HYDERABAD, India, September 30, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the biosimilars market. The report titled, "Global Biosimilars Market - Growth, Trends and Forecast," discusses the current landscape and outlook of the market.
The biosimilars market accounted for a value of USD 2.8 billion in 2015 and is estimated at USD 3.3 million in 2016. The market is expected to reach USD 7.3 billion by 2021, projecting a CAGR of 17.42% during the forecast period. The report is an amalgamation of the current market scenario, its prospects and forces driving and restraining the market growth. The report highlights the North American, European, Asia-Pacific, and Latin American and Middle East & African markets.
The high demand for biosimilars for cost-effectiveness, increasing disease burden, drugs going off-patent, increasing patient access to biologics therapy, increasing research & development for biosimilars and high demand for addressing different therapeutic conditions are the key factors propelling the growth of the market.
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The biosimilars market has been segmented based on type of product, application and geography. The segmentation based on products has been segmented into recombinant glycosylated protein, recombinant non-glycosylated protein and peptides. The various drugs such as Humira, Enbrel, Lantus and other drugs losing patent exclusivity in different regions across the world will lead to entry of biosimilars. This will be a big opportunity for players in biosimilars market.
The market is expected to grow with the highest CAGR in Asia-Pacific region. The market in Europe and North America is also expected to grow at a steady growth rate.
The leading players in this market are Hospira, Roche, Sandoz, Teva Pharmaceuticals, Amgen, Biocon, Dr. Reddy's Laboratories. Mylan and Merck.
About Mordor Intelligence:
Mordor Intelligence is a global market research and consulting firm. Our focus is to provide research insights to facilitate business success. Our research expertise covers niche segments under Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive, among others. We believe in data, and we provide solutions through it. Optimum solutions and goal-oriented strategies define our endeavors and make us the preferred choice for clients.
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SOURCE Mordor Intelligence