilars. The number of manufacturers across the world for Biosimilars has increased manifold. These manufacturers are vigorously exploiting in surmounting their position in the market and are able to entice profitable deals.

Some of the major players are:
Novartis International AG
Hospira Inc.
Celltrion Pharma Inc.
Biocon Limited
Teva Pharmaceutical Industries Ltd.

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Biosimilar is a biological product that resembles a reference product and is not difference from the already approved reference product. These are relatively cheaper than branded or approved products. Several biologics for oncology have already lost their patents, and some are in its period of expiry. As more products are expected to lose patents, biosimilar is expected to gain popularity. Leading generic players such as Mylan N.V., Teva Pharmaceutical Industries Ltd, Allergan Plc, Sandoz (a Novartis International AG’s division) are expected to capitalize on these patent expiries and may establish themselves as dominating players in oncology biosimilars market.

Click To Continue Reading on Oncology Biosimilars Market

There was about a decade gap in approval of first biosimilars in two key markets, Europe and the U.S. First biosimilar was approved in 2006 in Europe, however, in the U.S. first product was approved in 2015. But since approving the first biosimilar, the FDA has approved five products in 2017. Out of these five biosimilars, two were approved for oncology. First, oncology biosimilar Mvasi (bevacizumab-awwb) received approval in September 2017, and second one, Ogivri (trastuzumab) was approved in December 2017. In Europe, both of the products have been approved, and Mvasi received approval from European Commission in January 2018.

Moreover, there are number of biosimilar application pending in the U.S. and Europe. For Herceptin (trastuzumab) alone, there are around four application pending in the FDA. These four application are from Amgen and Allergan, Celltrion and Teva, Pfizer, and Samsung Bioepis. Recent approval of products, and potential approval in next few years is expected to boost the market growth over the forecast period.

On the basis of region, oncology biosimilars market by Coherent Market Insights is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be the dominant market over the forecast period. U.S. FDA approved first biosimilar in 2015, almost a decade later than first biosimilar approval in Europe. However, since 2015, the number of approved products has increased rapidly. This is expected to be factor for growth of the market in North America. Moreover, currently there are number of products in pipeline, which may receive approval from the FDA over the forecast period. For instance, Pfizer Inc. — a U.S.-based company — has three biosimilar products (i.e. PF-05280014, PF-05280586 and PF-06439535) for oncology in Phase 3.

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Key Vendors:

Amgen Inc., Allergan, Plc, Mylan N.V., Samsung Bioepis Co., Ltd., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Celltrion Healthcare, Novartis International AG, Biogen Idec, Inc., and Biocon Limited.

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