NewswireToday - /newswire/ -
London, United Kingdom, 2010/03/25 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report.
The report “Biosimilars: A Growing Market” provides a comprehensive review of the current and future market for biosimilar products.
The approaching expiry of numerous patented blockbuster biopharmaceuticals and the increasing demand from patients, insurers, and government agencies to reduce drug costs have created many opportunities in the global biosimilars market. The global biosimilars market is expected to be worth US$19.4 billion by 2014, growing at a CAGR of 89.1% from 2009 to 2014. The biosimilars market is segmented into peptides, recombinant glycosylated proteins, and recombinant non-glycosylated proteins.
Although a number of major companies have significant biological capabilities, few apart from Novartis have yet clearly developed strategies to compete in the biosimilars market.
Since Sandoz pioneered the development of biosimilar drugs in 2001 there has been a steady breakdown of regulatory resistance. However, there are considerable entry barriers hindering companies that wish to enter this field of therapeutics.
Some key findings from the report include:
• Few companies apart from Novartis have yet clearly developed strategies to compete in the biosimilars market.
• The biosimilars market segment is poorly developed but is expected to become a significant commercial segment capturing a healthy percentage share of the biologicals market.
• Many forecasts of the biosimilars market are over-optimistic, and assume a rapid resolution of the legislative impasse in the US and overlook the strength of Amgen’s patent position with respect to epoetin alfa.
• Assuming a later passing of US legislation the value of the biosimilars market segment will continue to be dominated by European sales revenues in 2012, and this is likely to account for about 0.6% of the fast-growing biologicals market.
• The anti-TNF segment offers the best commercial opportunity with the three leading products all likely to face competition from biosimilars in Europe by 2016.
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