Global Biosimilars Market Outlook (2018-2023): Estimated to Register a CAGR of 39.53% During 2017-2023 - ResearchAndMarkets.com
The "Global Biosimilars Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar market is estimated to register a CAGR of 39.53% over the forecast period of 2017-2023.
The growth in the market may be attributed to the cost-effectiveness of the biosimilars when compared to reference biologics coupled with the patent expiration of the many blockbuster biologic drugs.
By 2018, biologics worth more than US$68 billion annual sales will lose patent protection. Due to structural complexity of the biosimilar drugs, multi-layered manufacturing and risk of immunogenicity, separate regulatory pathways have been drafted to introduce them into the market.
Increasing investment by the companies for the development of biosimilars will also be the key factor driving the market. Recently in August 2018, Stada, a German biopharmaceutical company announced the investment of $115 million in biosimilar development by becoming a major shareholder in BioCeuticals, a venture capital-funded organization created by Stada to carry out its biosimilar programs.
Similarly, Merck, in February 2018, invested $49 million to support the growing demand with new biopharmaceutical manufacturing and distribution centers in South Korea and India, while accelerating biosimilars manufacturing and development in China. Thus, growing interest of the companies towards biosimilars will augment the market during the given time frame.
New drug launches and collaborations have also helped the companies and bolstered the market. For instance, in January 2018, Biocon and Sandoz entered into a strategic partnership to develop the next generation of biosimilars in immunology and cancer. However, stringent regulations for the development and production of biosimilars could hinder biosimilars market growth.
Key Topics Covered
2. Research Methodology
3. Key Findings
4. Market Dynamics
5. Global Biosimilars Market Forecast by Type
6. Global Biosimilars Market Forecast by Disease
7. Global Biosimilars Market Forecast by Geography
8. Competitive Intelligence
9. Company Profiles
- Samsung Bioepis
- Stada Arzneimittel AG
- Sandoz International GmbH (A Novartis Company)
- Amgen Inc.
- Apotex Inc.
- Dr. Reddy's Laboratories Ltd.
- Boehringer Ingelheim International GmbH
- Cinfa Biotech
- Biogen Internati
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View source version on businesswire.com: https://www.businesswire.com/news/home/20181030005942/en/