Dublin, Nov. 09, 2021 (GLOBE NEWSWIRE) -- The "Global Biosimilars Market by Product (Monoclonal antibodies (infliximab, rituximab, trastuzumab), Insulin, Interferon, Etanercept, Glucagon, Calcitonin), Indication (Oncology, Chronic Disease, Blood Disorder, Autoimmune Disease), Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global biosimilars market is projected to reach USD 44.7 billion by 2026 from USD 15.6 billion in 2021, at a CAGR of 23.5% during the forecast period of 2021 to 2026.
Market growth is largely driven by the rising incidence of chronic diseases and increasing demand of biosimilars for their cost-effectiveness. Regulatory approvals and other regulations favouring biosimilars adoption in different countries is also a major driving factor in the biosimilars market. However, the complexities in the development and manufacturing of biosimilars and resistance from reference biologic manufacturers is expected to restrain the growth of this market during the forecast period.
The monoclonal antibodies product segment accounted for the highest growth rate in the biosimilars market, by product, during the forecast period
In 2020, the monoclonal antibodies product segment accounted for the largest share (27.5%) of the biosimilars market, mainly due to the low prices of biosimilar monoclonal antibodies compared to the reference drugs and their wide use in the treatment of cancer, autoimmune disorders, and osteoporosis. They are also used in indications such as rheumatoid arthritis, multiple sclerosis, and macular degeneration. The growth of the fastest-growing segment was attributed to the rising incidence of cancer cases and chronic diseases and growth in the geriatric population.
Oncology segment accounted for the largest share of the indication segment
Based on the indication, the biosimilars market is segmented into oncology, inflammatory and autoimmune diseases, chronic diseases, blood disorders, growth hormone deficiency, infectious diseases, and other indications (infertility, hypoglycemia, myocardial infarction, postmenopausal osteoporosis, chronic kidney failure, and ophthalmic diseases). Oncology is the largest segment in this market owing to the availability of biosimilars at a lower price than innovative biologics and a large number of cancer patients.
The availability of biosimilars in the field of oncology has lowered prices and made cancer treatment more affordable and accessible. Also, due to the high incidence and prevalence of cancer, healthcare systems across the globe are focusing on reducing the burden of cancer by adopting cost effective treatment options. In this scenario, biosimilar drugs might witness widespread adoption in major markets such as the US, Europe, and the Asia Pacific. Considering these factors and the upending competition from biosimilars, many major biologic pharmaceutical companies are making significant investments in the development and approval of biosimilar drugs.
Asia Pacific: The fastest-growing region in the biosimilars market
The biosimilars market is segmented into Europe, Asia Pacific, North America, Latin America and Middle East and Africa. The APAC market, on the other hand, is expected to be the fastest-growing regional segment during the forecast period due to the presence of many emerging players, less-stringent regulations, and increasing cooperation among leading and regional players for development, manufacture and commercialization of biosimilars.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Biosimilars Market Overview
4.2 North America: Biosimilars Market, by Product and Country (2020)
4.3 Geographical Snapshot of the Biosimilars Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Biosimilar Drugs due to Their Cost-Effectiveness
5.2.1.2 Rising Geriatric Population and the Increasing Incidence of Chronic Diseases
5.2.1.3 Abbreviated Regulatory Approval Process and Concept of Interchangeability
5.2.2 Restraints
5.2.2.1 Complexities in Manufacturing
5.2.2.2 Resistance from Biologics Manufacturers
5.2.3 Opportunities
5.2.3.1 Emerging Markets
5.2.3.2 Patent Expiry of Blockbuster Biologics and Research on New Indications
5.2.4 Challenges
5.2.4.1 Excess Competition
5.2.5 Trends
5.2.5.1 Collaborations for Biosimilar Research and Clinical Trials
