Published Date : Aug 29, 2016
ALBANY, NY, Aug 29, 2016: MarketResearchReports.biz has recently announced the addition of a new market research report to its vast repository of research studies. The 152-page research report, titled “Global Biosimilars Market 2016-2020,” presents a detailed reports of the market, emphasizing on the key growth factors and opportunities in the market. The past performance and predicted figures of the global biosimilars market have been presented in the research report, along with the growth rate to provide a clear understanding of the market.
As per the research study, the global biosimilars market is projected to register a remarkable 55% CAGR between 2016 and 2020. The growing need for cost-effective treatments, increasing number of patent expiries, and reimbursement benefits for biosimilars are some of the prime factors estimated to bolster the growth of the global biosimilars market in the forecast period. In addition, the favorable government rules and regulations and promising pipeline are projected to augment the growth of the global biosimilars market in the near future. However, the risks associated with drug failures and limited availability of biosimilars are expected to curtail the growth of the market in the next few years.
On the basis of application, the global biosimilars market can be categorized into oncology, growth hormone deficiency diseases, blood disorders, and chronic and autoimmune diseases. In 2015, the blood disorders segment led the global biosimilars market with a 55% share. This segment is projected to witness rapid growth in the next few years, owing to the rise in the prevalence of blood disorders in emerging countries. Nevertheless, the introduction of alternative therapies is one of the key factors estimated to curtail the growth of the market in the coming few years.
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The global biosimilars market has been classified on the basis of end use into hospitals and retail pharmacies. In 2015, the retail pharmacies segment accounted for a 52% share in the global biosimilars market and is estimated to remain in the leading position in the next few years. The rapid growth of this segment can be attributed to the growing consumer base for biosimilars across the globe.
The global biosimilars market is moderately competitive in nature thanks to the presence of several well-established players in the market. The leading players in the market are making efforts to expand their product horizon to sustain in the market. As per the study, the competitive scenario of the global biosimilars market is estimated to become intense, thanks to rising number of mergers and acquisitions taking place across the globe.
The prominent players in the global biosimilars market include Hospira, Dr. Reddy's Laboratories, STADA, Celltrion, Teva Pharmaceuticals, Sandoz, and Biocon. Some of the other players included in the research report are Intas Pharmaceuticals, Sanofi, Hetero Drugs, Amega Biotech, Aspen, Ranbaxy Laboratories, Merck, GSK, Momenta Pharmaceuticals, Allergan, Roche Holding, Boehringer Ingelheim, and Bio Sidus.
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