The Biosimilars Market is Likely to Grow at a Compound Annual Growth Rate of 49.1% from 2015 to 2020
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The global 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 compound annual growth rate (CAGR) of 49.1% during the forecast period 2015 to 2020, according to Allied Market Research’s report.
The broad study on the global biosimilars market encompasses the market size, market share analysis, market dynamics, Porter’s analysis, value chain analysis, market forecast, market classification, and company profiles. The report is a useful source of guidance for stakeholders, new entrants, and others interested in the market as it guides them in making the required decisions to achieve growth based on their business goals. The report also includes the rigorous research methodologies used to acquire and validate data. An extensive primary and secondary market research has been adopted for extracting the data in the report.
The Porter’s Five Forces Analysis (PFFA) is offered in the study to help understand the competitive forces within the biosimilars market. The analysis is based on the bargaining power of buyers, bargaining power of suppliers, the threat of new entrants, the threat from substitutes, and industrial rivalry. Market share analysis provided in the study is based on the industry segmentation. It is valuable as it helps determine how well the players are doing in the market as compared to their competitors.
The biosimilars market report includes the drivers and challenges to explain why the market is growing or slowing down. The growing pressure to reduce healthcare expenditure, various blockbusters going off patent, the high prevalence of chronic diseases among the aging population, the favorable intervention from the developing economies, and the lower cost of biosimilar drugs than original biologics are providing opportunities for the prosperity of the biosimilars market. On the other hand, the high initial investment in research and development, stringent regulations in developed economies, and medical efficacy hinder the market growth.
A detailed segmentation of the biosimilars market report is provided based on types, applications, and geography. Based on types, the industry is classified into human growth hormone, erythropoietin, monoclonal antibodies, insulin, interferon, granulocyte-colony stimulating factor, and others. Based on application, the market is segmented into blood disorders, oncology diseases, chronic and autoimmune diseases, growth hormone deficiencies, and others. Based on geography, the biosimilars industry is segmented into North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the major market players operating in the biosimilars market. An overview of each player is provided along with insights into their operating business segments, business performance, key strategies, and SWOT (strengths, weaknesses, opportunities, threats) analysis. This information helps stakeholders understand the competitive scenario and adopt strategies to gain a competitive advantage. The top market players operating in the global biosimilars market include 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).