Psoriasis Biosimilars Market Is Forecasted to Reach an Impressive USD 26,679.9 Million by 2034, Reflecting A Robust CAGR of 11.2% | Future Market Insights, Inc.
NEWARK, Del, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The Psoriasis Biosimilars Market is expected to experience significant growth between 2024 and 2034, propelled by the increasing adoption of biosimilars due to their cost advantages over original biologics. The market, valued at USD 9,228.6 million in 2024, is forecasted to reach an impressive USD 26,679.9 million by 2034, reflecting a robust CAGR of 11.2%. This growth is largely attributed to the growing prevalence of psoriasis, which affects millions worldwide, and the rising demand for affordable therapeutic options.
With rising healthcare costs, biosimilars present a cost-effective alternative to traditional biologics, offering the same therapeutic benefits at lower prices. Psoriasis patients, in particular, benefit from the introduction of biosimilars, as these medications have proven effective in reducing symptoms and improving quality of life. The market is witnessing substantial interest from healthcare providers and payers seeking cost-efficient treatment solutions.
Another key factor driving the market is the growing focus on healthcare accessibility in emerging economies. Government initiatives to promote biosimilars are accelerating market penetration, especially in regions with a high burden of psoriasis. The increasing approval of biosimilars by regulatory bodies, such as the FDA and EMA, further supports the market's expansion.
As major pharmaceutical companies continue to invest in research and development, the number of biosimilars available for psoriasis treatment is expected to grow. This competitive landscape is likely to drive innovation and lower prices, benefiting patients and healthcare systems alike.
Understanding the Psoriasis Biosimilars Market:
The prominent driving factor in the growth of the psoriasis biosimilars market is ongoing clinical trials. These clinical trials provide important data on the safety, efficacy, and immunogenicity of pharma products with regard to their reference biologics. Clinical trials also ensure that the testing of biosimilars will allow them to meet or match stringent regulatory standards.
Thus, regulatory approval will require a series of clinical trials demonstrating that the biosimilar is indeed highly similar both in structure and function and showing equivalence in clinical outcomes to a reference biologic. These trials would, in general, include Pharmacokinetic-PK and pharmacodynamic-PD studies, followed by phase III trials in larger numbers with direct comparisons of efficacy and safety between biosimilars and biologics in the same patient population. These trials for psoriasis are conducted in patients with plaque psoriasis of moderate to severe condition.
Psoriasis Biosimilars Market: Report Scope Country-wise Insights:
| Countries | Value CAGR (2024 to 2034) | |
| USA | 7.9% | |
| Canada | 10.8% | |
| UK | 8.2% | |
| Germany | 7.7% | |
| France | 9.1% | |
| Italy | 9.7% | |
| India | 11.3% | |
| Spain | 10.4% | |
Drivers and Opportunities:
The primary driver for the Psoriasis Biosimilars Market is the rising prevalence of psoriasis globally. According to the World Health Organization, approximately 2% to 3% of the world's population is affected by this chronic autoimmune condition, leading to a significant demand for effective treatments.
Another critical driver is the cost-effectiveness of biosimilars. As healthcare systems across the world grapple with rising treatment costs, biosimilars offer an affordable alternative to biologic drugs, making treatment more accessible to a broader patient population. Additionally, growing awareness among patients and healthcare professionals about the efficacy of biosimilars is fostering greater acceptance and adoption.
Opportunities abound in emerging markets, where biosimilars are gaining traction due to lower production costs and increased governmental support. In regions such as Asia-Pacific and Latin America, there is a growing focus on improving healthcare access, making these markets fertile ground for the expansion of psoriasis biosimilars.
“The rising global incidence of psoriasis is fueling demand for cost-effective treatment options, positioning the psoriasis biosimilars market for significant growth. As the need for long-term management of this chronic condition intensifies, biosimilars present a viable alternative to high-cost biologics, offering affordability without compromising efficacy”, says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Market Study:
- The Psoriasis Biosimilars Market is expected to grow at a CAGR of 11.2% from 2024 to 2034.
