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Research and Markets: Global Biosimilars/Follow-on-Biologics Market 2013-2020 - Technology, Types, Applications, Services Analysis of the $35 Billion MarketDUBLIN --(Business Wire)-- Research and Markets (http://www.researchandmarkets.com/research/mxnhkg/global) has announced the addition of the "Global Biosimilars/Follow-on-Biologics Market (Technology, Types, Applications, Services and Geography) - Research Report, 2013 - 2020" report to their offering. Global biosimilars/follow-on-biologics market accounted for $1.3 billion in 2013 and it is anticipated to generate $35 billion by 2020, growing at a CAGR of 60.8% from 2014 to 2020 Regulations for biosimilars plays a vital role in maintaining the viability and balance between original and biosimilar products. Various regulatory authorities, namely EMA (News - Alert) and the U.S. FDA are actively regulating the biosimilars market. Regulations in the European union are considered benchmark around the world, as the guidelines proposed are most stringent for validation and commercialization of biosimilars. High profitability is the attractive aspect that is enticing companies to invest in the biosimilars industry. Geographically, Biosimilars market is segmented into North America, Europe, Asia-Pacific and LAMEA. Due to favorable regulatory policies designed by the European Medical Association, the European market has ben maximizing on the biosimilars market. Asia-Pacific and LAMEA market would witness a substantial rise in the use of biosimilars, as the demand for cost effective treatment is growing due to the prevalence of chronic diseases. Collaboration with local players would be a key opportunity that could be fully explored by the biosimilars manufacturers in developing economies. Many companies such as Amgen and Novartis are collaborating with Asian players to gain a foothold in the biopharmaceutical market. Europe was the first region to draft guidelines for approval of biosimilars in 2006. Nevertheless, in 2008, the first biosimilars version of Granulocyte colony-stimulating factor (G-CSF) was introduced in the European Union under the regulatory guidance of European Medical Association (EMA). Currently, there are three biosimilar versions of G-CSF available in the European market, namely Ratiograstim/Tevagrastim/Biograstim, Zarzio/Filgrastim Hexal and Nivestim/Pliva/Mayne filgrastim. Adding to the G-CSF biosimilars, the insulin biosimilars also showcase tremendous potential in the future. Scope of the Report MARKET BY TECHNOLOGY
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