Medicines known as biologics or biological products are created using living organisms through extremely intricate production procedures. They must be handled and administered under strict supervision. The term "biologics" refers to a broad range of goods, including vaccines, therapeutic proteins, monoclonal antibodies, and cell and gene therapies. Biologics are used to prevent, treat, or cure a number of illnesses, such as cancer, diabetes, cystic fibrosis, chronic kidney disease, and autoimmune disorders. Biologics are at the cutting edge of scientific and biological research and may be able to treat a variety of illnesses for which there are no other effective treatments.
A biotherapeutic product that is extremely similar to a reference biologic medication is referred to as a biosimilar, also known as a follow-on biologic. It has a complicated molecular structure and is made from living things or cells. Manufacturers rely on regulatory authority authorisation to launch the production of biosimilars when the patent on a biologic medication expires. A biological medication must be demonstrated to be identical in terms of quality, safety, and efficacy in order to be labelled as a biosimilar. Biosimilars are more expensive than generic medications because their production needs greater investment in RD and is more complicated.
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Global Biosimilar Market: Segment Analysis
Biosimilar Market segment based on Molecule
- Filgrastim
- Rituximab
Filgrastim injection is for the treatment of Neutropenia, that is low white blood cells in the body, which is caused by cancer medicines. It is a synthetic form of substance that is produced naturally in your body known as colony stimulating factor. Filgrastim helps the bone marrow in the body to make new white blood cells itself.
Rituximab is used to treat certain types of Cancer such as Non-Hodgkin’s Lymphoma and Chronic Lymphocytic Lukemia. It slows or stops the growth of cancer cells. Some products of Rituximab are also used to treat the pain of Rheumatoid Arthritis and can also decrease swelling and pain of the joints.
Segmentation based on Indication Insights
- Oncology
- Female Infertility
Oncology is the largest segment in this market due to the availability of Biosimilar at a lower price than Innovation Biologics and a large number of cancer patients. The availability of Biosimilar in Oncology has reduced the prices and made cancer treatment more accessible and affordable. Due to the high prevalence of cancer, healthcare systems across the globe are more concentrated on reducing the burden of cancer by adopting cost effective treatment options.
Biologics are too expensive and cannot be afforded by everyone. Therefore, cost-effective and new Biosimilars are being manufactured in the market. In January 2016, Teva Pharmaceutical Industries Ltd. introduced Ovaleap, a biosimilar to GONAL-f (follitropin alfa) from Merck KGaA. The low cost of Biosimilars promotes patient trust and boosts the market growth.
Segmentation based on Manufacturing
- Contract Manufacturing
- In- house Manufacturing
Based on the type of manufacturing, the market is classified into in-house manufacturing and contract manufacturing. Amongst these, in-house manufacturing holds the majority of the market share.
Top Key Players:-
- LG Life Sciences
- Fresenius SE Co. KGaA
- Pfizer, Inc.
- Hospira
- STADA Arzneimittel AG
- Reddy’s Laboratories Ltd.
- Eli Lilly and Company
- Genentech (Roche Group).
- Synthon Pharmaceuticals, Inc.
- Celltrion
- Boehringer Ingelheim
- Amgen, Inc.
- Gedeon Richter PLC
- Merck Serono (Merck Group)
- Teva Pharmaceutical Industries Ltd.
- Biocon Limited
- Samsung Biologics
- Biogen idec, Inc.
- Coherus BioSciences
- Viatris, Inc
- Fujifilm Kyowa Kirin Biologics Co., Ltd.
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Frequently Asked Questions (FAQ):
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