Biosimilars: A Global Strategic Business Report
San Jose, CA (Vocus/PRWEB) February 14, 2011
Biosimilars have remained a controversial subject in the global pharmaceutical industry, and continue to remain so even in the current environment. However, with the sector promising significant cost savings to the industry, several major markets are welcoming biosimilar legislations for the development of biosimilars. Consequently, biosimilars are expected to grow into a multi-billion dollar market in future. The already expired patents of biologics, such as Epogen, Neupogen and Enbrel, and the near term patent expiry of the currently leading biologics, such as Herceptin and Avastin, would help the global biosimilars market gain traction and expand wings across the globe.
The absence of widespread legislations for biosimilars is primarily due to the complexity of biological drugs, as compared to the small molecule drugs. Production of biosimilars is also marred with huge technological investments and other clinical entry barriers, which is not the case with generic copies of small molecule drugs. The high-cost and complex technology involved in the production of biosimilars also restricts biosimilar companies from offering huge price discounts. As a result, a well-established regulatory framework, as seen in most countries for the approval of small molecule generics, is conspicuously absent in case of biosimilars, except in Europe and Japan, and recently in the US. The regulatory agencies, across the rest of world, have been adopting a rather slow approach to frame a clear set of guidelines for the approval of biosimilar products, precisely in view of the enormous safety and efficacy risks involved with biosimilars. The European Union, with biosimilar approval framework in place, and biologic drug categories, such as epoetin alpha, Granulocyte colony-stimulating factor, and recombinant growth hormone already approved, is far ahead of the United States, where regulatory guidelines for biosimilars have been established only recently, in 2010.
Europe represents the largest affiliate regional market for biosimilars worldwide, as stated by the new market research report on Biosimilars. Markets outside the US, Japan and Europe for biosimilars, however, collectively account for a larger share of the global Biosimilars market. Now that a regulatory framework for a pathway in approval of biosimilars is in place, the US biotech drug market is expected to experience cost competition in the following years. The biosimilars market in the US is forecast to post the fastest growth among the major markets. Biosimilars market in Japan is projected to grow at a compounded annual rate of 92.6% during the analysis period. Human Growth Hormone presently represents the largest drug class for biosimilars worldwide. However, Interferons is projected to record the fastest growth in the market through the analysis period. Sales of biosimilar Granulocyte-CSF are projected to rise at a compounded annual growth rate of 27.5% during the analysis period.
Major players profiled in the report includes Biocon Ltd., Biopartners GMBH, Cipla Ltd., Dr. Reddy's Laboratories Ltd., Hospira, Inc., Intas Biopharmaceuticals Ltd., Sandoz International GmbH, Ratiopharm GmbH, Shantha Biotechnics Ltd., Teva Pharmaceutical Industries Ltd., Wockhardt Ltd., among others.
The research report titled “Biosimilars: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the key biosimilars markets, current market trends, key growth drivers, insight into current leading and pipeline products, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for biosimilars market for the years 2008 through 2015 by the following geographic markets - US, Japan, Europe and Rest of World. The report also analyzes the global biosimilars market by the following segments- Epoetin Alpha, Granulocyte-CSF, Granulocyte Macrophage-CSF, Human Growth Hormone, Interferons and Insulin.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Biosimilars_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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