Major players in the oral biologics and biosimilar market are Novartis, Rani Therapeutics, Eli Lilly and Co. , AstraZeneca plc, Novo Nordisk A/S, Biocon Limited, Oramed Pharmaceuticals, BiosanaPharma, Entera Bio Ltd.
New York, April 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oral Biologics & Biosimilar Drugs Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06065185/?utm_source=GNW
and Allergan plc.
The global oral biologics & biosimilar drugs market is expected to grow from $3.53 billion in 2020 to $4.1 billion in 2021 at a compound annual growth rate (CAGR) of 16.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.69 billion in 2025 at a CAGR of 21%.
The oral biologics and biosimilar market consist of sales of oral biologics and biosimilar products and related services used to treat chronic diseases such as diabetes, arthritis, cancer.Biologics are drugs made from living cells using highly complex technology while biosimilars are created to function similarly to biologics but are not identical to biologics.
Biosimilars offer active properties as any licensed biologic drug. The oral biologics and biosimilar market comprise of biologics and biosimilar drugs taken orally for the targeted treatment of Alzheimer’s, multiple sclerosis, HIV/AIDS and other serious conditions.
North America was the largest region in the global oral biologics & biosimilar drugs market, accounting for 46% of the market in 2019.Asia Pacific was the second largest region accounting for 24% of the global regional preview market.
Eastern Europe was the smallest region in the global oral biologics & biosimilar drugs market.
The oral biologics and biosimilar market covered inthis report is segmented by therapy into lymphocyte modulators, interleukin inhibitors, tumor necrosis factor-alpha inhibitors. It is also segmetned by disease into asthma, crohn’s disease, carcinoma, arthritis, diabetes, multiple myeloma, enterocolitis, multiple sclerosis, sarcoma, psoriasis and others, by molecule type into vaccines, proteins & peptides, monoclonal antibodies, others and by distribution channel into hospital pharmacies, retail pharmacies, online pharmacies
Stringent regulations imposed on approval of biosimilar is anticipated to hinder the growth of oral biologics and biosimilar market in the forecast period.The governments of different regions impose different rules regarding the production and use of biologics and biosimilars.
Further, issues such as patent infringement or agreement issues restrict the manufacturers of biologics and biosimilars from commercializing the government-approved biosimilars.The US Food and Drug Administration requires a double regulatory approval for biosimilars, restricting the use of biosimilars as an interchangeable drug to biologics whereas, in Europe, the European Medicines Agency (EMA) approves biosimilars as interchangeable products for biologics.
In February 2019, out of the total 17 approved biosimilars only 7 biosimilars including 4 originating biologics could enter the US commercial market. The robust government policies for approval of these drugs impact the manufacturers in oral biologics and biosimilar market.
The latest trend in the oral biologics and biosimilar market is the creation of new insulin biosimilars.The key players operating in the oral biologics and biosimilar market are investing in creating a biosimilar copy of insulin.
This is also promoting competition among various biosimilar manufacturers.Following the trend, Mylan, a USA based pharmaceuticals company, in partnership with Biocon launched biosimilar insulin glargine named Semglee, in 2019 in Australia.
Biocon is an Indian based biopharmaceutical company.In 2019, Oramed Pharmaceuticals, a Jerusalem based pharmaceutical company developed an oral insulin drug named ORMD-0801 to treat type 2 diabetes.
Thus, companies in the oral biologics and biosimilar market are investing in the trend of developing biosimilar of insulin to gain profit.
The rising prevalence of chronic diseases such as arthritis, asthma, cancer is expected to be a major driver of the oral biologics and biosimilar market.Long working hours, limited physical activity, unhealthy eating and drinking habits contribute to the prevalence of chronic diseases and biologics are increasingly used to treat these chronic diseases.
Biologics activate the immune system response against cancer cells thus helping the immune system to eliminate the cancer cells from the body.According to a United Nations article, by 2030 the proportion of global deaths due to chronic diseases is expected to increase to 70% of total deaths.
The global burden of chronic disease is expected to reach about 60%. Therefore, the rise in the prevalence of chronic diseases is projected to propel the demand for biologics and biosimilars, thus driving the biologics and biosimilar market.
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