- The market is projected to increase from USD 9,228.6 million in 2024 to USD 26,679.9 million by 2034.
- The growing prevalence of psoriasis and rising demand for cost-effective biologics are driving market growth.
- Emerging economies present significant opportunities for biosimilar adoption, bolstered by government initiatives.
Component Insights:
Psoriasis biosimilars are primarily used in the treatment of moderate to severe cases of psoriasis, where traditional therapies are ineffective. The market is segmented into various biosimilar products, including those targeting key inflammatory pathways like TNF-alpha inhibitors and IL-17 inhibitors. With continued advancements in biotechnology, the development of new biosimilar products is expected to diversify the treatment landscape, providing more options for patients.
The demand for TNF-alpha biosimilars, such as infliximab and adalimumab, is particularly high due to their established efficacy in managing severe cases of psoriasis. IL-17 inhibitors are also gaining ground as new biosimilars are introduced into the market.
Market's Prime Determinants of Growth, Trends, and Opportunities:
- Rising Prevalence of Psoriasis: With a growing number of people diagnosed with psoriasis worldwide, the demand for effective treatments continues to rise.
- Cost-Effectiveness of Biosimilars: Biosimilars offer significant cost savings compared to original biologics, making them an attractive option for healthcare systems and patients alike.
- Regulatory Approvals: Increased approval of biosimilars by global regulatory bodies is fueling market growth, enhancing market penetration and adoption.
- Emerging Markets: Expansion opportunities in emerging regions, particularly in Asia-Pacific and Latin America, where healthcare systems are rapidly evolving and government support for biosimilars is increasing.
Key Companies & Market Share Insights:
The Psoriasis Biosimilars Market is highly competitive, with several key players driving innovation and price competition. Major companies include Amgen Inc., Pfizer Inc., Samsung Bioepis, and Sandoz International GmbH. These companies are actively involved in the development and commercialization of biosimilars, with a strong focus on expanding their presence in emerging markets. Strategic partnerships, mergers, and acquisitions are common as companies strive to strengthen their portfolios and market reach.
Growth Drivers:
- Cost-Effective Treatment Options: Biosimilars provide a more affordable alternative to branded biologics, making psoriasis treatment more accessible.
- Regulatory Support: Increased approvals and regulatory frameworks for biosimilars are accelerating their adoption in both developed and emerging markets.
- Rising Disease Prevalence: The growing number of psoriasis patients globally is driving the demand for effective and affordable treatment options.
- Technological Advancements: Continued innovations in biotechnology are leading to the development of more biosimilar products, expanding treatment options for psoriasis.
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/psoriasis-biosimilars-market
Competitive Landscape
Companies in the psoriasis biosimilars market are actively expanding their distribution networks and streamlining supply chains to increase market penetration. They are particularly focused on emerging markets with growing healthcare needs and expanding patient populations. Leveraging cost-efficient manufacturing processes allows these companies to enhance the accessibility of biosimilars to a broader patient base.
Furthermore, companies are navigating complex regulatory pathways to obtain approval for their biosimilars. By closely collaborating with regulatory authorities, they ensure their products meet stringent safety, efficacy, and quality standards, facilitating smoother market entry.
Recent Industry Developments in the Psoriasis Biosimilars Market
- July 2024: Cooper Consumer Health successfully acquired Viatris Inc.'s Over-the-Counter (OTC) business.
- May 2024: Novartis Pharmaceuticals Canada Inc. partnered with Clarius Mobile Health to support early detection of psoriatic arthritis in Canada.
- September 2023: Sandoz signed a research, development, and commercialization agreement with Samsung Bioepis. This agreement grants Sandoz the rights to commercialize the biosimilar SB17 ustekinumab across the United States, Canada, EEA, Switzerland, and the United Kingdom.
Key Players of Psoriasis Biosimilars Market:
- Merck KGaA
- Gyros Protein Technologies AB
- Pfizer Inc.
