Overall healthcare costs are rising owing to the high-priced pharmaceutical drugs, particularly biologics. Government bodies worldwide are concentrating on lower-priced drug synthesis. The United States spends the most on healthcare and is therefore, working on cutting down on the same. Likewise, price regulations in India and Japan for reducing the health budget have bolstered the demand for cost containment.

This scenario has thrown light on the requirement for new affordable and effective therapeutics, which can be favorable for the biosimilars industry in subsequent years. Market Research Future (MRFR) expects the biosimilars market to thrive at a rate of 7.5% from 2020 to 2027 (analysis period).

Popular biological drugs are edging towards patent cliff and this can mean substantial profits for the global market. oncology biosimilars, especially compared to the patented biologics and successful outcomes during clinical trials should also benefit the global market. The expanding pharmaceutical sector focused on developing biosimilar drugs can be another key growth booster in the near future.

Market Segmentation

Biosimilars industry can be considered with respect to product, applications, and end users.

By Products- wise

recombinant glycosylated proteins
recombinant peptides
recombinant non-glycosylated proteins

By Application-wise

caters to chronic diseases
oncology
blood disorders
autoimmune diseases
infectious diseases
growth hormone deficiency
Others

By End users

Hospitals
Clinics
Research institutes

Key Vendors

Top manufacturers of biosimilars in the global industry include Stada Arzneimittel AG (Germany), Teva Pharmaceuticals (Israel), Biocon (India), Pfizer (US), Sandoz International (Germany), Eli Lily & Company (US), Actavis, Inc. (US), Dr. Reddy’s Laboratories (India), Cipla Ltd (India), Amgen, Inc. (US), Samsung Biologics (South Korea), Hospira Inc.(US), Mylan, Inc.(US), Celltrion (South Korea), to mention a few.

Regional Status

Europe, MEA or Middle East & Africa along with the Americas, APAC or Asia Pacific are the primary markets for biosimilars.

The North American market displays a bright outlook and can emerge quite lucrative in the coming years, in view of the surging burden of chronic ailments in Canada and the United States. The rising spending on research activities by the healthcare agencies also fuels the market expansion in the region. Favorable reimbursement landscape in the region, especially in the US, encourages healthy competition as it results in lower incentives for the players to compete based on price.

Europe has taken the lead in the global market, as the region houses a vast elderly pool, with close to one fifth of the overall EU population aged more than 65 years. This has given way to several lifestyle-related disorders such as oncology, autoimmune diseases, diabetes, to name a few.

Presumably, the scenario has raised the demand for biosimilars and can mean higher market growth over the next few years. In addition to this, numerous blockbuster biologics are on track to lose patent in the coming years, which should present lucrative opportunities to the biosimilar manufacturers.

The APAC market is slated to witness considerable growth, with China, South Korea and India offering a host of lucrative opportunities for drug development as well as commercialization. These are generics-driven countries and are known for frequently launching new and advanced manufacturing platforms, which has brought down the costs associated with biosimilar production. In the coming few years, majority of the patent expiries is touted to be in biosimilars, which is deemed as a profitable aspect by leading manufacturers and can translate into substantial market growth.

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