The world biosimilars market is on trend because of the multiple indications treatment, safety and effectiveness of molecules. The increasing customer demands and maximum return on investment attract manufacturers to invest more in biosimilars as compared to biologics.
Currently, a wide range of biosimilars are available on the market to treat various diseases and disorders. In the past seven years, there’s been a drastic increase in the revenue of biosimilars worldwide, from USD 4.7 billion in 2015 to USD 22.4 billion in 2022.
Geographical Segmentation of Market
The categorization of the market has been done based on regions, indications and the competitive landscape.
The potential markets for biosimilars were North America, APAC, Europe, Latin America, Middle East and Africa.
Classification based on indications: oncology, auto-immune diseases, diabetes, growth deficiencies, blood disorders, etc. The top-leading companies in the market were Pfizer, Amgen, Sandoz, Coherus Bioscience, Samsung Bioepis, Mylan Pharmaceuticals, etc.
Pfizer was among the top companies when it came to biosimilars. From 2016 to 2020, Pfizer launched approximately nine biosimilars in different therapeutic areas, including dermatology, digestive system disease, hematology, immunology, oncology, etc. Abrilada; a biosimilar of Humira (AbbVie Inc.), Zirabev; a biosimilar of Avastin (Genentech Inc.), and Ruxience; a biosimilar of Rituxan (Biogen Inc./Genentech Inc.), were among the most common drugs that accounted for a great sales figure for Pfizer.
Amgen and Sandoz took second place by contributing four biosimilars each in different therapeutic areas. The leading biosimilars from Amgen were Amjevita, Mvasi, Avsola and Riabni. Sandoz Inc. gave tough competition to other players by developing Zarxio, Erelzi, Hyrimoz and Ziextenzo.
Coherus Bioscience, Mylan Pharma and Samsung Bioepis each launched three biosimilars in the market from 2015 to 2024.
The biosimilars developed in the therapeutic area of immunology; musculoskeletal disease; digestive system disease; dermatology are Amjevita, Yusimry, Hulio, Hadlima, Hyrimoz, Idacio, etc.
Cimerli, a biosimilar of Coherus, received approval for use in the therapeutic field of ophthalmology; endocrinology; cardiovascular disease, while Semglee, a biosimilar of Mylan was approved in the therapeutic area of endocrinology. Udenyca (Coherus Bioscience) and Fulphila (Mylan Pharma) are the biosimilars approved in the therapeutic area of hematology; chemically & environmental induced disorders.
Conclusion
Amneal Pharmaceutical, Fresenius Kabi, Eli Lilly, Kashiv Bioscience, Merck & Co., etc. were some of the other leading companies in the market known for potential biosimilars. As the biosimilars market is evolving continuously and the government is taking cost-saving initiatives, it’ll open doors to a new class of potentially cheaper lifesaving drugs for millions of people globally.
