Healthcare

Global Biosimilars Market

March 26, 2020
ID: SR/HC-12
Format:Pdf
Pages:220

Global Biosimilars Market- By Product (Insulin, Interferon, Etanercept, Infliximab, Rituximab, Glucagon, Calcitonin), By Manufacturing (In-house, Contract), By Indication (Oncology, Chronic Disease, Blood Disorder, Autoimmune Disease)and By Region (North America, Europe, Asia Pacific, South America, Middle East, & Africa)- Global forecast from 2020-2027.

Description

Global Biosimilars market Overview

Biosimilars refer to a generic product with the same active ingredients as the original drug, with no significant differences in dosage, dosage form, route of administration, safety and effectiveness, quality, therapeutic effect, and indication. It has substantial economic and social benefits such as reducing medical expenditures, improving access to medicines, and improving medical services.

Global Biosimilars market Insights

The global biosimilar market expected to exceed the market growth at a substantial CAGR in the forecast period from 2020-2027. Driven by pharmaceutical companies, the global biosimilar market is in a fast-growing stage. The growth rate of biosimilars is much higher than that of first research biosimilars; thus, the market size will continue to maintain a rapid growth trend. The rising treatment penetration, cost-effectiveness, and faster approval of biosimilars are deriving market growth. Furthermore, the increase in the world’s total population, aging population, rising health awareness, and the change in the spectrum of diseases have made humans pay more and more attention to life and health. Continuous improvement of medical security systems, along with growing urbanization across various countries, is promoting the demand for biosimilars. Additionally, the expansion of the biosimilar market due to the expiry of patent medicines is the major driving forces for the growth of global pharmaceutical spending. Biosimilar drugs have the same active ingredients, dosage forms, routes of administration, and therapeutic effects as the original drugs, but the prices of biosimilars are relatively low, thus have significant economic and social benefits, which lead to reduced medical expenditures, improving drug accessibility, and medical service levels.

Growth Driver

Biosimilar treatment penetration increased

The demand for biosimilars continues to increase; the penetration rate of biopharmaceutical treatments has proliferated. Due to the advantages of better efficacy and lower side effects, biosimilars are rapidly growing in the field of immunological diseases and tumor treatment.

Cost effectiveness of biosimilars

Biosimilars are cost-effective as they replace the original drugs, and they continue to expand new market space. The cost of research and development of biosimilar drugs is only 1/4 of the original pill, and there is ample space for the price reduction. The research and development of innovative research biomedicine takes an average of 6-15 years and costs about 350-800 million US dollars. The development of biosimilars takes an average of 6-10 years and costs the US $ 120-200 million. Thus, biosimilar drugs have distinct price advantages, and further replacement of original research drugs is an inevitable trend in the future.

By Product Segmental Analysis

Based on the product, the global biosimilars market segmented into Insulin, Interferon, Etanercept, Infliximab, Rituximab, Glucagon, Calcitonin. The interferon segment has dominated the market of global biosimilars. With the advent of an aging society and people’s pursuit of chronic disease treatment and health, the demand for preventive medication such as vaccines and other biological products will be favorable. The burden of chronic diseases is rising, and the annual growth of anti-tumor drugs, diabetic drugs, arthritis drugs, antiviral drugs, vaccines, and other fields will be higher than the average growth level of the world drug market.

By Manufacturing Segmental Analysis

Based on the manufacturing, the global biosimilars market bifurcated into In-house, Contract. The in-house segment has bolstered the market share for the global Green biosimilars market. In-house production of biosimilars will helps in reducing the costs of overheads, delivery, and shipment. Also, in-house manufacturing will allow flexibility in operations and provide financial support with small manufactures of the biosimilar. A contract with the research development will help in saving money from overheads. Moreover, it will also improve accessibility and monitor every step of production.

By Indication segmental Analysis

Based on the indication, the global biosimilars market segmented into Oncology, Chronic Disease, Blood Disorder, Autoimmune Disease. The oncology segment will propel the market demand for the global biosimilar market. In the wake of the reduction of cost and fuel, the development of new treatment in the patient will help in fueling the demand for the global biosimilars market. As biosimilars are not a generic drug, it is highly similar to the active biological ingredients, but are less expensive. Thus, oncology will help in fueling the demand for the global biosimilars market.

