Asia Pacific
Biosimilars Market Study Analysis:
The
Asia Pacific Biosimilars market was estimated at $1,206 million in 2018 and
is expected to reach $ 9,817 million by 2025, growing at a compound annual growth
rate of 35% over the 2018-2025 forecast period.
Asia Pacific
Biosimilars Market Growth Drivers, Challenges
and Opportunities:
The
advent of several chronic diseases around the Asia Pacific (APAC) region is increasing
the demand for biosimilars, which is expected to grow rapidly in the coming
years. The increase of the large population is another important factor in the
promotion of the biosimilar market. The emergence of non-patented organic
products are also one of the key factors that will boost the growth of the
biosimilar market in the future. These medications are relatively profitable
and demand is expected to increase significantly in the years to follow. In
addition, the availability of generic drugs that are affordable on the market
may make sales of biosimilars difficult.
The
main limitation of the manufacturers is to establish the biological similarity
by means of a characterization of the in-depth analysis. Also, large
investments in R & D, long-term development processes and profitable scale
demands limit the growth of the Asia Pacific biosimilars market.
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Asia Pacific
Biosimilars Market Segmentation:
Biosimilars
in the Asia Pacific market are divided based on products, manufacturing and applications. By
product, the market is divided into recombinant non-glycosylated proteins,
recombinant peptides and recombinant glycosylated proteins. Depending on the
type of manufacture, the market is classified as an organization of contract
manufacturing and own manufacture. According to the application, the market is
divided into blood diseases, growth hormone deficiency, oncology, chronic
and autoimmune diseases, infectious diseases and others.
Geographic
Segmentation:
Asia
Pacific represented an important market share in 2017. The growing demand for
less expensive therapeutic products and the high prevalence of chronic diseases
in the Asia Pacific are contributing to the growth of the regional market. The
growing focus on product development in countries such as China, India and
South Korea is another important factor that drives the market.
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Key market players:
The market is highly fragmented into several medium and large-scale enterprises. A
few noteworthy players in this regional market are Amgen Inc.; F. Hoffmann-La
Roche Ltd Sandoz International GmbH; Dr. Reddy's Laboratories Ltd. Teva
Pharmaceutical Industry Co., Ltd; Pfizer Inc; Samsung Bio Peace; Biocon and
Mylan N.V.
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