Industry Analysts Find Biosimilars Market Booming Till 2024: Pfizer, Intas Pharmaceuticals, Teva Pharmaceutical, Sandoz International, Celltrion, Apotex

Biosimilars or follow-on-biologics are the "copied" and licensed versions of those reference biologics that have undergone patent expiration. Biosimilars development and validation with reference biologics is a crucial aspect of the overall development process. Regulations for biosimilars play a vital role in maintaining the viability and balance between original and biosimilars products. Various regulatory authorities such as EMA and FDA actively regulate the biosimilars commercialization and development.

The market is driven by factors such rising prevalence of chronic diseases such as cancer and diabetes supplement the growing demands of pharmaceutical drugs, especially for the high priced patented drugs. Countries from the European Union presently dominate the market owing to the favorable government regulations in this region. North America biosimilars market is currently witnessing restrictions due to the flexible and ineffective regulations.

Profiled Company Covered in This Research Report are: Pfizer, Intas Pharmaceuticals, Teva Pharmaceutical, Sandoz International, Celltrion, Apotex

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Manufacturers are the most important stakeholders for the biosimilars; pharmaceutical companies are largely focusing on the development of novel pharmaceuticals, especially for the blockbuster drugs. However, patent protections and availability of other intellectual rights are protecting these formulations from imitation. In such scenario, the pharmaceutical companies are shifting their focus over the development of biosimilars and for that these companies are adopting approval and clinical trials strategies.

Most of the lucrative products in biosimilars industries are monoclonal antibodies, G-CSF erythropoietin and peptide. These products are currently commanding the biosimilars market and have received approval for commercialization in many geographies. Companies manufacturing these biosimilars are achieving economies of scale in the market; thus, receiving cost advantage in a price sensitive market.

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Biosimilars Market Key Segments
By Types
Human growth hormone
Erythropoietin
Monoclonal antibodies
Insulin
Interferon
Granulocyte-Colony Stimulating Factor
Others

By Applications
Blood disorders
Oncology diseases
Chronic and autoimmune diseases
Growth hormone deficiencies
Others

Factors Driving The Market

? Growing pressure to reduce healthcare expenditure
? Lower cost biosimilars drugs than original biologics
? Growing demands of pharmaceutical drugs
? Supportive government initiative and awareness creating programs in the developing economies
? Expiration of major patents during the forecast period

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