San Francisco, 23 October 2018 - The global biosimilars market size is expected to reach a value of USD 61.47 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 34.2% over the forecast period. Major biological drugs are approaching the patent cliff. This is the most significant driving factor for the market. For instance, Roche’s MabThera/Rituxan (rituximab), a monoclonal antibody biologics was approved by the U.S. Food and Drug Administration (FDA) in November 1997 and its U.S. patent expired in September 2016. Several companies such as Amgen, Boehringer Ingelheim, and Pfizer are focusing on development of biosimilar drug of rituximab.
Furthermore, lower cost of biosimilars compared to patented biologics and positive outcomes in clinical trials are expected to boost market growth. For instance, in July 2016; Allergan plc and Amgen stated results from a Phase 3 clinical study of ABP 980 compared with trastuzumab, a recombinant DNA-derived humanized monoclonal antibody. This drug was approved for early and metastatic breast cancer and metastatic gastric cancer in many regions. Currently, there is a boom in pharmaceutical industry for the development of biosimilar drugs, which is a cost-saving alternative to biologic drugs. Amgen Inc.; Sandoz International GmbH; Teva Pharmaceutical Industries Ltd.; Pfizer Inc.; Biocon; Samsung Bioepis; and Mylan N.V are some of the companies focusing on the development and production of biosimilars.
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Further key findings from the report suggest:
- In 2016, recombinant non-glycosylated protein was the largest revenue-grossing segment in the biosimilars market owing to prevalence of growth hormone deficiency and diabetes and other chronic diseases
- Recombinant glycosylated protein segment is expected to grow at significant rate during the forecast period owing to demand for erythropoietin and monoclonal antibodies for treatment of cancer and anemia
- Oncology accounted for the largest share in application segment in 2016 due to increasing adoption of low cost biosimilar drugs for cancer treatment
- Europe was the leading regional segment in terms of revenue share in 2016 owing to favorable regulatory policies
- North America is expected to witness the highest CAGR during the forecast period owing to high prevalence of chronic diseases and rising number of drug approvals
- Some of the major players are Amgen Inc.; F. Hoffmann-La Roche Ltd.; Sandoz International GmbH; Dr. Reddy’s Laboratories Ltd.; Teva Pharmaceutical Industries Ltd.; Pfizer Inc.; Samsung Bioepis; Biocon; and Mylan N.V.
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Grand View Research has segmented the global biosimilars market on the basis of product, application, and region:
Biosimilars Product Outlook (Revenue, USD Million, 2014 - 2025)
- Recombinant Non-glycosylated Proteins
- Human Growth Hormones
- Granulocyte Colony-stimulating Factor (G-CSF)
- Interferons
- Insulin
- Recombinant Glycosylated Proteins
- Erythropoietin
- Monoclonal Antibodies
- Follitropin
Biosimilars Application Outlook (Revenue, USD Million, 2014 - 2025)
- Oncology
- Blood Disorders
- Growth Hormonal Deficiency
- Chronic and Autoimmune Disorders
- Others
Biosimilars Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- US.
- Canada
- Europe
- Germany
- UK.
- Asia Pacific
- China
- India
- ROW
Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-biosimilars-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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