Market Analysis - Biosimilars 2017
Biosimilars 2017 focuses upon “ Innovative and strategic approach for uptake of Biosimilars in the market”. This biologics meeting focuses on the trends which the biosimilar markets is heading on since its launch till the present date and moving on to the projections in future.
At 2021 the global market of biosimilars is envisage to reach USD 10.90 Billion. Previously it was USD 3.39 Billion in 2016. From 2015 to 2020 the global biosimlar market expected to reach CAGR of 49.1%. This opinion covers knowledge on biosimilars that are prepared for market purpose in obedience with the European Medical Association, U.S. FDA and other regulatory authorities. Extreme factors behind this growth are escalating requirement for bio similar drugs because of their worthwhileness, increasing old aged people, pressure to lessen the spending’s on health care, and high expenditure on biologics.
Segments: Oncology, auto immune diseases, infectious diseases, diabetes mellitus, glycoprotein hormone diseases, endocrine disorders and other some other applications are segments of biosimilars. By considering this all of this oncology is envisage to reach most CAGR during further period.
Regions: According to region, biosimilars can be divided into North America Europe, and Asia. Important members of the market of biosimilars comprise Hospira, Amgen, Teva, Sandoz International GMBH, Dr. Reddy’s Lab., Biocon, Celltrion, Catalent, Mylan and Merck.
Over the previous several years, biologics have improved momentous traction in the pharmaceutical industry, illustrating beyond $150 billion in global sales in 2013. And hope to generate $290 billion in revenue constitute 27% of the pharmaceutical market by 2020. 48% of sales arrive from 11 biologics that aspect loss of individuality. Analysts envisage the worldwide market of biosimilars by 2020 to grasp $25-$35 billion. Since the biosimilars approval in the EU in 2006, there are at present more than 700 biosimilars accepted world widely. In dominant markets like the European Union, regulators and payers have perceived the probable financial asset of biosimilars over the mentioned products. In the U.S alone, the cost preserving from diverting to biosimilars are expected to be between $40v and $250 billion over the following 10 years, with the 1st biosimilars to shot the US market project about $5-7billion in preserving.
Fig. 1: Factors affecting biosimilars market penetration
Biological drugs consists similar clinical properties in points of assurance, capability, efficacy, and pureness by analyzed to the authentic biologic drug. Global market of biosimilars is predicted to developed at their rapid pace as blockbuster biologics are accessing patent termination; and thus , and construct enormous potential for the comparable biological medicinal products. The U.S. and APAC markets present beneficial growth opportunities for the related biological medicinal products industry, which is predicted to develop at a momentous rate in the coming years.
Brand name biologic are as worth as about $100,000 per patient. Biosimilars on the contrary can be afford at a 30-40% curtailed than that of the brand name product. However considering all the achieving stories and opportunities there also lies a significant 50% failure rate in progressing and achieving towards marketing of biosimilars.
The U.S. holds the biggest share of the global biologics market value and produces half of the share value advancement as well. The European Union accounts for 22% of the sales on market value and 14% of its value growth. In contrast, arriving markets perform just a silver of the sales pie, which contains 7.5% share. Thus, biologics market advancement is still broadly consumed by sophisticated markets. The global biologics market had attains $170 billion in sales figure in 2012, occupying 18% of the overall market. The 5 top 10 global products in terms of sales volume are biologic’s; on 2008 it was two only.
Roughly twenty percent of the biologics and biosimilars in the global R&D pipelines are facing challenges to fall in line with the regulatory instructions.
This term of the Biosimilars will look into the forth coming days and FDA drive that have already been declared to having enlarged tracking and follow-up of post marketing examination problems, prepared improvements in AERS, and pilots of new post market drug-monitoring action and ADR relavant problems. Biosimilar instructions for pharmacovigilance practice and pharmacoepidemiology are the marks that shall be grab attention in this session.
The market in the APAC region for biosimilars in 2010 was $605 million and $683 million in 2011. By 2016 the market is predicted to reach $1.1 billion, a CAGR of 10.3%. The market in the U.S. for biosimilars reached $507 million in 2010 and $1.1 billion in 2011. The market is predicted to reach $1.3 billion by 2016, a CAGR of 4.1%.
The global Biosimilars market is envisage to reach $26.5Billion by 2020 increasing at a CAGR of 49.1% from 2015 to 2020 whereas The global biosimilars market alone is nearly to reach $6.22 Billion by 2020 from $2.29 Billion in 2015, at a compound annual growth rate (CAGR) of 22.1% from 2015 to 2020.
The global biosimilars market is influenced by Europe, pursued by Asia-Pacific, Rest of the World (Row), and North America. However, the Asia-Pacific region is likely to witness the highest growth rate during the projection period.
The global biosimilar market is increasing at an epidemic rate. The CAGR from 2015 to 2020 is predicted at over 22%. The biosimilar market is habitual to be around $6.2 billion by 2020 from only $2.3 billion in 2015. By the end of this decade the biosimilar would confidently cover 27% of the total pharmaceutical market. Moreover, with the global rise in concern for more accessible-developed- cost friendly healthcare, biosimilar drugs would be a relevant choice to the payers, end users, manufacturers over the valuable reference biologics.