Increasing awareness about biosimilars among the patients and doctors is a major factor for the growth of
the global biosimilar market. Presence of large number of geriatric population is expected to aid the growth
of the global biosimilar market during the forecast period, as they need treatment for various chronical
illnesses. Increasing number of patients with chronic illnesses such as diabetes and cancer drive the demand
for effective patented biologics medicines. Due to the lower cost, biosimilar medicines are expected attain
more demand and drive the growth of the global biosimilar market during the forecast period. Segments
related to diabetes medicine and oncology are expected to attain faster growth during the forecast period.
Expiry of patents of various blockbuster drugs is a major factor for the growth of the global biosimilar market,
as it is expected to provide the opportunities for the smaller pharmaceutical manufacturer to produce
biosimilars in those segments. The reimbursement policies of various governments and the increasing
interests from the insurance companies are expected to make biosimilars affordable to more people and
drive the growth of the global biosimilar market. Non-original biologics and bio betters provide major
challenge to the biosimilar market. Non-original biologics are duplicate products of reference biologics found
in markets with lesser regulations or relaxed intellectual property protection. Though bio betters are
regulated, as stepwise upgrade of innovator molecules, they are finding space in the drugs market. The lack
of clear guidelines for the interchangeability or substitution of drugs with bio-similar is a restraint for the
growth of the biosimilar market. The high manufacturing cost and complexity of production, along with the
unclear regulatory policies in many countries are expected to be the major restraints for the global biosimilar
market during the forecast period. However, due to the lower prices of biosimilars, the treatment for many
diseases such as diabetes , rheumatoid arthritis and types of cancers, are anticipated to become affordable in
developing countries and it provide opportunities for major players in the global biosimilar market to expand
during the forecast period. Moreover, strategic partnerships between biosimilar manufacturers,
manufacturing of multiple biosimilar products in same production facility and outsourcing of manufacturing
to third parties are expected to help the major players to expand faster during the forecast period.
Infinium Global Research