The Global Market for Biosimilars is Projected to Reach US$23.3 Billion by 2022

High Demand for Biologic Drugs & Impending Patent Expiries of Major Biologics Drive the Global Biosimilars Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Biosimilars market. The global market for Biosimilars is projected to reach US$23.3 billion by 2022, driven by the patent expiry of several blockbuster branded biologics coupled with the strong demand for lower-priced biosimilars.

Biopharmaceuticals or biologics gained popularity owing to their better efficacy over difficult diseases such as cancer and autoimmune disorders. But given their high prices and focus of global governments on reducing healthcare expenditure, aggressive efforts laid the groundwork for biosimilars. Several blockbuster biopharmaceuticals, including Roche’s Herceptin and Rituxan, Sanofi’s Lantus, and Amgen’s Neulasta, face patent expiry by 2016. Though it signals loss of revenues for pharmaceutical giants, patent expiry provides a huge opportunity for companies engaged in developing biosimilars and generic medicines.

With the sector promising significant cost savings to the healthcare industry, several major markets are welcoming biosimilar legislations. While the EU and Japan pioneered the launch of biosimilars, the regulatory pathway associated with biosimilars was delayed in the U.S. The U.S. biosimilar market scenario, however, took off recently with the approval of Zarxio and Inflectra in 2015 and 2016, respectively. The Asia-Pacific region is expected to witness strong growth, followed by various emerging Latin American countries. A simpler approval process encourages several biosimilar developers to target Asia and other emerging regions. Various manufacturers of biosimilars have already registered their products in India, Australia, and South Korea.

The biosimilars market is witnessing an increasing focus on monoclonal antibodies (mAbs), the class that includes some blockbuster biopharmaceuticals that are slated to lose patent protection in the near future. An increasing percentage of biosimilars in current R&D pipelines of companies are mAbs. Several manufacturers are in the race to develop mAb biosimilars for the same biologic, thereby increasing competition in this space. Because all of them cannot achieve blockbuster status, the speed-to-market is of high importance. Monoclonal antibody biosimilars are mainly being developed to tackle the various emerging types of cancer.

As stated by the new market research report on Biosimilars, Europe represents the largest market worldwide. Emerging economies of Asia-Pacific, Latin America, and the Middle East will remain among the fastest growing markets with a combined CAGR of 52.8% over the analysis period. These underpenetrated markets offer huge potential with their growing population and diseases, higher healthcare R&D funding, and demand for low-priced therapeutics.

Major players covered in the report include Amgen Inc., Allergan plc, Biocon Ltd., Biopartners GmbH, Boehringer Ingelheim GmbH, Celltrion Inc., Cipla Ltd., Dr. Reddy's Laboratories Ltd., Eli Lilly and Company, EPIRUS Biopharmaceuticals Inc., Hospira Inc., Intas Biopharmaceuticals Ltd., Merck KGaA, Mylan N.V., Pfizer Inc., Samsung Bioepis Co. Ltd., Sandoz International GmbH, STADA Arzneimittel AG, and Teva Pharmaceutical Industries Ltd., among others.

The research report titled "Biosimilars: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, mergers and acquisitions, and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets, such as the US, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), and Rest of World.  

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