The increasing prevalence of biosimilars will have a noticeably negative
impact on the biologics market beyond 2019, despite an initial
projected Compound Annual Growth Rate (CAGR) of 8.3%, taking the overall
biologics market value from $162 billion in 2013 to more than $262
billion by 2019, says research and consulting firm GlobalData.The company’s latest report states that patent expirations of branded biologics and the introduction of clearer regulatory frameworks for biosimilars after 2019 will see the latter capturing the market share from biologics.
Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, says: “There are a number of factors driving the initiative towards the global adoption of biosimilars, from austerity measures and slow economic growth in the US, to an aging population and increasing demand for healthcare in countries such as Japan.
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