Asia Pacific Biosimilars Market Study Analysis:
The Asia Pacific Biosimilars market was estimated at $1,206 million in 2018 and is expected to reach $ 9,817 million by 2025, growing at a compound annual growth rate of 35% over the 2018-2025 forecast period.
Asia Pacific Biosimilars Market Growth Drivers, Challenges and Opportunities:
The advent of several chronic diseases around the Asia Pacific (APAC) region is increasing the demand for biosimilars, which is expected to grow rapidly in the coming years. The increase of the large population is another important factor in the promotion of the biosimilar market. The emergence of non-patented organic products is also one of the key factors that will boost the growth of the biosimilar market in the future. These medications are relatively profitable and demand is expected to increase significantly in the years to follow. In addition, the availability of generic drugs that are affordable on the market may make sales of biosimilars difficult.
The main limitation of the manufacturers is to establish the biological similarity by means of a characterization of the in-depth analysis. Also, large investments in R & D, long-term development processes and profitable scale demands limit the growth of the Asia Pacific biosimilars market.
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Asia Pacific Biosimilars Market Segmentation:
Biosimilars in the Asia Pacific market are divided based on products, manufacturing and applications. By product, the market is divided into recombinant non-glycosylated proteins, recombinant peptides and recombinant glycosylated proteins. Depending on the type of manufacture, the market is classified as an organization of contract manufacturing and own manufacture. According to the application, the market is divided into the blood diseases, growth hormone deficiency, oncology, chronic and autoimmune diseases, infectious diseases and others.
Asia Pacific represented an important market share in 2017. The growing demand for less expensive therapeutic products and the high prevalence of chronic diseases in Asia Pacific are contributing to the growth of the regional market. The growing focus on product development in countries such as China, India and South Korea is another important factor that drives the market.
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Key market players:
The market is highly fragmented into several medium and large-scale enterprises. A few noteworthy players in this regional market are Amgen Inc.; F. Hoffmann-La Roche Ltd Sandoz International GmbH; Dr. Reddy's Laboratories Ltd. Teva Pharmaceutical Industry Co., Ltd; Pfizer Inc; Samsung Bio Peace; Biocon and Mylan N.V.
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