Global Biosimilars Market Expected to Reach $ 36 Billion by 2022

U.S. poses challenges for biosimilars, consultant argues

The global biosimilar market is expected to be worth $36 billion by 2022,  according to a report issued by consultant Netscribes.

The global market intelligence and content management firm takes a close look at the market favorability for biosimilars across developed, BRIC (Brazil, Russia, India and China), and MIST (Mexico, Indonesia, South Korea and Turkey) countries, the number of players in the biologic and biosimilar market, the number of autoimmune biosimilars in the pipeline, region-wise share of biologic sales, and more.

Some of the major findings include:

  • With a cumulative share of nearly 85%, North America, Europe, and Japan are the major contributors to global biological and biosimilar sales. Asia and Africa account for 13.2% and 1.2%, respectively.
  • Pfizer is the leading player in the biologic market, with sales of nearly $45.9 billion in 2016, followed by Novartis ($41.6 billion) and Roche ($39.6 billion).
  • Netscribes predicts approvals of around 16 to 20 biosimilars between 2018 to 2021 in both the U.S. and European Union.
  • The U.S. is not a favorable market for biosimilars for a number of reasons, such as poor access to biologics and an unconducive regulatory environment.
  • South Africa is one of the best-suited markets for biosimilars due to a favorable regulatory environment and prescriber acceptance.

Source: Netscribes; July 26, 2017.