The global Biosimilars Market size is expected to grow from USD 35.8 billion by 2025 from USD 11.9 billion in 2020, at a CAGR of 24.9%.
Major lead role in biosimilars in the market consist of Roche, Eli Lilly, Sanofi-Aventis, Amgen, Novo Nordisk, AbbVie, Merck, Pfizer, Johnson & Johnson, Novartis, Gelgen, Ganlee, 3sbio, Innovent, Biotech and Changchun High Tech.
Originator insulin makers Eli Lilly and Novo Nordisk have both announced the introduction of additional reduced cost insulin options for patients. Novo Nordisk announced on 2 January 2020 that it was launching its My$99Insulin Program, biosimilar versions of its insulin products and an ‘Immediate Supply’ option. Via the My$99Insulin programme, patients can purchase up to three vials or two packs of FlexPen/FlexTouch/Penfill pens of any combination of insulins from Novo Nordisk for US$99. The Immediate Supply option, on the other hand, is a new, immediate, one-time insulin supply option available for people facing an acute need when more time is needed to identify a long-term sustainable solution.
Oct 2020 Biocon, which launched an insulin glargine product on the US market in August, reported increased revenue of $238 million for the quarter just ended, driven by 11% growth in biosimilar sales, as well as growth in research services (12%) and generics revenue (8%). The net profit was $23.6 million. Revenue for the company’s biosimilar products totaled $91.5 million, up from $82.2 million. Biocon has commercialized biosimilar versions of trastuzumab, pegfilgrastim, bevacizumab, and adalimumab in markets around the world. Besides insulin glargine, it also produces rh-insulin. Same month Biosimilar competition for Roche added up to a $3.83 billion reduction in sales in the first 9 months of 2020, contributing to a sales decline of 4% in the United States for the pharmaceutical giant. Roche had a 1% overall decrease in pharmaceutical sales, stating that the coronavirus disease 2019 (COVID-19) pandemic also had a significant effect on revenues for the 9-month period.
Oct 2020 news -Medicure said it has entered an agreement with Reliance Life Sciences (RLS) to market an unnamed cardiovascular biosimilar. Medicure, a Canadian company based in Winnipeg, Alberta, referred to the biosimilar candidate only as “the product.” The agreement gives Medicure exclusive rights to market the agent in the United States, Canada, and the European Union. The first FDA approval for a biosimilar in 2020 was for Pfizer's pegfilgrastim product (Nyvepria). Nyvepria is the fourth biosimilar referencing Amgen's Neulasta to be approved in the United States. Pfizer plans to launch Nyvepria later this year on the US market but has not released an exact date.
Future Of Biosimilars: the rise of the CSO (Contract Sales Organization), which is even being used by well-established branded players. Branded and biosimilar companies’ central focus is now on utilization management, efficiencies, and flexibility. After all, the sales force is a necessary enabling function of the product, but it is not the biologic or biosimilar product itself. This move to CSOs allows for greater flexibility when developing strategy and portfolio strategy. Companies can select products with lower sales and marketing (S&M) costs. As biosimilar companies begin the hard work of evaluating future pipeline products, Rathore acknowledged that some products will be harder to manufacture than others. But that may not be grounds for eliminating them as a solid biosimilar development candidate especially should a company have continuous processing or some other innovative technology under its belt. The harder a product is to make, the fewer companies that may be willing to tackle them.
Based on the product, the biosimilars market industry is segmented into insulin, monoclonal antibodies, recombinant human growth hormone, granulocyte colony-stimulating factor, interferon, erythropoietin, etanercept, follitropin, glucagon, calcitonin, and teriparatide and enoxaparin sodium. Based on application it includes Oncology, Blood Disorders, and Growth Hormonal Deficiency, Chronic and Autoimmune Disorders and Others. On the basis of region market has segmented into North America, Europe, Asia-Pacific and Row. Geographically, the biosimilars market is dominated by Europe and followed by Asia Pacific in 2020. However, the Asia Pacific region is estimated to grow at the fastest rate during forecast to period. The rising aging population, coupled with the massive demand for cost-effective alternative pharmaceuticals, will drive the market in the region over the forecast period. By 2020 total savings across the main European countries and the US have been estimated to between €49bn and €98bn.