You are here

Global Market for Biosimilars Expected To Explode

It will nearly quadruple within the next five years, according to a new report, though concerns about how they’re manufactured remain.

The U.S. may be a little wary when it comes to approving biosimilars, but the rest of the world seems to have jumped in with both feet. The global market for biosimilars will grow from $5.95 billion this year to $23.63 billion by 2023, according to a report by ResearchAndMarkets. The reason is simple enough, they’re less costly than the reference biologic, but concerns remain about regulatory guidelines concerning how biosimilars should be manufactured.

The report states that the non-glycosylated proteins portion of the market accounted for the biggest share in 2017, but recombinant glycosylated proteins are expected to hold the largest share in the near future.

Sources: Business Wire; MedCity News

More Headlines

Agency says products for sexual enhancement, weight loss, and bodybuilding have hidden drugs and chemicals.
A meta-analysis that included 18 million participants found no protection from heart disease or stroke.
There is a small difference between them and biosimilars that physicians, patients, and insurers should be aware of.
Some of that can be chalked up to the differences in cost of living from place to place, but not all.
Health plans expected to continue pushing for value-based payment arrangements.
One of the proposed changes makes remote patient monitoring an allowable cost.
European researchers looked at arthritis’ patients reactions when being switched from etanercept or nfliximab.
Puts down $700 million to buy nearly 50% of Samsung.
The move comes even though some of the pharma company’s rivals have promised to raise prices only once a year.