Datamonitor: Biosimilar market will reach $3.7bn in 2015
Posted by Edward Endicott on Tue, Mar 22, 2011 @ 09:27 AM
The global biosimilars market will grow from $243m in 2010 to $3.7bn in 2015 according to latest research by Datamonitor in their report "Pharmaceutical Key Trends 2011 – Biosimilar Market Overview".
More than 30 branded biologics with sales of $51bn set to lose patent exclusivity between 2011 and 2015, and uptake of biosimilar versions will drive market growth.
Mark H
ollis, healthcare analyst at Datamonitor, comments: “With the market shares of first-generation biologic drugs stagnating or declining, biosimilar monoclonal antibodies (MAbs) and second-generation biosimilars represent a high-value proposition for biosimilar manufacturers and key drivers for future growth”.
“However, despite the introduction of biosimilar approval pathways in the US, EU and Japan, the growing use of biologics and the need for more cost-effective treatments, there remain a large number of barriers to achieving commercial success in developed markets.”
Nevertheless, although existing biosimilar players have the advantage of an established reputation and relationships with key stakeholders, branded pharma companies are increasingly looking to biosimilars as one route to drive sales going forward, using partnership and M&A deals to achieve their goals.
Consequently, Datamonitor argues that the future biosimilars market in the US, EU and Japan will continue to remain dominated by the existing biosimilars players, with the addition of select branded pharma companies. Furthermore, emerging market biosimilar players are now looking to expand into global markets too, through partnerships with international pharma companies.
For more information on the "Pharmaceutical Key Trends 2011 - Biosimilar Market Overview", please click here.