Despite Recession, Global Biosimilars Market Grew Over 40% 2010-2011, Set to Reach $3.6 Billion by 2016
FARMINGTON, Conn., June 11, 2012 /PRNewswire-iReach/ -- Despite a global recession, the market for Biosimilars grew over 40% from 2010 to 2011, and is expected to grown more than 40% again by 2016. As this market matures and competition becomes more fierce, Global Information Inc helps its customers stay on the cutting edge of the market with two new reports:
Biosimilars: Global Markets
Biosimilars are biologic drugs that are similar to - but not identical generic versions of - original biopharmaceuticals. Because biologics are highly complex molecules, it is not technically feasible to make identical copies, hence these products are not technically biogenerics. It is not possible to make exact copies of highly complex molecules. As a result, biologic drugs often enjoy market exclusivity well beyond their patent expiration making biosimilars a highly lucrative market.
Indeed, the global market for biosimilars reached grew over 40% 2010-2011, from $1.7 billion to $2.5 billion. Despite the global recession, by 2016 the market is expected to grow over 40% again, reaching $3.6 billion at a compound annual growth rate (CAGR) of 7.7%.
The APAC region shows some of the strongest growth potential, expected to grow from $683 million in 2011 to $1.1 billion by 2016, a CAGR of 10.3%.
The market in the United States for biosimilars is expected to grow more slowly, from $1.1 billion in 2011 to $1.3 billion by 2016, a CAGR of 4.1%.
Improvements in the bioprocessing and analytical testing methodologies indicate high potential for significant cost reduction in the development of biosimilars. As more blockbuster biologic drugs lose patent protection, the development of biosimilar versions is attracting increased market attention.
BCC Research's new market report, "Biosimilars: Global Markets", looks at the worldwide biosimilar pipeline and market including regulatory framework and WHO guidelines. The report also offers detailed market forecasts through 2016 by region and for various product classes.
A summary for this report and a free sample of the full document are available at http://www.giiresearch.com/report/bc242224-biosimilars-global-markets.html
Biosimilars: Global Regulatory Update
In February 2012, the FDA published draft guidelines for biosimilars approval. While incomplete, these guidelines offer developers greater certainty for the initiation of biosimilar development programs.
In their new market research report "Biosimilars: Global Regulatory Update", Datamonitor reviews the FDA biosimilar development guidelines as well as the European EMA regulatory framework on design and manufacturing, clinical and preclinical studies, and interchangeability requirements. The report also examines emerging markets such as the drug regulatory environment in Iran.
About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.
Media Contact: Jeremy Palaia Global Information, Inc., 1-860-674-8796, Press@gii.co.jp
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Posted: June 2012