NEW YORK, Nov. 10, 2016 /PRNewswire/ -- A biosimilar is a biologic product that is similar to a regulatory body approved reference product, and has no clinically meaningful differences in terms of safety and effectiveness from that reference product. Only minor differences in clinically inactive components are allowable in biosimilar products. The global biosimilars market is expected to witness a steep growth owing to the patent expiry of blockbuster biologic drugs. The ability of biosimilars to reduce healthcare costs is another driving factor for this industry. Furthermore, the recent approval of three biosimilars in the US market is providing an impetus to more biopharmaceutical companies to enter this field.
As per RNCOS report "Global Biosimilar Market Outlook 2022", the global biosimilars market is anticipated to witness a high double digit growth during 2016-2022. This report provides a detailed analysis of the current and future market scenario of the global biosimilars market. The report provides insight about the major drivers and challenges, along with the latest trends and developments impacting the industry growth. In addition, the report also highlights various opportunities available for growth of the global biosimilars market.
The global biosimilars market has been segmented on the basis of type of product. The major types of biosimilars present in the market include monoclonal antibodies, erythropoietin, insulin, G-CSF, HGH, and interferon amongst others. The report also highlights the various biosimilar drugs available in the market, and the biosimilars currently in various phases of clinical trials.
Furthermore, the global biosimilars market has also been segmented on the basis of their applications. According to the report, oncology is expected to account for the largest share in 2016 due to presence of large number of biosimilars for this indication. Based on geography, the report divides the market into Europe, Asia-Pacific, North America and Rest of the World. In 2016, Europe is expected to account for the largest share. Moreover, the report also lists down various mergers and acquisitions taking place in the global biosimilars industry.
The last section of the report discusses about the prominent players in global biosimilars market. Market share analysis of these players is also provided in the report. A brief business overview and financial information about each of these players has been provided, along with their product portfolios and clinical pipelines. The recent development of every player has also been presented in the report. Overall, the research contains exhaustive information that will help clients in formulating market strategies and assessing opportunity areas in the global biosimilars market.
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