|Biosimilar Market Overview|
Pharmaceutical Key Trends 2011 – Biosimilar Market Overview
In 2009, the combined biosimilars market size for the US and five major European markets was $150m. With more than 30 branded biologics with sales of $51bn set to lose patent exclusivity between 2011 and 2015, Datamonitor forecasts that the global biosimilar market will grow from $243m in 2010 to $3.7bn in 2015.
Due to their complexity, cost, and development risks, biosimilar production and commercialization in developed markets is concentrated among only a handful of pharma companies, all of which are established generics players.
Despite the introduction of approval pathways in the US, EU, and Japan, the growing use of biologics, and the need for more cost-effective treatments, all of which help drive biosimilar uptake, there remain a large number of barriers to uptake.
There are relatively few factors which limit the growth of the biosimilar industry in the developing markets, although the introduction of biosimilar pathways will restrict market access to many domestic biosimilar players, while low purchasing power and a high proportion of out-of-pocket expenditure, coupled with brand loyalty, limit access.
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