BioSimilar is a bio pharmaceutical drug that has similar
property to the drug previously licensed. As the number of diseased people
increase, the demand for cheaper drugs also increases, leading to gaining
importance of the biosimilars market.
MARKET
TRENDS AND MARKET GROWTH:
Market
Driving Factors:
There are numerous reasons for the healthy growth of the
Biosimilars market. The major few being:
- 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
- Rising demand for biosimilars in different therapeutic applications such as rheumatoid arthritis and blood disorders
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Segment Wise Outlook:
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Segment Wise Outlook:
Research concludes that the Recombinant Non-Glycosylated
Protein segment of the Biosimilars Market accounted for the largest market
share in the past few years. Whereas, this segment is not expected to show the
best growth rates in the future 5-6 years. The recombinant glycosylated protein
segment is expected to grow at the highest CAGR during the forecast period,
2015-2020.
Geographical
Analysis of the Market:
The latest geographical market survey resulted that the
Biosimilars Market has been led by Europe region followed by APAC, ROW and
lastly comes North America. But future predictions, on basis of thorough market
understanding done by IndustryARC, suggest APAC to show the highest CAGR growth
rates in the forecast period 2015-2020 (with APAC countries like India and
China to forecast the maximum contribution and growth speed). 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 in this region. Other countries such as the U.S., South
Korea, and Brazil are also poised to register high growth over the next five
years, says study.
Table of contents and insights:
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Restricting Factors of the Market:
Table of contents and insights:
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Restricting Factors of the Market:
While we discussed the pros, this market also consists of
few cons like 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.
REPORT
SCOPE: Market Segmentation:
Biosimilars Market is carefully analyzed and segmented
into 5 broad types depending on the below given factors with further classifications
as well.
- By Technology: Monoclonal Antibodies Technology, Nuclear Magnetic Resonance Technology, Recombinant DNA Technology, Chromatography, Mass Spectroscopy, Electrophoresis, Western and Bioassay.
- By Product Type: Recombinant Non-Glycosylated Protein, Recombinant Glycosated Proteins and Peptides.
- Recombinant Non-Glycosylated Protein is sub divided into Human Growth Harmone, Insulin, Interferon, Granulocyte colony stimulating factor (G-CSF) and Others.
- By Application: Blood Disorders, Oncology Diseases, Chronic and autoimmune diseases, Growth hormone deficiency and Multimodal Nonlinear Optical (NLO) Imaging.
- By Landscape: Regulations in United States, Regulations in Europe, Regulation in Asia and Comparison of Biosimilar medicine guidelines.
- By Geography: Americas, Europe, APAC and ROW.
Key
Market Players:
Few of the top notable competitors out of the complete
list of 40+ companies of this market which are studied in depth and mentioned
in this research report by IndustryARC are:
- Biocon
- Mylan
- Ranbaxy
- Watson
- Actavis
- Apotex
- Stada
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