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Home » Global biosimilars market expected to reach $35 billion by 2020

Global biosimilars market expected to reach $35 billion by 2020

July 21, 2014
CenterWatch Staff

A new report by Allied Market Research (AMR), Global biosimilars/follow-on-biologics market (types, applications and geography)--Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013-2020, suggests the global biosimilars market could reach $35 billion by 2020 from the estimated $1.3 billion in 2013.

Deeper penetration with clearer regulatory pathways in developed markets and higher efficacy and safety in emerging markets will back the market growth during the forecast period.

Over 10 blockbuster biologics with annual sales of $60 billion are facing patent expiries in Europe and the U.S. in the next four years. Top pharmaceutical manufacturing brands are repositioning their strategic agendas from approvals to product launches to gain market capitalization.

"Biosimilars developers have been using emerging markets with less intellectual property protection as their launch pad for established markets" said AMR analysts. "With regulatory framework maturing in established markets, it will be easier for biosimilars manufacturers to quickly enter into such markets."

AMR said due to lower intellectual property rights protection and higher activity of regional players, the Asia Pacific region has emerged as the leader in the biosimilars market.

Widespread chronic disorders and the need for cost effective medication is driving the biosimilars commercialization. The strategic collaborations for global expansion, especially for the high potential segments such as monoclonal antibodies (mAbs) and erythropoietin, will be key to market growth; however, the strategies are persistently threatened by traditional patent-infringements. Key product segments such as follitropins, interferons and insulin biosimilars will emerge as lucrative segments in the long run.

Certain therapeutic classes such as oncology and autoimmune diseases will gain importance from biosimilars developers, as these classes will have higher room for growth due to awaited patent expiries through 2019.

AMR analysis shows biosimilars in oncology disorders currently are dominating the market due to high-priced patented drugs largely used in oncology treatments. However, biosimilars for chronic and autoimmune diseases and blood disorders are the fastest growing applications and are expecting growth during the analysis period.

AMR is a full-service market research and business-consulting wing of Allied Analytics, based in Portland, Ore.

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