Global biosimilars market is shaping up to become one of the medical industry’s fastest-growing investment avenues. According to Equity Bulls, indeed, the potential presented by biosimilars is quite lucrative with many pharmaceutical companies keen on capitalizing on these drugs. This is primarily being done to take themselves past molecule generics-driven sector that is full of intense competition and subject to price pressures.
Deployment of recombinant DNA (rDNA) technology in the manufacturing of biosimilar products like human growth hormones, insulin, and erythropoietin registered 80% of the total biosimilar market share, estimated to be more than USD 8,123.6 million in 2018. The growth can be attributed to the effectiveness offered by the rDNA technology to enhance the productivity of biosimilars for ensuring the rapid treatment of ailments.
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Recombinant non-glycosylated proteins accumulated a significant revenue share for the biosimilars market in 2018 and the value is likely to grow at a 26.1% CAGR through 2025. Recombinant non-glycosylated proteins are biosimilar products that include human growth hormones, granulocyte colony-stimulating factor (Filgrastim), insulin, and interferons.
Biosimilar drugs witness high adoption in hematology and this application segment contributed to more than USD 4,552.1 million in global remuneration in the overall market in 2018. The American Society of Hematology reported that over 3 million people residing in the U.S are diagnosed with anemia. Prevalence of conditions like anemia and neutropenia will foster the consumption of biosimilars to treat these blood disorders.
Production of biosimilars in-house accounted for 75% of the total annual revenue in 2018 and the market for this segment is pegged to record a CAGR of 26.5% through 2025. This can be owed to the advantages like flexibility and efficiency of work rendered by these facilities to improve the operations and financial spending of the companies.
The future of India biosimilars market is often reflected in the way global pharmaceutical companies forge partnerships with Indian firms. The most notable one is the agreement between U.S. pharma company Mylan N.V. and India’s Biocon. The partnership has seen substantial progress in obtaining approvals for biosimilars across Europe and the U.S in 2018, which helped Biocon witness a 36% revenue growth – approximately $120 million – through its biosimilars business.
According to Kemwell Biopharma, this disparity between the equally developed regions can be attributed to the fact that unlike the EU, USA didn’t implement any regulatory framework that would evaluate biosimilars until 2009, when it enacted the Biologics Price Competition and Innovation (BPCI) Act.
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Partial Chapter of the Table of Content
Chapter 6. Biosimilars Market, By Manufacturer
6.1. Global biosimilars market share by manufacturer, 2018 & 2025
6.2. Contract Research and Manufacturing Services
6.2.1. Market size, by region, 2014 – 2025 (USD Million)
6.3.1. Market size, by region, 2014 – 2025 (USD Million)
Chapter 7. Biosimilars Market, By Technology
7.1. Global biosimilars market share by technology, 2018 & 2025
7.2. Recombinant DNA Technology (rDNA technology)
7.2.1. Market size, by region, 2014 – 2025 (USD Million)
7.3. Monoclonal Antibodies (MAb) Technology
7.3.1. Market size, by region, 2014 – 2025 (USD Million)
Charts & Figures
FIG. 1 Market estimation and forecast methodology
FIG. 2 Top-down approach (demand side analysis)
FIG. 3 Bottom-up approach (supply side analysis)
FIG. 4 Industry segmentation
FIG. 5 Global biosimilars market, 2014 – 2025 (USD Million)
FIG. 6 Growth potential analysis, by product
FIG. 7 Growth potential analysis, by application
FIG. 8 Growth potential analysis, by manufacturer
FIG. 9 Growth potential analysis, by technology
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