Global Biosimilar Market Analysis By Top Key Players Celltrion Inc., Biocon Limited, Samsung Biologics, Amgen And More

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    Global Biosimilar Market Expected to Grow
at 30 During 2018-2023

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Report Description and Highlights
Report Description
Global Biosimilar Market Expected to Grow at 30
During 2018-2023 The global biosimilar market
has witnessed a double-digit growth over past few
years. Factors such as increasing prevalence of
lifestyle diseases, savings for governments and
third party-payers, and incentives for
pharmacists have been proactive in propelling the
market growth. According to the recent report
by IMARC Group, entitled Biosimilar Market
Global Industry Trends, Share, Size, Growth,
Opportunity and Forecast 2018-2023, the global
biosimilar market size was estimated to be US
2.9 Billion in 2017, growing at a CAGR of more
than 36 during 2012-2017. Biosimilars, also
known as subsequent entry biologics (SEBs) or
follow-on biologics, refer to FDA-approved
biotherapeutic products which are similar to
their reference biologics. Biosimilars can only
be manufactured after the patent of the reference
product expires. The demand for biosimilars has
been increasing in recent years as they help in
reducing the overall cost of the treatment for a
variety of chronic diseases including cancers,
autoimmune diseases, kidney failure, diabetes,
CVDs, haematological disorders, infectious
diseases, rheumatoid arthritis, growth hormone
deficiency, etc.
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Report Description and Highlights
Report Description
Global Biosimilar Market Drivers Recent patent
expiries of a large number of blockbuster
biological drugs such as Humira, Remicade,
MabThera, Enbrel, etc. have majorly boosted the
growth of the biosimilar market. Another major
growth-inducing factor is ageing population which
has led to a rise in the prevalence of
non-communicable diseases. Further, high costs of
innovator biologics, especially monoclonal
antibodies (mAbs), have encouraged several
governments across the globe to promote the usage
of biosimilars. For instance, European countries
like the Netherlands, Denmark and Germany have
established strategic models for discount pricing
and introduced numerous incentive programs. Apart
from this, biosimilars do not require extensive
marketing as the safety and efficacy profile of
biologics has already been established. This has
resulted into the low cost of these drugs in
comparison to their branded counterparts, in
turn, spurring their demand worldwide. Due to the
abovementioned factors, the market is projected
to expand at a CAGR of more than 30 during
2018-2023, registering a value of US 15.6
Billion by 2023. Read more here
https//www.imarcgroup.com/biosimilar-market
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Report Description and Highlights
Report Description

• Global Biosimilar Market Summary
• Based on molecule type, Infliximab represents the
  largest segment, accounting for the majority of
  the total market share. Other major categories
  include Insulin Glargine, Epoetin Alpha,
  Ethanercept, Filgrastim, Somatropin, Rituximab
  and Follitropian Alfa.
• On the basis of type of manufacturing, the market
  has been bifurcated into in-house and contract
  manufacturing. Currently, in-house manufacturing
  holds around three-fourth of the total share,
  representing the dominant segment. This method
  enables the manufacturers to monitor every step
  of the biosimilars production process and
  eliminates both shipping and delivery costs.
• The market has also been segregated on the basis
  of indication as autoimmune diseases, oncology,
  diabetes, blood disorder, growth deficiency and
  female infertility. Amongst these, autoimmune
  diseases account for around a half of the global
  share.
• Region-wise, Europe is the leading market with
  more than a half of the global share. This can be
  attributed to the large ageing population in the
  region. Besides Europe, other major regions
  include the United States, India, Japan and South
  Korea.
• On examining the competitive landscape of the
  market, it has been found that the biosimilars
  industry is concentrated in nature. Some of the
  key players operative in the market are Sandoz
  International GmbH, Pfizer Inc., Teva
  Pharmaceutical Industries Limited, Celltrion
  Inc., Biocon Limited, Samsung Biologics, Amgen,
  Inc., Dr. Reddy's Laboratories Limited and Stada
  Arzneimittel Ag.
• Want more information about this market? Request
  a free report sample
• https//www.imarcgroup.com/request?typereportid
  497flagB

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Report Description and Highlights
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Report Description and Highlights
Report Description

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