07 September 2016
A new report by visiongain, published in April 2016, forecasts that overall world revenues of biosimilar drugs will reach $18.42 billion in 2020. That sales expansion will continue from 2016 to 2026, with the entrance of new competitors, advances in production and patent expiry on original biological drugs. The biosimilar drugs market advances fast, especially with the opening of the US market to those medicines.
Those discussions and predictions, with many others, appear in Pharma Leader Series: 25 Top Biosimilar Drug Manufacturers, 2016-2026, and Other Rising Companies – a Market Report Assessing Developers and Producers of Those Competitor Biologics. That study reviews prominent companies producing those medicines that change the biologics industry and market. Visiongain is a business information publisher and consultancy in London, UK. Its purpose is to help organisations understand commercial prospects of industries and markets in healthcare and other fields.
Visiongain’s investigation analyses leading companies in the biosimilars industry. It provides profiles and analysis, including interviews and revenue forecasts. That work assesses companies’ biosimilar sales potentials, as well as opportunities and challenges facing competitors in that market. The report covers top biosimilars companies based in the US, Europe, Israel, China, India, the Asia-Pacific region and Latin America.
Visiongain predicts that the worldwide biosimilars market will continue to grow at a steady pace from 2016 to 2026. That revenue expansion is driven by the cost savings of biosimilars to healthcare payers and new market entrants. With patents on original biological drugs expiring, biosimilar drug producers face great opportunities for producing competing products. Adding to those events will be rising demand from developed and developing pharmaceutical markets, as their populations demand increased access to affordable healthcare. The biosimilars industry now gains momentum, changing the biological drugs market and making it more competitive.
Aanchal Verma, a pharmaceutical industry analyst in visiongain, said: “Recently, biosimilars have increasingly gained popularity. This is mainly attributed to their lower prices in comparison with the original biologics. With more and more blockbuster drugs coming off patent, the biosimilars market has experienced immense growth, which will continue further, at a rapid pace. Biosimilars give more competition and opportunities in the biological drugs market by attracting new market entrants. Those competitors include biopharma and generics specialists, as well as leading international pharmaceutical companies.
“This increased competition will prove beneficial to the biosimilars market, as it will drive innovation and lead to more-efficient methods of production with lower costs, which will help more people have access to affordable medical care. The striving for affordable healthcare has driven the biosimilars market to grow fastest in some developing countries. This has resulted in Indian and Chinese companies making their mark as leading biosimilar drug producers and competing with the capabilities of market leaders based in the developed countries for pharmaceutical production.
“Furthermore, the biosimilars market is characterised by numerous partnerships and collaborations among the well-established and rising firms, leading to overall growth in that industry through a combination of innovation and financial backing.”
In particular, visiongain’s updated survey profiles 25 leading biosimilar drug developers and producers, including these companies:
• Teva Pharmaceuticals
• STADA Arzneimittel
• Dr. Reddy’s Laboratories
• LG Life Sciences.
That study also discusses other relevant organisations, showing companies likely to become more important in future. That way the reader gains a broad analytical overview of the biosimilars industry. The analysis includes revenue prediction to 2026 for the overall biosimilars market, three interviews with companies and biosimilar revenue forecasts for five market leaders.
Pharma Leader Series: 25 Top Biosimilar Drug Manufacturers, 2016-2026, and Other Rising Companies – a Market Report Assessing Developers and Producers of Those Competitor Biologics adds to visiongain’s reports on industries and markets in healthcare. That portfolio covers pharmaceuticals, biotechnologies, medical devices, diagnostics and outsourced services. Each year many new and updated studies appear in visiongain’s catalogue.
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