DUBLIN--(BUSINESS WIRE)--The "Global Biosimilars Market - Segmented by Product Class and Geography - Growth, Trend and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar market has been estimated at USD 3474.01 million in 2017. The market is expected to register a CAGR of 43.8% during the forecast period, 2018 to 2023. North America accounted for the largest market share, accounting for approximately 30% of the global market share in 2017, while Asia-Pacific region was estimated to register the fastest CAGR through the forecast period, 2018-2023.
In recent past, several blockbuster biologic drugs of major pharmaceuticals companies expired such as remicade, rituxan, herceptin, Enbrel, lantus and others. In the coming decade, there will be rise in the patent expiration of several existing biological drugs such as Erbitux, Avastin, Orencia and others, which would invite many innovator companies as well as generic manufacturers to offer services specially tailored towards biosimilar. In addition, factors such as cost effectiveness nature of biosimilar, rising acceptance and adoption by various stakeholders with need of diversification in technology and business models drive the global biosimilar market.
Key Developments in the Market
- December 2017: Pfizer received US FDA approval for infliximab biosimilar for all eligible indications
- December 2017: Mylan received US FDA approval for Ogivri, first biosimilar for trastuzumab; co-developed with Biocon
- November 2017: Samsung Bioepis Co Ltd received European Commission marketing approval for Ontruzant, biosimilar for trastuzumab, for the treatment of breast cancer
- November 2017: Samsung Bioepis Co Ltd received approval for Samfenet, a biosimilar for Herceptin to be sold in South Korea
Companies Mentioned
- Pfizer Inc
- Eli Lilly and Company
- Celltrion Healthcare
- Mylan NV
- Novartis AG
- Samsung Bioepis Co Ltd
- Stada Arzneimittel AG
- Teva Pharmaceutical Industries Ltd
- Intas Pharmaceuticals Ltd
- LG Life Sciences
Key Topics Covered
1. Introduction
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
10. Future of The Market
For more information about this report visit https://www.researchandmarkets.com/research/tdw52h/global?w=4
