(PharmaNewsWire.Com, October 18, 2017 ) The Middle East and Africa Biosimilars Market was worth $0.37 billion in 2016 and estimated to be growing at a CAGR of 32%, to reach $1.63 billion by 2021. Biosimilars are emerging as one of the most important sector in the healthcare industry. With increasing healthcare costs, biosimilars are being looked upon as an affordable treatment option. Growing economies are observing comprehensive growth in biosimilars industry from demanding clinical needs of therapeutics. Rise in GDP and healthcare expenditures, and the demand for cost effective therapeutics solution has resulted in the growth of this market.
Biosimilars are made using living cells that treat disease, by recombinant DNA technology and controlled gene expression. Most biosimilars are derived from bacteria, viruses, plants and animals. Biosimilar drugs are used in prevention and cure of various diseases such as rheumatoid arthritis, cancer, chronic kidney failure, oncology, diabetes, heart attacks, autoimmune diseases, growth hormone deficiency, and infectious disease.
Biosimilars offer a cheaper alternative for other biological and synthetic drugs. The main health challenges within the Middle East and African region are beginning to reflect those in Western countries, with diabetes highly prevalent, with more than 1 in 10 adults suffering from it, and cancer-related mortality rates increasing. Economies in this region vary from country to country. While some countries in the region have been able to modify their healthcare expenditure to provide biosimilar therapies, others such as Egypt and Algeria are struggling. Government support and initiatives play a crucial role. Emerging pharmaceutical markets and lenient government regulations provide some of the major openings this is market. However, high manufacturing cost and complexity, and the availability of low priced generic drugs in the market are some of the major restraints of biosimilars market are facing.
Based on product types, biosimilars are classified into Protein, Insulin, Human Growth Hormones, Granulocyte Colony-stimulating Factor (G-CSF), Interferons, Recombinant Glycosylated Proteins, Erythropoietin, Monoclonal Antibodies, Follitropin, Recombinant Peptides, Glucagon and Calcitonin. Their applications include chronic and autoimmune diseases, blood disorders, oncology disease along with growth hormone deficiency. On the basis of geography, the Middle East & Africa market is segmented into Middle East and Africa. Awareness of biosimilars and research in the MEA region continues to grow, with the clinical trials of biosimilars already taking place in some countries, most notably Jordan. The possibility of an increase in interest in biosimilars across these nations is very likely.
Some of the major players in the biosimilars market are Sandoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd. Dr. Reddys Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd.
Market Segmentation
1) By Type Protein Insulin Human Growth Hormones Granulocyte Colony-stimulating Factor (G-CSF) Interferons Recombinant Glycosylated Proteins Erythropoietin Monoclonal Antibodies Follitropin Recombinant Peptides Glucagon Calcitonin
2) By Technology Mass Spectroscopy Chromatography Monoclonal Antibody Technology Recombinant DNA Technology Nuclear magnetic resonance (NMR) technology Electrophoresis Bioassay
3) By Application Oncology diseases Blood disorders Growth hormone deficiencies Chronic and autoimmune diseases Others
Reasons to buy Middle East and Africa Biosimilar Market Research Report:
Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analyzing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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