Indian Biosimilar Market Analysis — What Can We Learn?
In the recent years, several blockbuster biologic drugs of major pharmaceuticals companies, such as Remicade, Rituxan, Herceptin, Enbrel, Lantus, and others expired. In the coming decade, there would be a rise in the patent expiration of several existing biological drugs, such as Erbitux, Avastin, Orencia, and others, which would provide an opportunity for many innovator companies as well as generic manufacturers to offer services, specially tailored toward biosimilars.
In addition, factors, such as cost effectiveness nature of biosimilars, rising acceptance and adoption by various stakeholders with the need of diversification in technology and business models, growing prevelence of chronic diseases are expected to drive the global biosimilar market.
At the same time, with factors, such as lack of definitive standards for approval and adequate profitability, given the greater risk with concerns regarding substitutability and interchangeability, many companies are discouraged from investing in this market, thus impeding the growth of the market studied.
Carefully assess regulatory frameworks
Biosimilars are highly similar to the reference product in terms of safety, purity and potency, but may have minor differences in clinically inactive components. In approving biosimilars, the FDA may require that manufacturers conduct a clinical study or studies sufficient to establish safety, purity or potency in one or more uses for which the reference product is licensed and the biosimilar seeks licensure.
Applications segment of the market is segmented as Blood disorders, Growth hormonal deficiency, Chronic and autoimmune disorders, Oncology, Others. The oncology segment is dominating the global market for biosimilars in terms of revenue owing to the high prevalence of cancer including lung, liver, colorectal, stomach, breast, and blood cancer.
Why Allied Market Research?
The North American segment of the market studied is majorly driven by the presence of many large research laboratories, such as Sandoz, Amgen, Teva Pharmaceutical, and others. According to a recent report, more than 40 biosimilars are under development, including approximately 20 biosimilars ready to be released into the market, and a significant number of biosimilars are in the pipeline.
Owing to the immense economic developments and booming biotechnology companies in the region, Asia-Pacific is also expected to record robust growth over the forecast period.
There is massive competition in the Biosimilar market.
With the presence of many domestic and also international market players. Most of the market players are adopting various growth strategies such as acquisitions, partnerships, new product launches to survive in the market.
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Customize Report. Market Overview In the recent years, several blockbuster biologic drugs of major pharmaceuticals companies, such as Remicade, Rituxan, Herceptin, Enbrel, Lantus, and others expired.
Click here. Key Market Trends Oncology segment holds the major share in global bio similar market Applications segment of the market is segmented as Blood disorders, Growth hormonal deficiency, Chronic and autoimmune disorders, Oncology, Others.
Competitive Landscape There is massive competition in the Biosimilar market. Table Of Contents 1.
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The Basics of Biosimilars
North America. Asia Pacific. Middle East and Africa. South America.