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(Medical-NewsWire.com, September 25, 2017 ) Asia-Pacific Biosimilars Market was worth $0.78 billion in 2016 and estimated to be growing at a CAGR of 39%, to reach $4.05 billion by 2021. Biosimilars are emerging as one of the most important sector in the healthcare industry. With increasing healthcare costs, biosimilars are being looked upon as an affordable treatment option. Growing economies are observing comprehensive growth in biosimilars industry from demanding clinical needs of therapeutics. Rise in GDP and healthcare expenditures, and the demand for cost effective therapeutics solution has resulted in the growth of this market.
Biosimilars are made using living cells that treat disease, by recombinant DNA technology and controlled gene expression. Most biosimilars are derived from bacteria, viruses, plants and animals. Biosimilar drugs are used in prevention and cure of various diseases such as rheumatoid arthritis, cancer, chronic kidney failure, oncology, diabetes, heart attacks, autoimmune diseases, growth hormone deficiency, and infectious disease.
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Biosimilars offer a cheaper alternative for other biological and synthetic drugs. Asia-Pacific is the fastest growing market for biosimilars because of low manufacturing expenses, availability of skilled and cheap labour, lenient regulations laid by governments. In fact, governments are encouraging the use of biosimilars. For example, the government of India provides various necessary and regulatory procedures for the usage of biosimilars products. In addition, low costs of biosimilars attract consumers to use these products over synthetic and biological drugs in the Asian countries. Increased co-operation between manufacturing companies, and the outsourcing of biosimilar products are acting as an impetus for biosimilars market. However, high manufacturing cost and complexity, and the availability of low priced generic drugs in the market are some of the major restraints of biosimilars market are facing.
Based on product types, biosimilars are classified into Protein, Insulin, Human Growth Hormones, Granulocyte Colony-stimulating Factor (G-CSF), Interferons, Recombinant Glycosylated Proteins, Erythropoietin, Monoclonal Antibodies, Follitropin, Recombinant Peptides, Glucagon and Calcitonin. Their applications include chronic and autoimmune diseases, blood disorders, oncology disease along with growth hormone deficiency.
Furthermore, based on geography the Asia-Pacific market is segmented into various regions namely Japan, China, India and Australia. India and China are estimated to grow the fastest. Other countries such as South Korea are also expected to record high growth over the next five years. India is one of the largest hubs for the biosimilar industry and observes a presence of over 30 leading firms that operate in the development of biosimilars, some of which include Dr Reddys Laboratories, Wockhardt, Lupin, Cipla, Avesthagen, Biocon, and Zydus Cadilla.
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Some of the major players in the biosimilars market are Sandoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd. Dr. Reddys Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd.
Market Segmentation
1) By Type
Protein
Insulin
Human Growth Hormones
Granulocyte Colony-stimulating Factor (G-CSF)
Interferons
Recombinant Glycosylated Proteins
Erythropoietin
Monoclonal Antibodies
Follitropin
Recombinant Peptides
Glucagon
Calcitonin
2) By Technology
Mass Spectroscopy
Chromatography
Monoclonal Antibody Technology
Recombinant DNA Technology
Nuclear magnetic resonance (NMR) technology
Electrophoresis
Bioassay
3) By Application
Oncology diseases
Blood disorders
Growth hormone deficiencies
Chronic and autoimmune diseases
Others
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Reasons to buy Asia-Pacific Biosimilars Market Research Report:
Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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