Noida, UP -- (SBWire) -- 05/13/2015 --In case of such a situation, Biosimilar drugs hold the promise to help keep biologic prices--which can be as high as US$ 1,000 per pill, under control. The potential cost savings of biosimilar drugs is huge; a Rand Institute study estimates that widespread adoption could reduce drug costs by as much as US$ 66 Billion over the next decade. According to the Congressional Budget Office, biosimilars are expected to save US$ 13 Billion over the next 10 years.
A new research study conducted by RNCOS, "Global Biosimilar Market Outlook 2020", reveals that the market, which was worth US$ 1.89 Billion in 2014, is expected to reach US$ 25.5 Billion by 2020, growing at an impressive CAGR of around 54%. The report has been divided into numerous sections that deal with the various aspects of the market.
The industry has been segmented based on the different classes of biosimilars available in the market, such as, mAbs, Insulin, Erythropoeitin (EPOs), Human Growth Hormone (HGH) and Interferons. The second segmentation divides the industry on the basis of major geographies which includes Europe, Asia-Pacific, and Others (including the US, Latin America and Middle-Eastern countries). The market is subjected to various drivers as well as challenges, which have, and will continue to mould it. The report then talks about the various applications and technological trends that have emerged in the past few years.
The report also highlights key players and their current market share in the biosimilar domain. For every player, a brief business overview, geographic revenue break up, segment wise revenue break up, along with key financials, have been provided. A strength and weakness analysis of every player has also been presented to assist the investors in developing an understanding of the strategies of the players. At the end, a section has been dedicated to the future outlook. Overall, the research contains exhaustive information that will help clients in formulating market strategies and assessing opportunity areas in the biosimilars industry.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM742.htm
Check Related REPORTS on: http://www.rncos.com/Healthcare_Industry.htm
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.
Shrinking Healthcare Budgets to Carve Way for Biosimilars
‘Such cost cutting in healthcare budgets will prove to be beneficial for the growth of biosimilars’, says RNCOS.