Global Information Inc. would like to present a new market research report, "Biosimilars: Global Markets" by BCC Research.
Biopharmaceuticals are making substantial contributions in several therapeutic areas by providing drugs with improved effectiveness. The high costs associated with these products limit their affordability, however, and challenges healthcare budgets of the payers. The fact that many of these blockbuster drugs are facing patent expiry is providing an opportunity for biosimilars.
This expiry of patents of the first-generation biologic drugs has opened up a new market opportunity to develop biosimilars, drugs based on the extensive scientific and clinical learning available from long experience with the original products. But this new opportunity has also brought in significant scientific as well as regulatory challenges.
- Global demand for biosimilars totaled nearly $2.5 billion in 2011 and should reach $3.6 billion in 2016, a compound annual growth rate (CAGR) of 7.7% over the five-year period.
- The biosimilars market can be broken down into four regions: APAC (Asia-Pacific), the United States, Europe, and the rest of the world.
- The APAC region accounted for $683 million in 2011 and should reach $1.1 billion in 2016, a CAGR of 10.3%.
- The United States accounted for nearly $1.1 billion in 2011 and should increase at a CAGR of 4.1% to reach $1.3 billion in 2016.
- Europe, worth $377 million in 2011, should reach $625 million in 2016, increasing at a CAGR of 10.6%.
- The rest of the world accounted for $335 million in 2011 and in 2016 should total $522 million, a CAGR of 9.3%.
This report is targeted to help strategy developers and decision-makers of biotech and pharmaceutical companies as well as other stakeholders, including payers, venture capitalists, regulatory authorities, physicians, and pharmacists. The report is especially suitable for legislators involved in government policy development programs as well as law firms involved in IP matters of the healthcare industry. Technology trend analysis gives an overview of successful technologies, which is helpful for research managers in charge of project identification and development.