The global biosimilars market is expected to reach USD 10.90 billion by 2021 from USD 3.39 billion in 2016, at a CAGR of 26.3%. The biosimilars market is broadly classified into product, manufacturing type, application, and region. On the basis of product, the biosimilars market is segmented into recombinant non-glycosylated proteins, recombinant glycosylated proteins, and recombinant peptides.
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The recombinant non-glycosylated proteins segment is estimated to account for the largest share of the biosimilars market, in 2016. Factors such as new product launches, cost-effectiveness, growing incidence of diabetes, and presence of many biosimilar versions of insulin in the pipeline are driving growth in this market.
On the basis of manufacturing type, the market is segmented into in-house manufacturing and contract manufacturing organizations. The contract manufacturing organizations segment is projected to witness the highest CAGR during the forecast period.
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On the basis of application, the market is segmented into oncology, blood disorders, chronic and autoimmune diseases, growth hormone deficiency, infectious diseases, and other applications. In 2016, the oncology segment is expected to account for the largest share of the market.
Geographically, the biosimilars market is dominated by Europe, followed by Asia, North America, and the Rest of the World (RoW). Growth in the European market is attributed to the growing pressure to curtail healthcare costs, patent expiry of biologics & the arrival of new biosimilars, and the rising incidence of chronic disorders.
Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market.
The above-mentioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the market.
The key players in the biosimilars market include Pfizer Inc. (U.S.), Sandoz International GmbH (Germany), Teva Pharmaceuticals Industries Ltd.
(Israel), Amgen Inc. (U.S.), Biocon Ltd. (India), Dr. Reddy’s Laboratories Ltd.
(India), F. Hoffmann-La Roche Ltd. (Switzerland), Celltrion Inc. (South Korea), and Samsung Bioepis (South Korea).
Complete report on Biosimilars Market spread across 152 pages, profiling 12 companies and supported with 68 tables and 58 figures is now available at www.rnrmarketresearch.com/biosimil…rket-report.html
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
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