REMICADE BIOSIMILARS MARKET ANALYSIS

Regional Analysis

Regional Insights

On the basis of region, the global Remicade biosimilar market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe holds a dominant position in the global Remicade biosimilar market and is expected to retain its dominance over the forecast period, owing to the presence of top market players in the region, rapid entry of biosimilars in the European market as well as high adoption rate due low price of the biosimilars. For instance, in 2018, Sandoz, a Novartis division received European Commission (EC) approval for Zessly (infliximab) a remicade biosimilar for use in Europe. The successive research and speedy approvals by the U.S. regulatory authorities for market entry of biosimilars in North America is expected to drive growth of the market over the forecast period. For instance, in December 2017, Pfizer, Inc. received the U.S. FDA approval for second biosimilar, Ifixi to Janssen’s blockbuster drug Remicade to treat rheumatoid arthritis.

Furthermore, Asia Pacific is expected to witness significant growth in the market over the forecast period, owing to developments in healthcare infrastructure and U.S. FDA approval of Remicade (infliximab) biosimilars by regional players to market the products internationally. For instance, in April 2016, Celltrion- a South Korea-based manufacturing company received the U.S. FDA approval for intravenously administered version of the rheumatoid arthritis drug sold under the name Infllectra. Moreover, major investments by regional players for research and development of biosimilar production is expected to drive growth of the market in Asia. For instance, in October 2016, Cipla, Inc. invested US$ 8 million to set up a manufacturing plant for biosimilars in South Africa.