The biosimilars market is expected to reach USD 10.90 Billion by 2021 from USD 3.39 Billion in 2016, at a CAGR of 26.3%.
The global biosimilars market is segmented on the basis of product, manufacturing type, and application. Factors such as rising incidence of various diseases, increasing demand for biosimilar drugs due to their cost-effectiveness, growing pressure to curtail healthcare expenditure, rising geriatric population, strategic collaborations resulting in enhanced productivity and clinical trial activities for biosimilars, and increasing government support and initiatives to develop and promote biosimilars are expected to drive the growth of this market.
Emerging markets and new indications and patent expiry of biologic products has opened an array of opportunities for players in the biosimilars market. However, complexities in manufacturing and innovative strategies by biologic drug manufacturers are expected to restrain the growth of this market to a certain extent during the forecast period.
Based on region, the biosimilars market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by Europe, followed by Asia, North America, and the Rest of the World (RoW). However, Asia is expected to witness the highest CAGR during the forecast period. This growth can be attributed to factors such as low per capita consumption, rapid growth in economies, rise in technological innovation, trade links, and the rise in medical tourism.
This report categorizes the biosimilars market into the following segments:
Biosimilars Market, by Product
- Recombinant Non-glycosylated Proteins
- Recombinant Human Growth Hormones
- Granulocyte Colony-stimulating Factor
- Recombinant Glycosylated Proteins
- Monoclonal Antibodies
- Recombinant Peptides
Biosimilars Market, by Manufacturing Type
- In-house Manufacturing
- Contract Manufacturing Organizations
Biosimilars Market, by Application
- Blood Disorders
- Chronic & Autoimmune Diseases
- Growth Hormone Deficiency
- Infectious Diseases
- Other Applications
- Amgen Inc.
- Biocon Ltd.
- Celltrion Inc.
- Dr. Reddy's Laboratories
- F. Hoffmann-La Roche Ltd.
- Mylan Inc.
- Pfizer Inc.
- Samsung Bioepis
- Sandoz International Gmbh (A Division of Novartis International Ag)
- Teva Pharmaceutical Industries Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/dh6xfv/biosimilars
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