Visiongain published a new report on the global biosimilar market in 2013 and says the market size will reach $2.45 B, or approximately 20% higher than last year. Biosimilars now account for about 2% of the biologics market.
Monoclonal antibodies and insulin submarkets are expected to grow fastest for biosimilars over the next 10 years and should acont for 57% of the 2023 biosimilars market. Biosimilar erythropoietin and filagrastim are also expected to have increasing impact.
Said pharma industry analyst, James Evans, "Biologics are going to become so prevalent that every major company will be interested in having a stake in that expanding market."
Emerging markets, particularly China and India, have been leaders in biosimilars, accounting for the majority of global revenues in 2012. By contrast, the US, EU and Japan combined only made up 20% of the market. Visiongain predicts the pace will pick up in the developed markets from 2013 to 2017 as many of the biggest blockbuster mAbs come off patent.
Posted by Bruce Lehr May 16th 2013.