Biosimilars are made using living cells that treat disease, by recombinant DNA technology and controlled gene expression. Most biosimilars are derived from bacteria, viruses, plants and animals.
“Asia-Pacific Biosimilars Market" research report published by Market Data Forecast estimates that the market is growing with a CAGR of 39% to reach USD 4.05 billion by 2021, from USD 0.78 billion in 2016, which amounts to a cumulative growth of USD 3.17 billion.
Biosimilar drugs are used in prevention and cure of various diseases such as rheumatoid arthritis, cancer, chronic kidney failure, oncology, diabetes, heart attacks, autoimmune diseases, growth hormone deficiency, and infectious disease.
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Biosimilars are emerging as one of the most important sector in the healthcare industry. With increasing healthcare costs, biosimilars are being looked upon as an affordable treatment option.
Growing economies are observing comprehensive growth in biosimilars industry from demanding clinical needs of therapeutics. Rise in GDP and healthcare expenditures, and the demand for cost effective therapeutics solution has resulted in the growth of this market.
Biosimilars offer a cheaper alternative for other biological and synthetic drugs.
The report also presents detailed analysis of multitude of factors affecting Asia-Pacific Biosimilars Market bearing either positive or negative outcomes. Some of those factors are
- Low manufacturing expenses,
- Availability of skilled and cheap labour,
- Lenient regulations laid by governments.
- Low costs of biosimilars attract consumers to use these products over synthetic and biological drugs in the Asian countries.
- Increased co-operation between manufacturing companies
- Outsourcing of biosimilar products
- Availability of low priced generic drugs
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For granular level understanding the Asia-Pacific Biosimilars Market is segmented based on product types each being provided with Market Size Estimations and Y-o-Y Forecasts. Based on product types, biosimilars are classified into Protein, Insulin, Human Growth Hormones, Granulocyte Colony-stimulating Factor (G-CSF), Interferons, Recombinant Glycosylated Proteins, Erythropoietin, Monoclonal Antibodies, Follitropin, Recombinant Peptides, Glucagon and Calcitonin.
Their applications include chronic and autoimmune diseases, blood disorders, oncology disease along with growth hormone deficiency.,
Based on geography the Asia-Pacific market is segmented into various regions namely Japan, China, India and Australia. India and China are estimated to grow the fastest.
Other countries such as South Korea are also expected to record high growth over the next five years. India is one of the largest hubs for the biosimilar industry and observes a presence of over 30 leading firms that operate in the development of biosimilars, some of which include Dr Reddy’s Laboratories, Wockhardt, Lupin, Cipla, Avesthagen, Biocon, and Zydus Cadilla.
Some of the major players in the biosimilars market are Sandoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd. Dr. Reddy’s Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd.
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The Asia-Pacific Biosimilars Market report offers wide-range of scope:
- Regional and country-level analysisthat provides an individual perspective of Asia-Pacific region and the aforementioned countries
- Know more about key areas of industry growth via detailed Segment-level analysison basis of product types long with market size forecasts and y-o-y estimations
- Detailed explanation of major drivers, restraints, opportunities, and challenges(DROC) that affect the market and impact the ever-shifting market dynamics
- Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics
- Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Market Outlook - Investment opportunities devised by stand in expertsto provide both individuals and organizations a strong financial foothold in the market
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