Portland, OR -- (SBWire) -- 02/22/2018 --Pharmaceutical companies interested in investing into biosimilars market are now focusing on the agreement and acquisitions, in order to expand their presence in biosimilars market. Recently, the Pfizer has acquired Hospira, a global leader in biosimilars. This acquisition has strengthen the biosimilar portfolio of Pfizer. Also, it increases the global reach of Hospira through commercial capabilities, scientific expertise of Pfizer. The key companies profiled in the report are Novartis (Sandoz), Synthon Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., LG Life Sciences, Celltrion, Biocon, Hospira, Merck Serono (Merck Group), Biogen idec, Inc., and Genentech (Roche Group).
Get PDF Brochure For Details: https://www.alliedmarketresearch.com/request-sample/700
Global biosimilars/follow-on-biologics 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. Biosimilars or follow-on-biologics are the "copied" and licensed versions of those reference biologics that have undergone patent expiration. Biosimilars development and validation with reference biologics is a crucial aspect of the overall development process. Regulations for biosimilars play a vital role in maintaining the viability and balance between original and biosimilars products. Various regulatory authorities such as EMA and FDA actively regulate the biosimilars commercialization and development.
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.
Connect to analyst: https://www.alliedmarketresearch.com/connect-to-analyst/700
The market is driven by factors such rising prevalence of chronic diseases such as cancer and diabetes supplement the growing demands of pharmaceutical drugs, especially for the high priced patented drugs. However, the market growth is limited by the high cost of reference products increases the financial burden on patients as well as reimbursement service providers. The lack in economies of scale due to lower demand is a factor that results in these high costs.
Furthermore, the growth of the biosimilars market is hampered due to the lack of regulatory guidelines, consumers brand preferences, reluctance of physicians to prescribed biosimilars and the high capital required for research and development. Countries from the European Union presently dominate the market owing to the favorable government regulations in this region. North America biosimilars market is currently witnessing restrictions due to the flexible and ineffective regulations.
Enquiry About Report: https://www.alliedmarketresearch.com/purchase-enquiry/700
Biosimilars Market to Reach $26,551.3 Million, Globally, by 2020
The commercialization of filgrastim biosimilars in the United States have brought the revolutionary changes in development of biosimilars.