Biosimilar Pipeline Analysis MarketSize and Trends

Biosimilar Pipeline Analysis Market – Dynamics

Biosimilar market is under the initial phase of development, they are used for the treatment of various disorders such as autoimmune disease, cancer as per National Institute of Health 2012 report, there were more than 23.5 million people living with autoimmune disease in the U.S. and low pricing of biosimilar drugs make them affordable for people. High prevalence of various types of cancers and the need for affordable and effective treatment are the major factors driving growth of the biosimilar pipeline analysis market. According to the Centre for Disease Control (CDC), around 14.1 million people were diagnosed with cancer in 2012, in the U.S., resulting in around 8.2 million fatalities. Around 19.3 million new cases of cancer are projected to be diagnosed by 2025. Similarly according to the data published by World Health Organization (WHO), cancer accounted for 8.8 million of deaths worldwide in 2015.

Rising approval of biosimilars is expected to propel the market growth over the forecast period. As of January 2020, around 26 biosimilars has received U.S. Food and Drug Administration (FDA) approvals. In December, 2019, Amgen Inc., received U.S. Food and Drug Administration (FDA) approval for Avsola (infliximab-axxq) a biosimilar of Remicade, indicated for the treatment of Crohn disease, ulcerative colitis, rheumatoid arthritis and other conditions.

Biosimilar Pipeline Analysis Market – Trends