DALLAS, July 16, 2015 /PRNewswire/ --
According to a new market research report ""Biosimilars Market, by Product [Recombinant Non-Glycosylated Proteins (Insulin, Filgrastim, Interferons, rHGH), Glycosylated (Monoclonal Antibodies, EPO), Peptides (Glucagon, Calcitonin)] & Application (Oncology, Blood Disorders) - Global Forecast to 2020", published by MarketsandMarkets, the global Biosimilars Market is expected to reach $6.22 Billion by 2020 from $2.29 Billion in 2015, at a CAGR of 22.1% from 2015 to 2020.
Browse 84 market data Tables and 39 Figures spread through 162 Pages and in-depth TOC on "Biosimilars Market"
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The report segments the Biosimilars Market on the basis of product, application, and region. Among various product types, the recombinant nonglycosylated protein segment is expected to account for the largest share of the Biosimilars Market in 2015. However, the recombinant glycosylated protein segment is expected to grow at the highest CAGR during the forecast period.
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A number of factors such as growing pressure to curtail healthcare expenditure, growing demand of biosimilar drugs due to their cost effectiveness, rising incidences of various diseases, increasing number of off-patented drugs, positive outcome in the ongoing clinical trials, and rising demand for biosimilars in different therapeutic applications such as rheumatoid arthritis and blood disorders are propelling the growth of the global biosimilars market. On the other hand, high manufacturing complexities and costs, stringent regulatory requirements in countries, and innovative strategies by biologic drug manufacturers to restrict entry of new players are restricting the growth of the global biosimilars market.
Geographically, the global Biosimilars Market is dominated by Europe, followed by Asia-Pacific, Rest of the World (RoW), and North America. However, the Asia-Pacific region is likely to witness the highest growth rate during the forecast period. Factors such as developing healthcare infrastructure, presence of a large patient population, increasing funding/investments for the development of biosimilars, and growing focus of both international and domestic players on emerging Asia-Pacific countries are stimulating the growth of the Biosimilars Market in this region.
The key players in the global Biosimilars Market include Sandoz International GmbH (Germany), Hospira, Inc. (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Dr. Reddy's Laboratories (India), Biocon Limited (India), Mylan, Inc. (U.S.), Amgen (U.S.), Celltrion Inc. (South Korea), Roche Diagnostics (Switzerland), and Merck KGaA (Germany).
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