Biosimilars Market Projected to Have a Stable Growth for the Next Few Yearsby Pramod Kumar Digital Marketing Professional
The market is majorly driven by rising prevalence of chronic diseases,
increasing investment in research and development (R&D) activities by
biopharmaceutical companies, extensive pipeline of biosimilars, growing geriatric
population, and inexpensive nature of biosimilars as compared to reference
On the basis of technology, the biosimilars market is categorized into
five categories, such as monoclonal antibody (mAb), recombinant
deoxyribonucleic acid (rDNA), bioassays, nuclear magnetic resonance (NMR), and
electrophoresis. Biosimilars manufactured using mAb technology held the largest
share, of 56%, in 2018. This technology is also expected to be the fastest
growing category in the market, owing to large development of therapeutics with
the help of this technology for various diseases such as cancer, immunological,
and infectious diseases.
Moreover, companies in North America are more independent for pricing
their products as compared to other regions, and trained scientific personnel
and advanced technologies are readily accessible in North America, which make
the region more suitable for pharmaceutical companies.
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New product launches and strategic collaborations play an important
role in expansion of the biosimilars market. For instance, Amgen Inc. and
EnteraBio Ltd. announced a collaboration to develop orally-administered
formulation of biologics in 2018. This shows that companies are willing to
invest in biologics, which in turn, is expected to be a major driving factor
for the growth of the market.
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In another strategic move, Celltrion Inc. in partnership with Teva
Pharmaceutical Industries Ltd. announced the approval of Herceptin’s
biosimilar, Herzuma, in October 2016. As a result, both companies got benefit
from the sales of Herzuma. Also, Amgen Inc., Sandoz International GmbH, Samsung
Bioepis, and Mylan N.V. jointly launched adalimumab in 2018 in the European
biosimilars market and they are expected to launch this biosimilar in the U.S.
market by 2023.
Some of the key players in the global biosimilars market are AMEGA Biotech,
Samsung Bioepis Co. Ltd., Coherus BioSciences Inc., Synthon Holding B.V.,
BIOCAD, Zydus Cadila, Celltrion Inc., Dr. Reddy’s Laboratories Ltd., Teva
Pharmaceutical Industries Limited, Novartis AG, Pfizer Inc., and Mylan N.V.
Created on Jun 20th 2019 01:11. Viewed 610 times.