Noida, UP -- (SBWire) -- 10/13/2014 --With around 40% of the biologic sales to be off-patent by 2015, biosimilars represent a huge opportunity area for companies. In 2013, the global biosimilar market stood at around US$ 1 Billion. Though the current biosimilars market is small, future of the market looks optimistic on factors including the need for affordable healthcare and rising clarity in regulatory frameworks in the US and emerging countires of India, China and South Korea. Backed by these factors among others, the market is expected to grow to around US$ 6 Billion by 2018.
According to our latest research report, “Global Biosimilar Market Outlook 2018”, although the current biosimilars market is small, the future looks optimistic due to the immense government support for the industry. Emerging markets will play the role of a major driver on the biosimilar market. This can be attributed to the local policies and the biosimilar attitude of these regions. The governments in these economies are also the realizing this potential and encouraging the growth of biosimilars by defining clear regulatory pathways for their smooth approval.
In our report, we have segmented the biosimilars market into various categories such as EPO, HGH, IFN, mAb, Insulin and G-CSF. Each market has been analyzed in terms of major approved biosimilars, drug pipeline, and the impact of patent expiries of important biologics. Similarly, major geographies are also discussed. The regulatory scenario of all the economies has been presented.
At the end, major players based in key economies have been profiled. A brief business overview of these players is given alongwith approved biosimilar products and the ones in the pipeline. Overall, the report will help provide a good understanding of the market and the recent trends that are prevailing.
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About RNCOS
RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
Global Bosimilar Market to Be Worth US$ 5.85 Billion by 2018
‘Major blockbuster drugs that will go off patent will serve as a major influence on the biosimilar market which will be worth US$ 5.85 by 2018’, says RNCOS.