Market Research Report
Biosimilars Market by Product (Recombinant Non-Glycosylated Proteins (Insulin, rHGH, Interferon), Glycosylated (mAb, EPO), Peptides (Glucagon, Calcitonin)), Manufacturing Type (In-house, Contract), Disease - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||290171|
|Published||Content info||181 Pages
Delivery time: 1-2 business days
|Biosimilars Market by Product (Recombinant Non-Glycosylated Proteins (Insulin, rHGH, Interferon), Glycosylated (mAb, EPO), Peptides (Glucagon, Calcitonin)), Manufacturing Type (In-house, Contract), Disease - Global Forecast to 2023|
|Published: April 6, 2018||Content info: 181 Pages||
The biosimilars market is expected to reach USD 23.63 billion by 2023 from USD 5.95 billion in 2018, at a CAGR of 31.7%. Factors driving the growth of this market include increasing demand for biosimilar drugs due to their cost-effectiveness, rising incidence of chronic diseases, and strategic collaborations resulting in enhanced productivity and clinical trial activities.
The biosimilars market by product, is categorized into recombinant non-glycosylated proteins, recombinant glycosylated proteins, and recombinant peptides. The recombinant glycosylated proteins segment is expected to register the highest CAGR during the forecast period. The factors driving the market for glycosylated proteins are the broad therapeutic area of these proteins; presence of biosimilar versions of monoclonal antibodies at lower prices compared to reference products; numerous biologic drugs underclass monoclonal antibody, follitropin, and erythropoietin going off-patent; and numerous products in the pipeline. The glycosylated proteins are the broad therapeutic area of these proteins; presence of biosimilar versions of monoclonal antibodies at lower prices compared to reference products; numerous biologic drugs under class monoclonal antibody, follitropin, and erythropoietin going off-patent; and numerous products in pipeline are the key factors driving the growth of this market.
By type of manufacturing, the biosimilars market is segmented into in-house manufacturing and contract manufacturing. The contract manufacturing segment is expected to remain growthe at the highest CAGR fastest-growing segment of the global biosimilars market during the forecast period. CMOs provide cost-saving benefits to companies in terms of facilities, equipment, and labor costs. Factors such as the cost-saving of facilities, equipment, and labor are driving the growth of this segment.
On the basis of region, the biosimilars market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to grow at the highest CAGR during the forecast period. Many Asian countries such as India, China, South Korea, and Japan have emerged as potential markets for biosimilars. Many emerging economies in the region are also establishing biosimilar pathways. Moreover, leading market players are outsourcing manufacturing and R&D activities to countries in the Asia Pacific region due to the availability of highly skilled resources at lower costs. In addition to this, the low per capita consumption, rapid growth in economies, trade links, and the rise in medical tourism are accelerating the growth of the Asian market. Geographically, the biosimilars market is dominated by Europe, followed by Asia in 2018. However Asia is estimated to grow at the fastest rate due to rising incidences of various diseases such as, diabetes, cancer, and Anaemia in Asian countries and increasing demand of biosimilars due to cost-effectiveness as compared to biologics. According to GLOBOCAN, in 2015, around 7,391,815 new cancer patients are expected to be diagnosed in Asia. This increase will propel the demand for biosimilars required for treatment.
The primary interviews conducted for this report can be categorized as follows:
The key players in the biosimilars market include: Pfizer (US), Sandoz (Germany), Teva Pharmaceuticals (Israel), Amgen (US), Biocon (India), Dr. Reddy's Laboratories (India), Celltrion (South Korea), and Samsung Biologics
The report analyses the biosimilars market by products, type of manufacturing, disease, and region. Apart from a comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output to remain successful in the market.
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firmsfirms, garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
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