Biosimilar Pipeline Analysis Market Growth 2020 | Statistics Revenue, Share, Competitive Landscape Size, Segments, Key Vendors, Emerging Technologies and Forecast to 2026
Biosimilar is a medical product that is highly similar to the original biological product. It is approved as per the same standards of pharmaceutical quality, efficacy, and safety. Some of the authority’s bodies that regulate the approval and commercialization of drugs are U.S. Food and Drug. Biosimilar drugs are available at relatively low prices as compared to patented drugs without compromising on efficacy but they can be only manufactured when original product patent expires.
Biosimilar has a complex structure, multi-layer manufacturing, and immunogenicity risk due to which they require unique regulatory pathways for introduction in the market. They are highly effective in treating incurable diseases such as cancer and autoimmune disorders, though they are developed independently and have the same mechanism of action as patented drugs for the specific disease.
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Biosimilar pipeline analysis market taxonomy:
By Product Type
- Human Growth Hormone
- Monoclonal antibodies
- Clinical Trials
- Contract Research and Manufacturing
- Recombinant DNA Technology
- Nuclear Magnetic Resonance Technology
- Mass Spectrometry
- Western Blotting
- Oncology Disease
- Autoimmune Disease
- Blood Disease
- Growth Hormone Deficiencies
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Patent expiration and low cost of the drug is projected to fuel the biosimilar pipeline analysis market
Biosimilar market is under the initial phase of development, they are used for the treatment of various disorders such as autoimmune disease, cancer as per National Institute of Health 2012 report, more than 23.5 million people were living with an autoimmune disease in the U.S. and low pricing of biosimilar drugs make them affordable for people. Growing demand for low-cost medicine is the prime factor fueling the Various companies and their R&D departments such as Pfizer Inc., Zydus Cadila are involved in the development of biosimilar, which is under clinical trial. Pfizer’s biosimilar clinical-stage pipeline includes five monoclonal antibodies fare under clinical trial phase I and phase 3 which will be used for the treatment of autoimmune disease and oncology.
There are various patented drugs available in the market, with certain drugs such as Adalimumab, the high cost of these drugs directed the biosimilar market. There are few drugs, which are under the last phase of a clinical trial are BI695502 developed by Boehringer Ingelheim, PF- 06439535 by Pfizer, Biosimilar bevacizumab by Biocon, and FKB238 by Kyowa Pharmaceutical Industry Co. a Rising number of R&D is projected to fuel the growth of biosimilar market. On the other hand, the complex structure of the drug and lengthy processes is expected to pose challenges for market growth. biosimilar pipeline analysis market.
Developed regions are expected to support the growth of biosimilar pipeline analysis market
Global biosimilar pipeline analysis market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe is expected to dominate the biosimilar pipeline analysis market owing to the advent of advanced tehcnology in healthcare facilities and regulatory affiliation. In addition to this, Asia Pacific is projected to closely follow Europe in terms of growth due to rising prevalence of the autoimmune disease, cancer, unmet clinical needs of people, and large price-conscious population of emerging economies. The North America market is expected to grow significantly due to growing R&D investments, which is expected to supports the growth of biosimilar pipeline analysis market in the near future.
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There are various players present across the world and competing with each other extensively in the market to attain maximum share. Companies are also involved in R&D to increase the biosimilar pipeline. Some key players are Biocon, Pfizer Inc., F. Hoffmann-La Roche Ltd, Amgen Inc., Kyowa Pharmaceutical Industry Co. Ltd, Boehringer Ingelheim GmbH, AstraZeneca, Novartis AG, and Merck & Co.
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