Global biosimilars market report gives comprehensive outlook on biosimilars products across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). The report on biosimilars market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application, manufacturing type, distribution channel, and geographic regions. This report studies biosimilars market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, biosimilars market report includes new product introductions; regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed biosimilars market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the biosimilars market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in manufacturing, supply and prescription of biosimilar products.
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Global Biosimilars Market:
Global biosimilars market estimated to be valued US$ 4.10 Bn in 2017 and poised to grow at CAGR of 23.0% over 2017-2023. Market for biosimilars projected to reach US$ 14.23 Bn by 2023 owing to increasing patent expires of biologics and rising biosimilars product pipeline.
Growing demand for cost-effective medications to reduce healthcare burden is driving the market revenue growth
Global biosimilars market is gaining traction in recent times owing to its cost-effective pricing in comparison with patented or branded biologics, which are generally priced higher than biologics. The adoption of cost-effective biosimilars is rising in different healthcare setups across the developed and developing countries to curtail the growing pressure on healthcare budgets. The introduction of biosimilars has even led to improved access to the premium priced biopharmaceuticals in developing and under developed markets with lesser costs. Moreover, favorable government policies to promote cost-effective biosimilars expected to drive market revenue growth over the forecast period.
Increasing prevalence of several chronic diseases are expected to drive biosimilars market revenue growth over the forecast period
The rising prevalence of several chronic diseases such as cancer, diabetes, cardiovascular diseases, autoimmune disease, and among others across the developed and developing economies expected to drive the market for biosimilars over the forecast period. The growing demand from developing and underdeveloped market for improved healthcare access is driving the market revenue growth over the forecast period. Moreover, several players are increasing their focus form developed markets to developing markets to tap increasingly growing market opportunity is driving the market revenue growth. For instance, according to globocan cancer statistics, There were 14.1 million new cancer cases, 8.2 million cancer deaths and 32.6 million people living with cancer (within 5 years of diagnosis) in 2012 worldwide.
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Europe emerged as prominent region for Biosimilars market across the globe
Europe market expected to hold the higher revenue share in global biosimilars market owing to healthcare practitioners shift to low priced drugs, and wider treatment choices available in the region. Asia-pacific biosimilars market projected to grow at highest CAGR over the forecast period in comparison with other regions owing to large out-of-pocket healthcare expenditure and large medical unmet need due to lack of patented product availability.
Competition Assessment
Key players profiles in the global Biosimilars market include:
- Amgen Inc. (U.S.)
- Biocon Ltd. (India)
- Celltrion, Inc. (South Korea)
- Dr. Reddy’s Laboratories Ltd. (India)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Pfizer Inc. (U.S.)
- Samsung Bioepis (South Korea)
- Novatis AG (Switzerland)
- Teva Pharmaceuticals Industries Ltd. (Israel)
Players in biosimilars market are focusing on introducing low-cost biosimilars in developed and developing economies to garner larger market revenue share in global biosimilars market. For instance, in 2015 Sandoz (Novartis AG) launched generic version (Glatopa) of copaxone (glatiramer acetate) in U.S. market.
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Key Findings of the Report:
- Global Biosimilars market expanding at 23.0% CAGR over 2017 to 2023 to reach market value of US$ 14.23 Bn by 2023
- Based on application, oncology segment expected to emerge as larger revenue generating segment end of the forecast period owing to growing prevalence of the cancer
- Hospital pharmacies are prominent source for biosimilars drugs and accounted for larger market revenue share in 2016 expected to remain attractive over the forecast period
- Players are focusing on launching the newer biosimilars in the market to gain market revenue share
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Detailed Segmentation
By Products Type
- Monoclonal Antibodies
- Recombinant Hormones
- Recombinant Growth Factors
- Immunomodulators
- Anti-Inflammatory Agents
- Others
By Application
- Oncology
- Blood Disorders
- Autoimmune Diseases
- Growth Hormone Deficiency
- Infectious Diseases
- Diabetes
- Others
By Manufacturing Type
- Captive
- Out-sourcing
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Geography
- North America
- U.S
- Canada
- Europe
- Germany
- France
- U.K
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Venezuela
- Rest of Latin America
- Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- Israel
- South Africa
- Rest of MEA
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