Market Research Report
ASEAN and China Biosimilars Market by Molecule Type, and Application : Opportunity Analysis and Industry Forecast, 2017 - 2025
|Published by||Allied Market Research||Product code||758996|
|Published||Content info||130 Pages
Delivery time: 2-3 business days
|ASEAN and China Biosimilars Market by Molecule Type, and Application : Opportunity Analysis and Industry Forecast, 2017 - 2025|
|Published: November 18, 2018||Content info: 130 Pages||
ASEAN and China Biosimilars Market by Molecule Type (Human Growth Hormone, Erythropoietin, Monoclonal Antibody, Insulin, Interferon, Granulocyte-Colony Stimulating Factor, and Peptide), and Application (Blood Disorder, Oncology Disease, Chronic & Autoimmune Disease, Growth Hormone Deficiency, and Others): Opportunity Analysis and Industry Forecast, 2017 - 2025 .
The ASEAN and China biosimilars market was valued at $687.6 million in 2017 and is expected to reach $5,506.2 million by 2025 with a CAGR of 29.7% during the forecast period. Biosimilars or follow-on-biologics are the "copied" version of reference biologics, which are protected by intellectual rights that are anticipated to expire in future. The development and validation of biosimilars with reference biologics is a crucial part of the overall process. The key driving factor for biosimilars is their implied ability of providing more cost-effective treatment than branded biologics.
Key players operating in the pharmaceuticals industry are largely investing in the development of biosimilars that can be applied for the treatment of several chronic medical conditions. Biosimilars have the potential to offer up to 30% cost reduction as compared to branded biologics. This is attributed to the compact validation pathways that reduce the additional cost of clinical trials, which further assist manufacturers to achieve scale economies. The key contributing factor to the growth in demand for biosimilars across the ASEAN and Chinese market is the patent expiration of most of the blockbuster drugs in the past few years. However, the biosimilars industry is witnessing issues pertaining to achieving product efficiency while maintaining the required production capacity. This plays a pivotal role in the biosimilars industry considering the large population of ASEAN countries along with China. Progress in improving the product efficiency and quantity is expected to open new avenues for the expansion of the biosimilars market across ASEAN and China.
The ASEAN and China biosimilars market is segmented into molecule type, application, and region. Based on molecule type, the market is divided into human growth hormone, erythropoietin, monoclonal antibodies, insulin, interferon, granulocyte-colony stimulating factor, and peptide. Based on application, the market is classified into blood disorders, oncology diseases, chronic and autoimmune diseases, growth hormone deficiency, and others. Further, the chronic and autoimmune diseases segment is sub-categorized into diabetes, rheumatoid arthritis (RA), glaucoma, and others. Based on region, the market is analyzed across China and ASEAN region.