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Characterised by increased utility in chronic diseases and capital intensive manufacturing, the global biosimilars market is expanding robustly. As the demand for biologics is increasing continuously, manufacturers are on the lookout for novel strategies that will help them attain maximum returns on investment.Derived from biological elements, biologic medications have transformed the treatment paradigm of life threatening, debilitating diseases. However, such drugs come at staggering prices in the market. Hence, cheaper biological products have become an economic and healthcare requisite.
Amongst the impending patent cliffs, shrinking drug pipelines and increasing pressure to reduce treatment costs, biosimilars are poised to capture an unprecedented position in the biopharmaceutical industry. Supported by numerous factors including the recent progression in the regulatory landscape, the biosimilars market is witnessing an increased extent of adoption and heightened investment and deal making activity.
Biosimilars have currently attained a small portion of their anticipated future potential. The real commercial prospects lie in the two leading innovator biologics markets, the US and Europe, which account for a major proportion of the global spending on biologics. Europe, with the introduction of regulatory guidance in 2005 and the first biosimilar authorisation in 2006, is well ahead of the US. Till date, there are 16 marketed biosimilar products in Europe. However, in the recent years, the US has witnessed tremendous progression in terms of the advances in the regulatory landscape.
The involvement of generic manufacturers and R&D based pharmaceutical and biotechnology companies has led to the emergence of a diversified competitive marketplace. Realizing the huge commercial prospects, several innovator biotech companies are actively engaged in the development of biosimilars. In addition, this segment has become lucrative for other companies such as Fujifilm and Samsung. The contribution by such players does ensure a fresh inflow of money to fund development programs.
Overall, with the learning curve for biosimilars still evolving, the market offers huge growth opportunities along with demanding requirements in terms of clinical development, manufacturing and marketing authorisation. Driven by an extensive pipeline, contribution of numerous pharmaceutical players and the huge market opportunity likely to unfold in the US and EU, the biosimilars market is poised to witness an unrivalled market growth during forecast period.
Several recent developments have taken place in the field of global biosimilars market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.
The ‘Global Biosimilars Market, 2015 - 2025’ market report provides an extensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the global biosimilars market. With the blockbuster biologics losing patent protection and biotechnology industry striving to minimize costs, biosimilars are being viewed as viable substitutes to the highly expensive biological medications. The market research report presents an in-depth review of the developments in established markets and emerging regions, with respect to the market landscape, global and local players, regulatory scenario and emerging opportunities. It provides a detailed analysis of the worldwide pipeline of biosimilars on key parameters such as product categories, indications, biosimilar targets and status of development.
The market report presents a comprehensive view of key product classes into which biosimilars can be categorized; these include monoclonal antibodies (mAbs), insulin, interferons, G-CSF/ GM-CSF, erythropoietins and others. We have highlighted some of the important aspects specific to these product categories including regulatory guidelines, development challenges, marketed / pipeline biosimilars, sales data (where available) and information on patent expiry of the reference products.
The market research report assesses some of the key drivers that have governed the evolution of biosimilars market over the past several years along with an elaborate discussion on the future trends that will shape the market in the coming years. One of the focus areas of this market report is to estimate size of the future opportunity in the biosimilars market over the next decade, segmented on the basis of geographical clusters and product categories.
The market research report also provides information on some of the most recent activities in this global biosimilars market; amongst others, these include growing collaborations, investment activity and technological advancements. In addition to some of the well-known benefits and a promising outlook, the market research report also highlights considerable challenges currently prevalent in the market. Examples of such challenges include manufacturing complexities, heterogeneous regulatory framework, and associated safety and efficacy issues. Nevertheless, these challenges are paving the way for new strategies and technological improvements, which will indeed be advantageous in the long run.
The key objective of global biosimilars market report is to provide a detailed market analysis in order to estimate the existing market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for global biosimilars market during the forecast period. The research, analysis and insights presented in this market research report is backed by a deep understanding of key insights gathered both from secondary and primary research.