Region Segmental Analysis

Based on geography, the global biosimilars market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The European region has dominated the demand for biosimilars in the global market. Owing to rising chronic diseases, the geriatric population will surge the need for the biosimilars market in the forecast period from 2020-2o27. Moreover, Asia Pacific will also emerge in the biosimilar market as with increasing disposable income, the government is investing in more and more research development for developing low-cost therapeutics and treatments to reduce the cases of breast cancer, and other chronic diseases.

Competitor Analysis

Companies such Pfizer, Sandoz, Biocon, Biogen, Fresenius Kabi AG, Boehringer Ingelheim, Merck KgaA, Mylan, Eli Lilly, Teva Pharmaceutical, Dr. Reddy’s Laboratories, Amgen, Celltrion, Samsung Biologics, Amega Biotech, mAbxience, Probiomed, Apotex, Chong Kun Dang, JCR Pharmaceuticals, Gan & Lee Pharmaceuticals, Gedeon Richter, Biocad, Coherus Bioscience, and Stada Arzneimittel AG and others are key players in the global biosimilars market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Biosimilars manufacturing companies
Research organizations and consulting companies
Organizations, associations, and alliances related to Biosimilars
Regulatory bodies

Scope of the report

Report Attribute	Details
Market size value in 2020	USD 13.54 billion
Revenue forecast in 2027	USD 59.27 billion
Growth Rate	CAGR of 23.7% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Pfizer, Sandoz, Dr. Reddy’s Laboratories, Amgen, Celltrion, Samsung Biologics, Amega Biotech, mAbxience, Biocon, Biogen, Fresenius Kabi AG, Boehringer Ingelheim, Probiomed, Apotex, Chong Kun Dang, JCR Pharmaceuticals, Gan & Lee Pharmaceuticals, Merck KgaA, Mylan, Eli Lilly, Teva Pharmaceutical, Gedeon Richter, Biocad, Coherus Bioscience, and Stada Arzneimittel AG and others

Recent Developments

In September 2021, Samsung Bioepis released positive 5-Year Follow-up results for Trastuzumab Biosimilar.
In September 2021, Sandoz signed a commercialization pact for biosimilar BAT1706 with Bio-Thera solutions to treat multiple types of cancers.
In August 2021, Cipla entered into a joint venture agreement Kemwell Biopharma has to develop, manufacture and commercialize biosimilars for global markets.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics.
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Product

By Manufacturing

In-house
Contract

By Indication

Oncology
Chronic Disease
Blood Disorder
Autoimmune Disease

By Region

Europe
North America
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

Request Sample

Frequently Asked Questions (FAQ):

What are biosimilars?

Biosimilars refer to a generic product that is very close in structure and function to a biological drug.

What are examples of biosimilars?

Riabni, Hulio, Nyvepria, Avsola, Semglee, etc., are examples of biosimilars.

What is the size of the Global Biosimilars market?

The global biosimilars market size will reach USD 59.27 billion by 2027 from USD 13.54 billion in 2020.

What is the growth rate of the Global Biosimilars market?

The growth rate of the Global Biosimilars market is 23.7% during the forecast period.

What are the growth drivers of the Global Biosimilars market?

The Cost-effectiveness of biosimilars and increase in Biosimilar treatment penetration are the growth drivers of the Global Biosimilars market.

Select License

We Accept

Analyst support

After evaluating your requirements and addressing your technical problems, the expert analyst will resolve your query directly.

Customer satisfaction

According to your needs, our expert team will assist you with the capabilities, services, and proper research needs to be required and customize the report accordingly.

Inimitable expertise

Our expert team will create unrivaled reviews to provide you with a deep understanding of the reports.

Assured quality

We have created a systematic way to determine standards and satisfy your expectations.

Instant delivery

Unlike others, we provide you a great deal of instant delivery in the form of PDF/PPT/Word Doc directly to your email address within 24 hours after receiving full payment.

Privacy policy

We understand the inkling of your privacy, we will never misuse your email address.

Custom research service

We are giving you an opportunity through which you can directly ask our expert analyst to customize an exclusive study of the report to serve your research needs.

Quality & accuracy

We provide you with the accurate quality of the customized study of an exclusive report according to your research need.

Data visualization

As the business world’s growing faster every day, we understand the value of data management. We will create the reports by keeping all the visual data sets and metrics in the charts.

Information security

We truly respect your privacy and promise to keep your personal and confidential information safe and secure.