The U.S. Biosimilars Market will gain momentum from the increasing government support to adopt biosimilars in the healthcare sectors. According to a report by Fortune Business Insights, titled, “Biosimilars: U.S. Market Analysis, Insights and Forecast, 2019-2026,” The U.S. Biosimilars Industry is projected to reach US$ 17,696.0 Mn by 2026.
Key players leading the U.S. biosimilars market include
- Hoffmann-La Roche Ltd.
- AbbVie Inc.,
- Merck & Co.,
- Celltrion Inc.,
- Coherus BioSciences, Inc.,
- Teva Pharmaceutical Industries Ltd.,
- Eli Lilly
The report provides valuable insights into the drivers influencing growth of the market. As per the report, The U.S. Biosimilars Market is anticipated to report an impressive CAGR of 54.7% during the forecast period. The report also states that the U.S. market was valued at US$ 436.1 Mn in 2018.
Pfizer Inc., Samsung Bioepis Co. Ltd., and Other Key Players Tend to Focus on Product Launch to Strengthen Position
Samsung Bioepis Co. Ltd, a biopharmaceutical company, received approval from Food and Drugs Administrations for ETICOVO, a biosimilar of Etanercept in April 2019. It is used for the treatment of plaque psoriasis, rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, ankylosing spondylitis, and psoriatic arthritis. Pfizer Inc. a multinational pharmaceutical company based in the U.S., received approval from FDA for TRAZIMERA, a biosimilar referencing Herceptin in March 2019. It will be used to treat gastroesophageal junction adenocarcinoma and breast cancer. Earlier in July 2018, Pfizer Inc. announced that the company has received FDA approval for NIVESTYM. It is a biosimilar to Neupogen that is approved to treat neutropenia. The FDA also granted approval for Truxima, the first biosimilar of rituximab in November 2018. It is developed by Celltrion Inc., a biopharmaceutical company headquartered in South Korea, for the treatment of non-Hodgkin’s lymphoma.
Autoimmune Diseases Segment Projected to Dominate the Market in the U.S.
The U.S. biosimilars market is classified into three segments, namely, by distribution channel, by disease indication, and by drug class. By distribution channel, the market is grouped into online pharmacy, hospital pharmacy, and retail pharmacy. In terms of disease indication, the market is divided into cancer and autoimmune diseases such as arthritis, neutropenia, psoriasis, and others. In 2018, the autoimmune diseases held a market share of 92.0%. The segment is anticipated to remain in the leading position the U.S. biosimilars market during the forecast period. Factors like increasing adoption of biosimilars, rise in the prevalence of autoimmune diseases, and availability of limited drugs are likely to boost the segment.
By Drug Class
- Filgrastim & Pegfilgrastim
- Monoclonal Antibodies
By Disease Indication
- Autoimmune Diseases
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
More Trending Topics From Fortune Business [email protected]