Global Biosimilars Market and ForecastView all
iGATE RESEARCH has released a report on Biosimilars Market. The report titled Global Biosimilars Market and Forecast (By Product Type, Applications, Country Wise & Companies) to 2021 and Biosimilars Approved & Pipeline Analysis provides a comprehensive assessment of the fast-evolving, high-growth Global Biosimilars market.
The biosimilars are poised to capture an unprecedented position in the biopharmaceutical industry driven by an increased extent of adoption and growing investment and deal making activity globally. The global biosimilars market is predicted to cross US$ 25 Billion mark by 2020. With the continuous increasing demand for biologics, manufacturers are looking for novel strategies that will help them attain maximum returns on investment. Biosimilars are seen as the key weapon to curbing soaring healthcare costs globally. The major factor that is driving the market for biosimilars industry is the fact that major biologics are nearing the patent cliff. Further, the lower cost of these drugs as compared to the patented biologics, the increasing encumbrance to curb healthcare costs globally, increasing nationwide government initiatives, and the strong pipeline for the biosimilar drugs is expected to fuel the biosimilars industry. On the other hand, high manufacturing complexities and costs, stringent regulatory requirements in countries and operational challenges are restricting the growth of the biosimilars market.
Key Highlights of the Report
Biosimilars Market - By Product Type
- The erythropoietin (EPO) captures maximum share of the global biosmilars market.
- The Granulocyte- Colony Stimulating Factor (G-CSF) market is expected to cross US$ 6 Billion mark by 2021.
- The Human Growth Hormone (HGH) biosimilars market is expected to grow with a double digit CAGR during the period 2016 - 2021.
- The monoclonal antibody is expected to show the highest growth rate during the period 2016 - 2021.
- The insulin and interferon product segment each accounted for single digit share of the global biosimilars market respectively in 2015.
Biosimilars Market - By Applications
- Among various application segments of biosimilar market, blood disorders and oncology together accounted for over 55% share of the global biosimilars market in 2015.
- Growth hormone deficiencies application is expected to show double digit CAGR during the period 2016 - 2021.
- The chronic and autoimmune disorders captured XX% share of the biosmilars market in 2015.
Biosimilars Market - By Country Wise
- The market for biosimilars in the U.S. has gained momentum after the launch of Novartis Zarxio in September 2015.
- In the European countries, Germany is at the forefront with around XX% share of the biosimilars market in 2015 followed by France with XX% share in the same year.
- China accounted for XX% share of the global biosimilar market in 2015.
- India is seen as a key player in the biosimilar space with an exceptionally high number of approvals granted in the last decade compared to the global average.
- South Korea captured XX% of the global biosimilar market in 2015 being closely followed by Brazil with XX% share in the same year.
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