are expected to make biosimilars affordable to more people and drive the growth of the global biosimilar market. Nonoriginal 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.
Segments Covered:
The report segments the global biosimilar market by product, application and region. On the basis of product, the market is segmented as human growth hormones, monoclonal antibodies, insulin, peptides, erythropoietin and others. Based on application, the market is segmented as oncology, chronic and autoimmune diseases, growth hormone deficiency, infectious diseases and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. With the maximum number of approved biosimilars, European market is the major biosimilar market in the world. Countries such as France, Germany, Italy and United Kingdom drive the growth of the European biosimilar market with high demand for low cost alternatives for biologics medicines. Expiry of patents for certain biologics medicines and presence of good regulatory frameworks set up by European Medical Association are expected to aid the growth of the European biosimilar market, during the forecast period. Asia-Pacific region has significant biosimilars in use due to the relaxed regulations in various countries. Due to the presence of large population and need for low cost alternative medicines for
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