Biosimilars Market will be Worth $3.7 Billion by 2015 - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

Biosimilars Market will be Worth $3.7 Billion by 2015


ePT--the Electronic Newsletter of Pharmaceutical Technology

The global market for biosimilars is set to grow from $243 million in 2010 to $3.7 billion in 2015, according to research from Datamonitor, an independent industry analyst company.

One of the key drivers for growth will be the loss of patent exclusivity for many branded products. More than 30 branded biologics with sales of $51 billion will lose patent exclusivity by 2015, according to a statement from Datamonitor, which will pave the way for biosimilars.

“With the market shares of first-generation biologic drugs stagnating or declining, biosimilar MAbs and second-generation biosimilars represent a high-value proposition for biosimilars manufacturers and key drivers for future growth,” Mark Hollis, healthcare analyst at Datamonitor, explained in the statement.

However, Hollis also warned that there a number of barriers to achieving commercial success with biosimilars in the developed markets, even though biosimilar approval pathways are now in place in Europe, Japan and the US. In 2009, Pharmaceutical Technology Europe discussed some of these issues in our August and September issues.

According to Datamonitor, existing biosimilars are well-positioned to take advantage of the predicted market growth because they already have an industry reputation, as well as relationships with key stakeholders. However, branded pharma companies may also be looking to leap into the biosimilars arena as a way of increasing sales. Partnerships and M&As are potential ways of achieving this.

Consequently, Datamonitor believes that the future biosimilars market will continue to be dominated by existing biosimilars players, with the addition of select, branded pharma companies.  Companies in emerging markets may also make an appearance. Datamonitor adds: “Furthermore, emerging market biosimilars players are now looking to expand into global markets too, through partnerships with international pharma companies.”

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
FDASIA was signed into law two years ago. Where has the most progress been made in implementation?
Reducing drug shortages
Breakthrough designations
Protecting the supply chain
Expedited reviews of drug submissions
More stakeholder involvement
Reducing drug shortages
31%
Breakthrough designations
8%
Protecting the supply chain
42%
Expedited reviews of drug submissions
8%
More stakeholder involvement
12%
View Results
Jim Miller Outsourcing Outlook Jim Miller Health Systems Raise the Bar on Reimbursing New Drugs
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerThe Mainstreaming of Continuous Flow API Synthesis
Jill Wechsler Regulatory Watch Jill Wechsler Industry Seeks Clearer Standards for Track and Trace
Siegfried Schmitt Ask the Expert Siegfried SchmittData Integrity
Sandoz Wins Biosimilar Filing Race
NIH Translational Research Partnership Yields Promising Therapy
Clusters set to benefit from improved funding climate but IP rights are even more critical
Supplier Audit Program Marks Progress
FDA, Drug Companies Struggle with Compassionate Use Requests
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here