Biosimilars Market Gains Momentum with a Striking CAGR of ~26% by 2023
“Global Biosimilars Market by Manufacturers, Countries, Type and Application, Forecast to 2023 Report “Provides In-Depth Analysis of Parent Market Trends, Macro-Economic Indicators and Governing Factors Along With Market Attractiveness as Per Segments. Considering the global scenario of the Biosimilars market, the total market is expected to reach USD 16.97 Billion by 2023 from USD 3.35 Billion in 2016, at a CAGR of 26 %.
MarketResearchFuture.com adds “Biosimilars Market -2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.
Market Synopsis of Global Biosimilars Market:
Biosimilars is a biological medical product which are identical copy of the original medical product. They are not generics nor treated like generic drugs. Biosimilars are derived from bacteria, plant, yeast and many other different process. Increasing incident of different diseases, strategic collaborations resulting in enhanced productivity and clinical trial activities for biosimilars and increasing demand for the cheap medical products is responsible driving the global biosimilars market. On other hand lack of awareness and physician scepticism are the major restraining factor for the growth of the market.
Biosimilars is a biological medical product which are identical copy of the original medical product manufacture by different companies. Biosimilars product is the fastest growing market in the United States owing to increasing interest of manufacturer for in this market. It is an approved process and normally manufactured when the original product's patent expires. According to Food and Drug Administration, in 2015, FDA approved Inflectra (infliximab-dyyb) for multiple indications. Inflectra is administered by intravenous infusion. This is the second biosimilar approved by the FDA.
The global biosimilars market is rising with a swift phase; mainly owing to enhanced productivity and clinical trial activities for biosimilars and increasing demand for the cheap medical products. There are many recently development due to the expiry of patient of original drugs. In 2015, The U.S. Food and Drug Administration approved Erelzi, (etanercept-szzs) for multiple inflammatory diseases. Erelzi is a biosimilar to Enbrel (etanercept), which was originally licensed in 1998 and in 2016, FDA approved Amjevita (adalimumab-atto) as a biosimilar to Humira (adalimumab) for multiple inflammatory diseases.
Key Players for Global Biosimilars Market:
Pfizer Inc. (U.S.), Teva Pharmaceuticals Industries Ltd. (Israel), Sandoz International GmbH (Germany), Celltrion, Inc. (South Korea), Astra Zeneca (UK), Amgen Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Biocon Ltd. (India), Dr. Reddy’s Laboratories Ltd. (India), Novartis (Switzerland), Accord Healthcare (UK), Eli Lilly (US) and Samsung Bioepis (South Korea).
Segmentation of Global Biosimilars Market:
Global biosimilars market is segmented on the basis of product into recombinant glycosylated proteins, recombinant non-glycosylated proteins and other. Recombinant glycosylated proteins are further sub segmented into Monoclonal antibody (mAb) and EPO. Recombinant non-glycosylated proteins is sub segmented into insulin, growth hormones and other. On the basis of application the market is segmented into Immune diseases, oncology, blood related disorders and other. On the basis of manufacturing, market is segmented into contract manufacturing and in-house manufacturing.
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Regional Analysis of Global Biosimilars Market:
On regional basis, Europe has dominating market for the biosimilars market. Increasing prevalence of diseases and rising geriatric population has led to grow this market in Europe. North America has second leading market followed by Asia Pacific. Asia Pacific biosimilars market is growing at a CAGR of 27.8 % during 2017-2023.
The report for global biosimilars market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
Europe has dominating market for the biosimilars market owing to presence of huge patient population and also major player of Germany, France who have more focused in exporting the drugs to developing region of Asia Pacific. Furthermore Increasing prevalence of diseases and rising geriatric population has led to grow this market in Europe.
Recently in 2017, The U.S. Food and Drug Administration approved first biosimilar for the treatment of cancer, Mvasi (bevacizumab-awwb) as a biosimilar to Avastin (bevacizumab) for the treatment of multiple types of cancer.
Major TOC of Global Biosimilars Market:
Chapter 1. Introduction
Chapter 2. Research Methodology
Chapter 3. Market Dynamics
Chapter 4. Market Factor Analysis
Chapter 5. Global Biosimilars Market, By Product
Chapter 6. Global Biosimilars Market, By Application
Chapter 7. Global Biosimilars Market, By Manufacturing
Chapter 8. Global Pain Management Devices Market, By Region
Chapter 9. Competitive Landscape
Chapter 10. Company Profile
Chapter 11. Conclusion
Chapter 12. Appendix
...CONTINUED
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Posted by
Vivian Dsena
on Thursday January 04 2018, 5:30 PM EST.
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