Biosimilars Market is valued at USD 7.49 Billion in 2018 and expected to reach USD 34.39 Billion by 2025 with the CAGR of 24.32% over the forecast period.
Rising prevalence of chronic disease and increasing geriatric population across the globe driving the biosimilars market.
Scope of Biosimilars Market -
Biosimilars is also referred as the follow-on biologics. Biosimilars are the biologic medical products which is highly similar to another already approved biological medicine which is available in the market. Biosimilar are the copied and licensed versions of those reference biologics products those have undergone patent expiration. Development and validation of biosimilars with reference biologics products are very crucial aspect of the overall development process. Biosimilars are approved as per the same standards of pharmaceutical quality, efficacy, safety that apply to all biological medicines.
Eli Lily & Company, Pfizer Inc., Sandoz International GMBH, Amgen, Inc., Hospira Inc., Actavis, Inc., Biocon Ltd.,, Cipla Ltd, Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Stada Arzneimittel Ag, Celltrion, Inc., Wockhardt Ltd, Mylan, Inc
However, biosimilars are differ from generics and are not treated as generics, as entire manufacturing process of biosimilar, right from the raw materials used in the manufacturing are different from generic products manufacturing. Similar to generic, biosimilar are the low-cost medicine and can be used in many treatment therapies including some of the most critical diseases like cancer, inflammatory bowel disease, anemia and autoimmune disorders including multiple sclerosis, psoriasis, rheumatoid arthritis, Crohn’s and among others.
Under solid legal framework, which is introduced in 2004 by European Union (EU), prepared dedicated route for the approval of biosimilars and hence in 2006, growth hormone somatropin got the first approval of EU as a biosimilar. Whereas, on March 6, 2015, Zarxio obtained the first approval of FDA for Sandoz's Zarxio is biosimilar to Amgen's Neupogen which was originally licensed in 1991.
The regions covered in this Biosimilars market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of biosimilar is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
True North has acquired about 3 per cent of Biocon Biologics India Ltd (BBIL)
News: On Jan 06, 2020, Biocon Biologics India Ltd is the wholly owned subsidiary of Biocon has announced the dilution of its share and sell its 3% share to True North for USD 100 million, by valuing the unlisted subsidiaries at around USD 3.5 billion. Biocon Biologics is formed in December 2017 to house all Biocon’s’ biologics business including biosimilars that include monoclonal antibodies, recombinant insulins and novel biologics. Biocon is the parent company of Biocon Biologics India Ltd, company aim to list Biocon Biologics in the next few years in similar fashion to its contract research arm Syngene.
Biosimilars Market Segmentation –
Insulin, Recombinant human growth hormone (rhGH), Granulocyte colony-stimulating factor, Interferon, Erythropoietin, Etanercept, Monoclonal antibodies, Follitropin, Glucagon, Calcitonin, Teriparatide, Enoxaparin Sodium
Offsite Treatment, Oncology, Chronic Disorder, Autoimmune Disease, Blood Disorders, Infectious Disease, Other Diseases
Biosimilars Market Dynamics –
Increasing prevalence of chronic diseases including cancers, diabetes, rheumatoid arthritis, CVDs, autoimmune diseases, kidney failure, growth hormone deficiency, haematological diseases and infectious diseases driving the growth of biosimilar market. For instance, as per the WHO, the number of people with diabetes rose from 108 million in 1980 to 422 million in 2014 and in 2016, an estimated 1.6 million deaths were directly caused by diabetes. Additionally, growing geriatric population is another major factor identified to primarily drive the market for biosimilars. Moreover, increasing investment on R&D and increasingly gaining preference over follo on biologics, these all factors driving the growth of market.
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