Market Research Report
Global Biosimilars Market 2018-2022
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||232659|
|Published||Content info||111 Pages
Delivery time: 1-2 business days
|Global Biosimilars Market 2018-2022|
|Published: December 6, 2018||Content info: 111 Pages||
Patients and physician's willingness to switch to biosimilars is expected to drive growth in the market. Majority of physicians, especially rheumatologists, preferred to prescribe a bio-originator instead of biosimilar as the first line therapy for the treatment. However, the physician and patients are very much willing to shift to biosimilars. Technavio's analysts have predicted that the biosimilars market will register a CAGR of almost 35% by 2022.
Price advantage of biosimilars over biologics
High cost of biologics reduces patient access to these products and increases the total healthcare costs. The reason for less cost of biosimilar can be sue to the smaller number of clinical trials for a biosimilar when compared with original biologic.
Market access barriers for biosimilars
To compete with biologics and to get entry into the market, the biosimilars are facing challenge. The first and foremost challenge is sophisticated manufacturing process associated with biosimilars.
For the detailed list of factors that will drive and challenge the growth of the biosimilars market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Novartis and Pfizer the competitive environment is quite intense. Factors such as the patients and physician's willingness to switch to biosimilars and the price advantage of biosimilars over biologics, will provide considerable growth opportunities to biosimilars manufactures. Amgen, Biogen, Merck, Novartis, and Pfizer are some of the major companies covered in this report.