What is Biosimilar Drug Market?
Biosimilar pharmaceuticals are drugs that have the same active properties as other licensed drugs. It is believed that biosimilar drugs tend to have a significant impact on the United States as well as the European pharmaceutical industry. Because of increased competition with accelerated biosimilar approvals and their rapid product launch. Increasing usage of biosimilar drugs in various applications such as cardiovascular, rheumatoid arthrtis, tumor, ankylosing spondylitis, among others are likely to be the prime drivers for market growth.
The market study is being classified by Type (Recombinant Non-Glycosylated Proteins {Recombinant Human Growth Hormone, Insulin, Others}, Recombinant Glycosylated Proteins {Erythropoietin, Monoclonal Antibodies, Others} and Recombinant Peptides {Glucagon, Calcitonin}), by Application (Cardiovascular, Rheumatoid Arthrtis, Tumor, Ankylosing Spondylitis and Others) and major geographies with country level break-up.
Pfizer (United States), Sandoz International (Germany), Teva Pharmaceuticals (Israel), Amgen (United States), Biocon (India), Dr. Reddy’s Laboratories (India), Celltrion (South Korea), Samsung Biologics (South Korea), Eli Lilly and Company (United States) and Henlius Biotech (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are CP Guojian (China), Novartis International AG (Switzerland), Amgen Inc. (United States), Changchun High Tech (China) and Celgene Corporation (United States).
The biosimilar drug market is highly fragmented with the presence of local and regional players operating in the market. Various players operating in the market such as Pfizer (United States), Sandoz International (Germany), Teva Pharmaceuticals (Israel), Amgen (United States), among others. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Biosimilar Drug market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Biosimilar Drug market by Type, Application and Region.
On the basis of geography, the market of Biosimilar Drug has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Biosimilar Drugs Due to Their Cost-Effectiveness
- Rising Incidence of Chronic Diseases across the world
Market Trend
- Technology Advancement regarding Biosimilar Drug
Restraints
- Issue related to Innovative Strategies by Biologic Drug Manufacturers
Opportunities
- New Indications as well as Patent Expiry of Biologic Products
- Growing Demand from Emerging Economics such as China, India, among others
Challenges
- Stringent Regulatory Requirements to Adversely Affect Investments in Biosimilars
According to the National Center for Biotechnology Information, “This paper provides an overview of the regulation of biosimilar medicines. Challenges associated with the demonstration of interchangeability and practical considerations relating to switching are also discussed”.
Key Target Audience
Biosimilar Drug Manufacturers, Industry Association, Research and Development (R&D) Companies, Health Insurance Payers, Research Organization, Pharmaceutical and Medical Associations, Federal Agencies and Others