Companies Venture into Global Biosimilar Market for Cost-effective Strategies: MarketResearchReports.Biz

Albany - New York, Nov. 23, 2015 (GLOBE NEWSWIRE) -- has added a research report on the biotechnology industry to its database. The report, titled "Global & USA BioSimilar Market Analysis To 2021; BioBetters, Erythropoietin (EPO), Human Growth Hormone (HGH), Granulocyte Colony-Stimulating Factor (G-CSF), Anti-Tumor Necrosis Factor (Anti-TNF), Monoclonal Antibodies (MAbs), Insulins, Interferons, Product Pipelines, Trends, Key Players, Regulations And Strategic Outlook", reveals the statistical details of the global biosimilar market and presents a market forecast till 2020.

According to the report, the global biosimilar market is experiencing an influx of companies trying to attain a share in the US$190-bn biologics market. The global biosimilar market will also allow the companies to create cheaper copies of reference biologics.

The report states that the E.U. possesses one of the most matured biosimilar markets. Many countries in this region have incorporated biosimilars into their healthcare industries since 2006 and hold more lenient regulatory conditions in comparison to North American nations. As a result, the E.U. already has multiple biosimilars in several domestic markets.

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The report also looks at the North America biosimilars market and predicts a large number of companies joining the region's healthcare industry, especially in the U.S. The FDA approved the first U.S. biosimilar on March 6, 2015, which was Zarxio, manufactured by Sandoz. The report states that this historical decision will create room for more biosimilar drugs to enter the U.S., which holds the world's largest biopharmaceuticals market.

The report estimates a cost benefit between 20% and 30% for companies entering the global biosimilars market. Reasons given for this include the rising medical costs of originator biologics, which cause a healthcare bill of nearly US$100,000 per patient per year. Originator biologics are slowly becoming a financial burden on both patients as well as national healthcare systems, thereby restricting the actual care a patient is supposed to receive. To aid the global biosimilars market, it is also stated in the report that a large number of patented drugs are set to see their patents expire before 2020, creating a large scope for generic and biosimilar drugs to enter the market.

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The report also includes descriptive overviews of the global biosimilars market according to industry-justified categories and segmentations. The report also includes elaborate notes on the key developers and their drugs in the market. The report has provided details on the key developers in the global biosimilars market and their focus on biologics such as Rituxan, Remicade, Neulasta, Humira, Enbrel, and Aranesp.

The report also elaborates on the 44 biosimilars that are available in the E.U. - which has 19 approved biosimilars already in use - along with the biosimilars available in countries such as India, China, and South Korea. The report further explains how the relaxed laws in developing economies have created room for the global biosimilars market over the past few years.

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