Biosimilar Market: Introduction
A biotherapeutic product that is strikingly comparable to a reference biologic drug is referred to as a biosimilar or follow-on biologic. Usually, a separate firm from the one that makes the original product produces it. It is created with the aid of cells or living things. Their molecular structure is extremely intricate. When a biologic drug’s licence expires, manufacturers turn to regulatory authorities for authorisation before beginning production of Bio-Similar. Since they bear the designation “biosimilar,” a biological medication must also meet the same standards for quality, effectiveness, and safety. Compared to generic medications, Bio-Similar is more expensive since its production method is more complex and demands a bigger investment in research and development.
A biotherapeutic product that is extremely similar to a reference biologic medication is referred to as a biosimilar, also known as a follow-on biologic. It has a complicated molecular structure and is made from living things or cells. Manufacturers rely on regulatory authority authorisation to launch the production of biosimilars when the patent on a biologic medication expires. A biological medication must be demonstrated to be identical in terms of quality, safety, and efficacy in order to be labelled as a biosimilar. Biosimilars are more expensive than generic medications because their production needs greater investment in R&D and is more complicated.
Biosimilar Market: Key Trends
Adoption of Recombinant Non-Glycosylated Proteins
For the Biosimilar Market in 2018, Recombinant Non-Glycosylated Proteins attracted a sizable sales share. Biosimilar Products such as human growth hormones, insulin, interferons, and granulocyte colony-stimulating factor are recombinant non-glycosylated proteins (Filgrastim).
The efficient manufacture and marketing of these products is due to the development of technological advancements in analytical systems. The chances for biosimilar companies will improve as a result of the high demand for Filgrastim and the widespread use of insulin glargine in a number of important nations.
Potential in the treatment of Anaemia
Hematology has witnessed a significant uptake of biosimilar medications, and this application category has contributed to more than USD 4,552.1 Million in Global Remuneration for the market as a whole. According to the American Society of Hematology, anaemia has been detected in more than 3 million Americans. The widespread occurrence of diseases like anaemia and neutropenia will promote the use of biosimilars to treat these blood disorders.
80 percent of the global market for biosimilar products, including human growth hormones, erythropoietin, and insulin, are now made using recombinant DNA (rDNA) technology.
Coronavirus, often known as SARS CoV2, is an acute respiratory illness that affects the lungs. Before the outbreak in Wuhan (China) in December 2019, it was little known.
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Global Biosimilar Market: Segment Analysis
- LG Life Sciences
- Fresenius SE & Co. KGaA
- Pfizer, Inc.
- STADA Arzneimittel AG
- Reddy’s Laboratories Ltd.
- Eli Lilly and Company
- Genentech (Roche Group).
- Synthon Pharmaceuticals, Inc.
- Boehringer Ingelheim
- Amgen, Inc.
- Gedeon Richter PLC
- Merck Serono (Merck Group)
- Teva Pharmaceutical Industries Ltd.
- Biocon Limited
- Samsung Biologics
- Biogen idec, Inc.
- Coherus BioSciences
- Viatris, Inc
Biosimilar Market segment based on Molecule
Filgrastim injection is for the treatment of Neutropenia, that is low white blood cells in the body, which is caused by cancer medicines. It is a synthetic form of substance that is produced naturally in your body known as colony stimulating factor. Filgrastim helps the bone marrow in the body to make new white blood cells itself.
Segmentation based on Indication Insights
- Female Infertility
Oncology is the largest segment in this market due to the availability of Biosimilar at a lower price than Innovation Biologics and a large number of cancer patients. The availability of Biosimilar in Oncology has reduced the prices and made cancer treatment more accessible and affordable. Due to the high prevalence of cancer, healthcare systems across the globe are more concentrated on reducing the burden of cancer by adopting cost effective treatment options.
Biologics are too expensive and cannot be afforded by everyone. Therefore, cost-effective and new Biosimilars are being manufactured in the market. In January 2016, Teva Pharmaceutical Industries Ltd. introduced Ovaleap, a biosimilar to GONAL-f (follitropin alfa) from Merck KGaA. The low cost of Biosimilars promotes patient trust and boosts the market growth.
Segmentation based on Manufacturing
- Contract Manufacturing
- In- house Manufacturing
Based on the type of manufacturing, the market is classified into in-house manufacturing and contract manufacturing. Amongst these, in-house manufacturing holds the majority of the market share.
Segmentation based on Region
Region-wise, the market has been segmented into the United States, Germany, United Kingdom, France, Spain, Italy, India, Japan, South Korea and Others.
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