5.3 COVID-19 Impact Analysis
5.4 Technology Analysis
5.5 Value Chain Analysis
5.6 Ecosystem Market Map
5.7 Supply Chain Analysis
5.8 Porter's Five Forces Analysis
5.8.1 Threat from New Entrants
5.8.2 Threat from Substitutes
5.8.3 Bargaining Power of Suppliers
5.8.4 Bargaining Power of Buyers
5.8.5 Intensity of Competition Rivalry
5.9 Regulatory Landscape
6 Biosimilars Market, by Product
6.1 Introduction
6.2 Monoclonal Antibodies
6.2.1 Infliximab
6.2.1.1 Infliximab Accounted for the Largest Share of the Monoclonal Antibodies Market
6.2.2 Trastuzumab
6.2.2.1 Rising Incidence of Cancer to Drive Market Growth
6.2.3 Rituximab
6.2.3.1 Rising Incidence of Autoimmune Diseases and Cancer are Key Drivers for Market Growth
6.2.4 Adalimumab
6.2.4.1 Adalimumab to Register the Highest CAGR in the Monoclonal Antibodies Market
6.2.5 Other Monoclonal Antibodies
6.3 Insulin
6.3.1 Increasing Incidence of Diabetes to Support Market Growth
6.4 Granulocyte Colony-Stimulating Factor
6.4.1 G-Csf is Used to Treat Cancer Patients with Neutropenia Occurring After Chemotherapy
6.5 Erythropoietin
6.5.1 Rising Incidence of Blood Disorders Will Drive Market Growth
6.6 Recombinant Human Growth Hormone
6.6.1 Market Growth is Driven Primarily by the Increasing Incidence of Growth Deficiency Disorders
6.7 Etanercept
6.7.1 APAC to Witness the Highest Growth in the Etanercept Market During the Forecast Period
6.8 Follitropin
6.8.1 Increasing Application of Follitropin in Infertility Treatment to Drive Market Growth
6.9 Teriparatide
6.9.1 Increasing Incidence of Osteoporosis is the Major Factor Driving Market Growth
6.10 Interferons
6.10.1 Rising Incidence of Infectious Diseases to Support Market Growth
6.11 Enoxaparin Sodium
6.11.1 Wide Range of Applications Have Supported the Demand for Enoxaparin Sodium Biosimilars
6.12 Glucagon
6.12.1 Sandoz is a Major Player in the Glucagon Biosimilars Market
6.13 Calcitonin
6.13.1 Increasing Incidence of Osteoporosis to Drive Market Growth
7 Biosimilars Market, by Indication
7.1 Introduction
7.2 Oncology
7.2.1 Rising Burden of Cancer to Drive the Demand for Biosimilars
7.3 Inflammatory & Autoimmune Diseases
7.3.1 Changes in Lifestyle and Environmental Conditions Have Increased the Incidence of Inflammatory & Autoimmune Diseases
7.4 Chronic Diseases
7.4.1 High Burden of Cvd & Diabetes Worldwide to Drive Market Growth
7.5 Blood Disorders
7.5.1 Increasing Incidence of Blood Disorders Has Increased the Demand for Biosimilars for this Indication Segment
7.6 Growth Hormone Deficiency
7.6.1 Growing Use of Biosimilars for the Treatment of this Medical Condition to Support Market Growth
7.7 Infectious Diseases
7.7.1 Biosimilars Market for Infectious Diseases is Expected to be the Highest in the Asia-Pacific
7.8 Other Indications
8 Biosimilars Market, by Region
9 Competitive Landscape
9.1 Introduction
9.2 Right-To-Win Approach
9.3 Revenue Share Analysis of Key Market Players
9.4 Market Share Analysis
9.5 Company Evaluation Quadrant
9.5.1 Stars
9.5.2 Emerging Leaders
9.5.3 Pervasive Players
9.5.4 Participants
9.6 Company Evaluation Quadrant: Start-Ups/Smes
9.6.1 Progressive Companies
9.6.2 Starting Blocks
9.6.3 Responsive Companies
9.6.4 Dynamic Companies
9.7 Competitive Benchmarking
9.7.1 Company Product Footprint
9.7.2 Company Indication Footprint
9.7.3 Company Regional Footprint
9.8 Growth Strategies Adopted by Emerging and Key Players
9.8.1 Product Launches & Approvals
9.8.2 Deals
9.8.3 Other Developments
10 Company Profiles
10.1 Major Players
10.1.1 Novartis Ag
10.1.2 Pfizer Inc.
10.1.3 Dr. Reddy's Laboratories Ltd.
10.1.4 Amgen Inc.
10.1.5 Eli Lilly and Company
10.1.6 Teva Pharmaceutical Industries Ltd.
10.1.7 Fresenius Se & Co. KGaA
10.1.8 Stada Arzneimittel Ag
10.1.9 Boehringer Ingelheim
10.1.10 Gedeon Richter plc
10.1.11 Celltrion
10.1.12 Samsung Biologics
10.1.13 Coherus Biosciences
10.1.14 Biocon Limited
10.1.15 Viatris
10.2 Other Players
10.2.1 Amega Biotech
10.2.2 Apotex Inc.
10.2.3 Biocad
10.2.4 Mabxience
10.2.5 Probiomed S.A. De C.V.
10.2.6 Fujifilm Kyowa Kirin Biologics Co., Ltd.
10.2.7 Intas Pharmaceuticals Ltd.
10.2.8 Theramex
10.2.9 Reliance Life Sciences
10.2.10 Kashiv Biosciences
11 Appendix
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