European region is the leading beneficiary of biosimilars market and is attracting investors, interested in biosimilars industry

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Europe would continue to dominate the market while Asia Pacific would emerge as fastest growing region over the forecast period. biosimilars market was valued at $2,552.0 million in 2014 and is expected to reach $26,551.3 million by 2020, supported by a CAGR of 49.1% during the forecast period 2015 to 2020. 

Glycosylated proteins namely, erythropoietin and monoclonal antibodies are the leading biosimilar segments commercially available across the globe, together accounting for about one-third of the market revenue in 2014. This significant hold in the market is chiefly due to its large application in the treatment of chronic conditions such as blood related disorders, cancer, among others.

Key findings of the study: 

  • The biosimilar applications in blood disorders and oncology collectively evaluated at 61% in 2014
  • Interferon is fastest growing biosimilar, expected to grow at a CAGR of 51.1% during the forecast period
  • U.S. would find space in biosimilar market with single-digit revenue share of overall biosimilar market by 2020

European region is the leading beneficiary of biosimilars market and is attracting investors, interested in biosimilars industry. The prospects in the European region are largely supplemented by the presence of streamlined regulatory guidelines and a high level of adoption for biosimilars among physicians. The establishment of favourable regulations such as Article 10(4) of Directive 2001/83/EC by the European Medical Association (EMA) has clarified the clinical aspect of biosimilars. This standard set by EMA has attracted investors to invest into the development of biosimilars. The Asia-Pacific region projects the fastest growth rate, supplemented by the high prevalence of chronic diseases and the growing demand for economic bio-pharmaceuticals. The commercial scenario of biosimilars in North America is bleak due to the absence of regulations for approval and commercialization. However, after the launch of the first biosimilar in United States, the investors are now focusing on this region to boost their prospects.

Similar market studies published by Allied Market Research –

World Non-alcoholic Steatohepatitis (NASH) Market – The emergence of novel biomarker technologies and improvements in liver biopsy technologies are expected to bring about an evolution in the diagnosis of NASH and other fatty liver diseases. Global non-alcoholic Steatohepatitis market is expected to garner $1693.2 million by 2020 growing at a CAGR of 25.6% during 2014-2020.

World Erythropoietin Drugs Market – The global EPO drugs market is driven by increasing number of patients suffering from anemic condition induced due to cancer, HIV and ESRD treatment; favorable reimbursements and increasing commercialization of EPO biosimilars. The global EPO drugs market would reach $11.9 billion by 2020, registering CAGR of 9.7% during 2014-2020.

Read More: https://www.alliedmarketresearch.com/global-biosimilars-market

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