Biosimilars are highly similar versions of approved biological medical products. They are backed up by analytical, clinical and non-clinical testing to show that they are similar in function, structure, adequacy, and safety to their reference innovator biologic. Biological medicines are synthesized from living organisms by means or recombinant DNA technology or controlled gene expression methods.
The biological medicines exhibit high molecular complexity and are very sensitive to changes in manufacturing process. Increase in chronic inflammatory diseases (rheumatoid arthritis (RA), psoriatic arthritis, ankylosing spondylitis, adult and pediatric Crohn’s disease, adult and pediatric ulcerative colitis and plaque psoriasis), investments in research and development, rise in demand due to cost-effective biosimilar drugs & government funding and support are some of the reasons enhancing the growth of this market. “The U.S. Food and Drug Administration has approved the first biosimilar product named Zarxio in the United States”. Sandoz Inc.‘s Zarxio is a biosimilar product of Amgen Inc. ‘s Neupogen. Zarxio can be prescribed by clinicians for patients with cancer receiving myelosuppressive chemotherapy, patients with acute myeloid leukemia receiving induction or consolidation chemotherapy, patients with cancer undergoing bone marrow transplantation, patients undergoing autologous peripheral blood progenitor cell collection and therapy and patients with severe chronic neutropenia. The major players in the market include Cipla, Dr Reddy’s, Sandoz, Hospira, Wockhardt, Bioton, Biocon, Ranbaxy, Reliance Life Sciences, LG Life Sciences, 3SBio, Mylan, Roche, Amgen, etc.
For more insights visit our in-depth report on Global Biosimilars Market (2014-2020): http://mordorintelligence.com/industry-reports/global-biosimilars-market-industry