25 November 2020
Visiongain has published a new report on Top 50 Biosimilar Drug Manufacturers 2021: Profiles of Top 50 Leading Biosimilar Companies and Forecasts by Product (Adalimumab, Etanercept, Trastuzumab, Infliximab, Insulin Glargine, Rituximab, Pegfilgrastim, Epoetin Alfa, Teriparatide, Bevacizumab, Insulin Lispro, Darbepoetin Alfa, Filgrastim, Enoxaparin, Eculizumab, Natalizumab, Cetuximab, Follitropin Alfa, Somatropin, Dornase Alfa). PLUS Regional Market Analysis AND COVID-19 Recovery Scenarios.
Global biosimilars market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2023. Growing demand for cost-effective drugs; rising prevalence of chronic diseases; mounting investment in drug R&D by biopharmaceutical companies; new product launches and rising acceptance of biosimilars in North America region are some of the major factors that propel the biosimilars market growth.
COVID-19 Impact on Biosimilars Market
The COVID-19 pandemic has a significant impact on the biosimilars market worldwide. There will be slight decrease in growth rate due to the COVID-19 outbreak, but we expect it will be temporary. Visiongain expect that the market will grow at lucrative rate from 2021 due to the growing demand for cost-effective biosimilar drugs and patent expiry of biologics during the forecast period 2021-2023.
The unmet medical need emerged out unexpectedly and the result was a very high demand from the market; leading to severe drug shortages and demand for less expensive drugs. Biopharmaceutical companies are expected to focus on R&D, new product launches, and strengthening of marketing & distribution network to provide relief to the pandemic hit world. .
Increase in the prevalence of chronic and autoimmune diseases including rheumatoid arthritis, multiple sclerosis, psoriasis, cancer, and others is a major factor that boosts the demand for biosimilars worldwide. In the U.S., around 8% of the population suffers from autoimmune diseases, of which 78% are women.
Biologic therapies are some of the most expensive treatments in the pharmaceutical industry, apparently costing as much as $50,000 per patient per year. Biosimilar represent a significant opportunity for the patients that need advanced drugs a low cost than biologic drugs that is projected to drive the market growth.
Biopharmaceutical companies are investing a huge amount of money in R&D of advanced biosimilars. There is a high demand for more efficient and reliable biosimilar drugs for the treatment of cancer and autoimmune diseases. In addition, the presence of reimbursement policies for covering biosimilars for the treatment of serious medical conditions is expected to boost the market growth.
The cost of chronic diseases and cancer treatment is high due to expensive biologic therapies. The impact of the global recession on government budgets, particularly in the developed markets, is resulting in the implementation of cost control measures on pharmaceutical spending. Healthcare payers are looking to cut spending by using cheaper alternatives including biosimilars that is projected to drive the market growth.
Biosimilars market is a highly consolidated market with several global players. Some of the major players operating in the market are Amgen, Sandoz -Novartis, Merck & Co., Pfizer, Eli Lilly and Company, Biogen, Teva Pharmaceuticals, Celltrion, Sanofi, Samsung Bioepis, Mylan, Fresenius Kabi, Intas Pharmaceuticals Ltd., AbbiVie, and STADA Arzneimittel AG. These companies are adopting several different strategies such as investment in R&D, M&A, collaborations, and new product launches to gain maximum revenue share in the market.
Major strategies acquired by the leading players are M&A, collaborations, new product launches, high investment in R&D, and geographical expansion. M&A and strategic collaboration helps the companies to strengthen their existing product portfolio and geographical reach. Also, it assist companies to strengthen their R&D capabilities, product pipeline, and operational network. For instance, in January 2020, Sanofi completed the acquisition of Synthorx, Inc. for US $68 per share in cash. The acquisition aligns with Sanofi’s R&D strategy to enhance their position in the area of immunology and oncology.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to email@example.com or call her on +44 (0) 20 7549 9987.
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
Over the last few years, Direct-to-Patient has gained widespread attention. DTP companies offer their customers, who are patients, in this case, all kinds of services.
21 July 2021
Rising geriatric population, increasing prevalence of chronic and infectious diseases, escalating investment in drug R&D by biopharmaceutical companies, rising demand for advanced drug delivery technologies for chronic treatment are some of the major factors that drive the growth of the global drug delivery technologies market.
20 July 2021
Pharma services companies are widening their service offerings (either organically or inorganically through M&A) to become full-service providers, simplifying their customers’ operations and gaining the maximum share of their outsourcing budgets, driven by the willingness of pharma to reduce the number of outsourcers they use.
14 July 2021
Digital innovation in clinical trials and renewed focus on home production will ensure a high growth market for supply chain optimisation.