Biosimilars Market To Reach USD 44.56 Billion By 2026
Market Summary High target disease prevalence, product launches, emerging market players, and drug development pressure on pharmaceuticals due to upcoming patent expiries are key factors contributing to high CAGR of Biosimilars during forecast period. Market Size – USD 5.10 Billion in 2018, Market Growth - CAGR of 30.8%, Market Trends – Product launches and research for advanced Biosimilars According to the current analysis of Reports and Data, the global Biosimilars market was valued at USD 5.10 Billion in 2018 and is expected to reach USD 44.56 Billion by year 2026, at a CAGR of 30.8%. Biosimilar are alternatives to existing patented, and approved biologicss and possess similar medicinal properties as compared to the original biologics. The biosimilars vary a little from original biologics in terms of structure but must have similar safety and efficacy as compared to the originator biologics. Biosimilars development does not require Phase II clinical trial for approval and the focus is put on determination of ‘biosimilarity’ to the reference originator biologics. Thus it has much reduced clinical development timelines and reduced product costs as compared to use of original biologics.
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Further key findings from the report suggest • Recombinant Peptides segment was estimated to account for USD 501.00 million in 2018 and is expected to grow reach USD 4.38 Billion by year 2026. • As of 2018, Recombinant Non-glycosylated Proteins is the dominating Biosimilars which holds over 60% of the global market. European regional market is the chief revenue generating source for this product segment, followed by North America and Asia-Pacific regions. • Biosimilars market is growing at a CAGR of 2% in Asia Pacific followed by North America and Europe, with 21.0% and 31.4% CAGR, respectively. High chronic disease prevalence across the globe is the key factor to accelerate the market growth during forecast period across all regions. • Recombinant Glycosylated Proteins is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 33.4%. However, regulatory obstacles and manufacturing complexity are major challenge for the market growth of this market segment. • Some regions such as U.S. and Latin America are facing slow adoption of biosimilars due to stringent regulatory framework..
Market Summary Key Players: Amgen, Biocon, Celltrion, Dr. Reddy's Laboratories, Mylan, Pfizer, Samsung Biologics, Sandoz, Stada Arzneimittel, and Teva Pahrmaceutical. Segmentation: For the purpose of this report, Reports and Data has segmented the Biosimilars market on the basis of type, disease type, and region: Type (Revenue, USD Million; 2016–2026) • Recombinant Non-glycosylated Proteins Disease Type (Revenue, USD Million; 2016–2026) • Oncology • Blood Disorders • Chronic Diseases • Autoimmune Diseases • Growth Hormone Deficiency • Infectious Diseases • Other Diseases
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Market Summary Disease Type (Revenue, USD Million; 2016–2026) • Oncology • Blood Disorders • Chronic Diseases • Autoimmune Diseases • Growth Hormone Deficiency • Infectious Diseases • Other Diseases Regional Outlook (Revenue in USD Million; 2016–2026) • North America • Europe • Asia Pacific • Middle East & Africa • Latin America
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The report emphasizes the following key questions: Q.1.What are the most lucrative and promising growth prospects for the market? Q.2.Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? Q.3.Which geographies are estimated to exhibit the highest growth and the underlying causes? Q.4.Which factors are impacting the future of the market and what are the driving factors?
Q.5.What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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