Indian Biosimilars Market: By Type (Monoclonal Antibodies, Recombinant Growth Factors, Recombinant Hormones, Anti–Inflammatory Agents, Immunomodulators, Others), By Application (Oncology, Blood Disorders, Auto-Immune Diseases, Others) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Others) and By Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global biosimilars market was valued at US $ XX Mn and expected to grow at 29.5% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Outline: Indian Biosimilars Market
Biosimilars refers to the biotechnological product that is similar to already approved reference product in non-clinical, clinical and quality evaluation. Biosimilars are not treated as the generic drugs alternatively referred as follow on biologics or bio-pharmaceuticals. These are generally derived from the yeast, bacteria, animals, plants and other biological organisms. Biosimilars produced mainly by controlled gene expression or recombinant DNA technology.
Market Dynamics: Indian Biosimilars Market
Indian biosimilars market is poised to huge growth rate owing to the increase in acceptance of the biosimilars and the rise in R&D activities by the life science industries in developing the biosimilars in the market. For instance, Novartis AG has entered into collaboration with Indian biopharmaceutical company, Biocon in development and commercial multiple biosimilars in oncology and immunology. In addition, new product launches and entry of completely new market players such as Aurobind Pharma into biosimilars projected to boost the market growth over the forecast period. However, the substantial opportunity for biosimilars market is challenged by the regulatory hurdles and huge cost of development and clinical trials in different regions. This may hamper the growth of market over the forecast period.
Market Scope: Indian Biosimilars Market
Indian biosimilars market is segmented based on the type, application and distribution channel
Based on the type, the market is segmented into the following:
- Monoclonal Antibodies
- Recombinant Growth Factors
- Recombinant Hormones
- Anti –Inflammatory Agents
Based on the application, the market is segmented into the following:
- Blood Disorders
- Auto-Immune Diseases
Based on the distribution channel, the market is segmented into the following:
- Hospital Pharmacies
- Retail Pharmacies
Competition Assessment: Indian Biosimilars Market
Some of the players in the global biosimilars market include:
- Wockhardt Ltd. (India)
- Reliance Life Sciences (India)
- Intas Pharmaceuticals Limited (India)
- Reddy’s Laboratories (India)
- Torrent Pharmaceuticals Ltd. (India)
- Cipla Limited (India)
- Glenmark Pharmaceuticals (India)
Notable Market Developments: Indian Biosimilars Market
- In January 2018 Glenmark Pharmaceuticals has launched the biosimilars Adalimumab in India under the licensing agreement with Cadila Healthcare Ltd.
- In November 2017, Biocon has launched the biosimilars product KRABEVA used to treat certain types of cancer including lung, kidney, cervical, brain and ovarian cancers in India.