360 Research Reports offers the latest published report on “Global Biosimilars Market – Segmented by Product Class and Geography – Growth, Trend and Forecast (2019 – 2023)” delivering key insights and providing a competitive advantage to clients through a detailed report.
Global Biosimilars Market 2019-2023 considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align Biosimilars market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.
Biosimilars Market Segmentation by Major Players:
Pfizer inc,Eli Lilly Aand Company,Celltrion Healthcare,Mylan nv,Novartis ag,Samsung Bioepis Co ltd,Stada Arzneimittel ag,Teva Pharmaceutical Industries ltd,Intas Pharmaceuticals ltd, LG Life Sciences
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Overview of Biosimilars Market Report:
The global biosimilar market has been estimated at USD 3474.01 million in 2017. The market is expected to register a CAGR of 43.8% during the forecast period, 2019 to 2023. North America accounted for the largest market share, accounting for approximately 30% of the global market share in 2017, while Asia-Pacific region was estimated to register the fastest CAGR through the forecast period, 2019-2023.
Upcoming Decade to Witness Patent Expiration of Several Biopharmaceuticals
In recent past, several blockbuster biologic drugs of major pharmaceuticals companies expired such as remicade, rituxan, herceptin, Enbrel, lantus and others. In the coming decade, there would be rise in the patent expiration of several existing biological drugs such as Erbitux, Avastin, Orencia and others, which would invite many innovator companies as well as generic manufacturers to offer services specially tailored towards biosimilar. In addition, factors such as cost effectiveness nature of biosimilar, rising acceptance and adoption by various stakeholders with need of diversification in technology and business models drive the global biosimilar market.
High Investments and Longer Timelines are needed
Development and manufacture of biosimilar are more complex compared to generics. A biosimilar takes around 7 to 8 years for its development with high financial investments between USD 100 million and USD 300 million which considerably much higher than the USD 1 million to USD 5 million for generic production. In addition, the manufacturing complexity in each step involves a high degree of variability and hundreds of controlling input parameters for safety and efficacy. At the same time, factors such as lack of definitive standards for approval and adequate profitability given the greater risk with concerns regarding substitutability and interchangeability, many companies are discouraged in investing in this market which impedes the growth of biosimilar market.
North America to Dominate the Market Growth
The global biosimilar market is segmented by products class and geography. By geography, it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America accounted for the largest market share, accounting for approximately 30% of the global market share in 2017. The market for North America is highly driven by the presence of many large research laboratories such as Sandoz, Amgen, Teva Pharmaceutical and others. According to a recent report, more than 40 biosimilars are under development, including approximately 20 biosimilars ready to be released into the market, and a large number of biosimilar are in pipeline. Asia Pacific is also expected to grow quickly owing to the immense economic developments and rising biotechnology companies in this region.
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Important factors that are mentioned in the Biosimilars Market report 2023…
Key Market Dynamics: The Global Biosimilars Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in a huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
Major Growth Prospects: The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
Key Market Highlights: The report gives us an in-depth Market analysis on some of the Biosimilars Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
Potential Customers: The Biosimilars Market report provides significant insights to readers, service providers, suppliers, distributors, manufacturers, stakeholders, and individuals who are interested in evaluation and self-studying the Biosimilars market.