Noida, India (PressExposure) July 26, 2011 -- As per our new research report, "Global Biosimilars Market Analysis", the acceptability of biosimilars is very high in the Indian domestic market. Factors that are working favorably for Indian biosimilar companies are the relative cost advantage of biosimilar development compared to their competitors elsewhere; hence reducing appeal of imported biosimilars and relatively lowering of regulatory requirements for establishing bioequivalence.
Our study indicates that over 40 biologics are marketed in India, of which, around 25 are biosimilars that are manufactured locally. In addition, another 25 biosimilar products are in the final stages of development. It is expected that the Indian biosimilars market will grow at a double-digit CAGR during 2008-2012.
Besides, we have conducted thorough research and prudent analysis of Global Biosimilars market and identified some critical factors acting as a catalyst for the industry's current and future growth outlook. The report reveals that the global biosimilars market is anticipated to grow at a CAGR of around 52% during 2010-2015. Market growth will be driven by upcoming patent expiries and the rising drugs bill that will encourage payers to address the barriers to biosimilars' access in order to control costs. As the governments and private players have stepped in the industry across various geographical locations, the future prospects of the market shows immense opportunities to tap on.
The report reveals that as many biologic patents are in the way to face expirations in the coming years, it is expected that many private players will pour in their investments as well as their interests in developing biosimilars versions. Also, considerable positive regulatory developments will be observed in the sector that will be a result of the mounting pressure from governments, insurers and patients groups to reduce costs.
"Global Biosimilars Market Analysis", provides extensive information and rational analysis of the global biosimilars market. It has thoroughly examined current market drivers & restraints, industrial developments, and competitive landscapes to enable clients understand the market structure and its progress in the coming years. The report also provides an insight into different biosimilars marketed products along with country-wise analysis to present an overview of the developments taking place in the global biosimilars industry. Further, a review of product introductions/innovations and recent industry activity has also been covered in the report.
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