GROWTH OF BIOSIMILARS WORLD MARKET
According to projections made by research company «Hexa Research» the global market volume of biosimilars may acchive 13.1 bln USD by the year 2024. For comparison, in 2016 this market volume estimated at 3,39 bln USD.
The sought to curtail the expenditure will contribute to a positive dynamic of biosimilars world market since the growing cost of chronic conditions treatment constitutes a significant pressure on health care system. According to Hexa Research forecasts, an increase of incidence of cancer, autoimmune disorders, joint diseases and obesity will cause surge in demand for biosimilars designed to their treatment.
Analysts also predict an acceleration of the market growth after 2018 due to the expiration of patent protection for a number of biological products. For example, in 2018, the patent protection period for the Humira® brand (Adalbumumab) expires. At the same time, the number of projects to develop biosimilars is increasing. So, there are more than 50 products in the USA at the R&D stage. At the same time, the complexity and high cost of production of biosimilars and strict statutary and legal regulation serve as a deterrent of the market growth.
The world market of biosimilars is very consolidated. The lion's share of the market belongs to large players. In particular, to such as Pfizer, Teva Pharmaceutical Industries, Sandoz International.