The biosimilars market report analysis the report by bio similar products (Adalimumab, Bevacizumab, Cetuximab, others), by product class and by Region.

SEATTLE, WASHINGTON, UNITED STATES, October 7, 2020 /EINPresswire.com/ -- Market Overview

The pandemic has devastated economic and public health, whereas industry has been busy finding the vaccines and supportive treatments. Industry has witnessed cross-stakeholder collaboration among academia, industry, and government for various activities such as drug re-purposing projects, antibody discovery programs vaccine research and development, and clinical trial enrollments, especially for COVID-19 patients. The COVID-19 has long-term impacts for the future biologic industry the same applicable to bio-similar makers. The developments were majorly witnessed in pharmaceutical industry, However, bio-similar developments were slow with COVID-19.

Some of the key notable developments took place in bio-similar space during the COVID-19 pandemic.
For instance, in March 2020, Samsung Bioepis has announced the approval of a 420mg multi-dose vial of its Herceptin bio-similar Ontruzant, which is cost-effective and promotes less waste. This bio-similar was already approved by the FDA in 2019 as a 150 mgsingle-dose.

In March 2020, Celltrion and Teva have launched their trastuzumab bio-similar Herzuma (trastuzumab-pkrb) inthe US, which can be used to treat breast and gastric cancer and has been approved in Canada.

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Segmentation by Product Class

Biosimilars provide opportunity for increased access and reduced costs for patients and healthcare systems. The key challenge that faced in bio-similar development is that it requires complicated reverse engineering, as biologic drugs exhibit great complexity in molecular and are sensitive to variations in manufacturing and handling. The market offers opportunities for growth in the development of biosimilars for complex mAb’s. Complex mAb’s are one of the highest selling biologics and used for treating key therapeutics including various cancers and autoimmune disorders such as rheumatoid arthritis. The bio-similars for complex mAb’s is owing to the increased upcoming patent expiry of top-selling drugs in the biologics. The competition for these bio-similar is expected to increase with many pharmaceutical companies have entered the rapidly growing mAb biosimilars market.

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Segmentation by Geography

The trends in biosimilar share some similarities across develop and emerging markets. Except United States, developed markets show greater presence and manufacturers are mainly focusing on these developed markets. Developed markets such as Europe, United States and in Japan continue to have major number of bio-similars molecules in development. The growth in developed markets is mainly due to discounts and incentives from physicians and insurance providers. Whereas in emerging markets biosimilars are still in nascent stage, with little or no presence. The slow growth is mainly due to lack of access for affordable biosimilars to the patients besides physicians are more open towards low cost therapies. As treatment rates in emerging markets for flagship biologics are still low compared to developed markets hence the adoption of biosimilars is far behind in these nations. However,strong growth is expected in most of the emerging markets as well with faster approval processes adopted by nations compared to developing nations

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Bhanu Reddy
Global Monitor
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