Pune, July 05, 2022 (GLOBE NEWSWIRE) -- The Global Biosimilars Market is expected to clock US$ ~87.12 billion by 2030 due to a robust pipeline for biosimilars and increasing demand for biosimilars. The global biosimilars market is mainly driven by their cost-effectiveness and increasing prevalence of chronic diseases i.e. cancer, diabetes, and rheumatoid arthritis are triggering the market growth. Followed by an increasing number of new pipeline products contributing to the market growth globally.
The global biosimilars market has been analyzed from four perspectives: Product, Disease Indication, Manufacturing Type and Region.
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Excerpts from ‘By Product Segmentation’
Based on the product, the biosimilars market has been divided into: -
- Recombinant non-glycosylated proteins (human growth hormone, insulin, interferons)
- Recombinant glycosylated proteins (monoclonal antibodies, follitropin, and erythropoietin)
- Recombinant peptides (calcitonin and glucagon)
Recombinant glycosylated proteins are dominating the market owing to increased prevalence of different types of cancer, increased demand for monoclonal antibodies, and high demand for cost-effective biosimilars are driving the market. Globally intake of biosimilar insulins has been slowed down while the intake of biosimilar monoclonal antibodies for treatment of cancer had been drastically increased due to affordability and low-cost treatment. For instance, In May 2022 US FDA-approved new biosimilars like Fylnetra (pegfilgrastim-pbbk), Alymsys (bevacizumab-maly), and Releuko (filgrastim-ayow) and many biosimilars that can be used to treat stomach cancer, breast cancer, colorectal cancer, and other diseases that can be used as novel treatment.
Biosimilars Market by Disease Indication
Based on disease indication, the market has been segmented into: -
- Infectious Diseases
- Oncology
- Autoimmune Diseases
- Growth Hormone Deficiency
- Blood Disorders
- Others
The autoimmune disease segment is showing the highest growth for use of biosimilars product owing to the increase prevalence of psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, Crohn’s disease and ankylosing spondylitis. Owing to the increasing geriatric population, change in lifestyle, and unhealthy diet. For instance, In, October 2021, the Center for Disease Control and Prevention released a note that about 1 in 4 US adults are doctor-diagnosed arthritis and arthritis is commonly seen in women compared with men. adults who do physical exercise and activity have fewer chances of meet arthritis. Also, the Prevalence of arthritis increases with age.
Excerpts from ‘By Region Segmentation’
Based on region, the global biosimilars market has been segmented into:-
- North America
- Europe
- Asia Pacific
- The Rest of the World (RoW)
North America holds largest market share for the biosimilar market. Owing to available healthcare infrastructure, a large portfolio of US-FDA-approved biosimilars. Europe dominated the biosimilars market. followed by Asia-Pacific. The large share of Europe in the global market can be attributed to several factors such as rising incidences of infectious diseases, rising geriatric population and presence of prominent players in this region. Moreover, biosimilars were approved in Europe since 2006 long before FDA gave a nod for biosimilars in the U.S. According to a report published by European Medicine Agency, over the past 10 years, the EU has approved the highest number of biosimilars worldwide, amassing considerable experience of their use and safety. Higher count of approved products and stronger biosimilar product pipeline by the regional players are anticipated to fuel the market during the forecasted period. followed by North America and the Asia Pacific. Growth in these regions is primarily driven by a rising incidence of chronic disorders and infectious diseases, impending patent expiry of biologic products, launch of new biosimilars, and emergence of new players.
Excerpts from ‘Competitive Landscape’
The prominent players operating in the global biosimilars market are: -
- Pfizer Inc
- Sandoz International GmbH
- Amgen Inc
- Samsung Biologics
- Biocon
- Teva Pharmaceutical Industries Ltd
- Eli Lilly and Company
- Celltrion Healthcare Co.,Ltd
- Mylan N.V
- STADA Arzneimittel AG
- Among others
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Strategic Developments
- In Dec 2021, Samsung Biologics and AstraZeneca did a partnership to expand the strategic manufacturing of cancer therapy and COVID-19
- In, June 2022 AstraZeneca, and Merck& Co. got a positive result for LYNPARZA (olaparib) as s Adjuvant Treatment for Prostate cancer and Breast cancer. Its jointly commercialized, developed, will be marketed by AstraZeneca and Merck
- In, Feb 2021, Celltrion Healthcare received approval from European Commission for adalimumab biosimilar which is the first low-volume, high concentration, and citrate-free biosimilar. It will be used for the treatment of various chronic inflammatory diseases
- In Aug 2021, Celltrion Healthcare signed a contract for supply of two anticancer drugs -Truxima® (rituximab) and Herzuma® (trastuzumab) in the Brazilian market which accounts for about 80 percent of Brazil's trastuzumab market for two consecutive years.
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