
The global biosimilars market size was valued at 3.39 billion in 2016 and is expected to grow on account of increasing prevalence of chronic diseases such as cancer and autoimmune disorders. Additionally, increasing prevalence of arthritic disorder and obesity across the globe in geriatric population is anticipated to drive the demand for biosimilar over the study period.
The industry for biosimilars is expected to show lucrative growth after 2018 due to the expiry of various patents during the period. For instance, a patent for Adalimumab by the brand name Humira is expiring in 2018. Additionally, biosimilars are cost effective compared to their counterpart (biologics) which in turn is expected to boost the industry over the forecast period. Globally, increasing cost of cancer treatment is placing a noticeable burden on healthcare systems, largely a result of costly biologics, where an increasing inclination towards biosimilars is being observed.
Details
- Publication Date
- May 7, 2018
- Language
- English
- Category
- Science & Medicine
- Copyright
- All Rights Reserved - Standard Copyright License
- Contributors
- By (author): susan hill
Specifications
- Format