- Novartis International AG
- Amgen Inc
- Samsung Bioepis Co., Ltd.
- Coherus BioSciences
- Hoffmann-La Roche Ltd
- Celltrion
- Samsung Bioepis
- Sandoz
- Fresenius Kabi
- Viatris
- Reddy's Laboratories
- GenScript
Key Segments of Psoriasis Biosimilars Market:
By Drug Class:
In terms of drug class, the industry is divided into TNF-alpha inhibitors (infliximab, etanercept, adalimumab) and other biosimilars.
By Indication:
In terms of Indication, the industry is segregated into plaque psoriasis, psoriatic arthritis and other types.
By Route of Administration:
In terms of route of administration, the industry is segregated into subcutaneous, intravenous oral and topical.
By Distribution Channel:
In the terms of distribution channel, the market is segmented into hospital pharmacies, retail pharmacy chains and online pharmacies.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia and Middle East and Africa (MEA) have been covered in the report.
German Translation-
Der Markt für Psoriasis-Biosimilars wird zwischen 2024 und 2034 voraussichtlich ein deutliches Wachstum verzeichnen, das durch die zunehmende Einführung von Biosimilars aufgrund ihrer Kostenvorteile gegenüber Original-Biologika vorangetrieben wird. Der Markt, der im Jahr 2024 auf 9.228,6 Millionen USD geschätzt wurde, soll bis 2034 voraussichtlich beeindruckende 26.679,9 Millionen USD erreichen, was einer robusten durchschnittlichen jährlichen Wachstumsrate von 11,2 % entspricht. Dieses Wachstum ist größtenteils auf die zunehmende Verbreitung von Psoriasis zurückzuführen, von der Millionen Menschen weltweit betroffen sind, und auf die steigende Nachfrage nach erschwinglichen Therapieoptionen.
Angesichts steigender Gesundheitskosten stellen Biosimilars eine kostengünstige Alternative zu herkömmlichen Biologika dar und bieten dieselben therapeutischen Vorteile zu niedrigeren Preisen. Insbesondere Psoriasis-Patienten profitieren von der Einführung von Biosimilars, da sich diese Medikamente als wirksam bei der Linderung der Symptome und der Verbesserung der Lebensqualität erwiesen haben. Der Markt verzeichnet großes Interesse von Gesundheitsdienstleistern und Kostenträgern, die nach kosteneffizienten Behandlungslösungen suchen.
Ein weiterer wichtiger Faktor, der den Markt antreibt, ist der wachsende Fokus auf die Zugänglichkeit der Gesundheitsversorgung in Schwellenländern. Regierungsinitiativen zur Förderung von Biosimilars beschleunigen die Marktdurchdringung, insbesondere in Regionen mit einer hohen Psoriasis-Belastung. Die zunehmende Zulassung von Biosimilars durch Aufsichtsbehörden wie die FDA und die EMA unterstützt die Expansion des Marktes weiter.
Da große Pharmaunternehmen weiterhin in Forschung und Entwicklung investieren, wird erwartet, dass die Anzahl der für die Psoriasis-Behandlung verfügbaren Biosimilars wächst. Dieses Wettbewerbsumfeld wird wahrscheinlich Innovationen und niedrigere Preise vorantreiben, was Patienten und Gesundheitssystemen gleichermaßen zugutekommt.
Den Markt für Psoriasis-Biosimilars verstehen:
Der wichtigste treibende Faktor für das Wachstum des Marktes für Psoriasis-Biosimilars sind laufende klinische Studien. Diese klinischen Studien liefern wichtige Daten zur Sicherheit, Wirksamkeit und Immunogenität von Pharmaprodukten im Hinblick auf ihre Referenzbiologika. Klinische Studien stellen auch sicher, dass die Prüfung von Biosimilars es ihnen ermöglicht, strenge regulatorische Standards zu erfüllen oder ihnen zu entsprechen.
Für die behördliche Zulassung ist daher eine Reihe klinischer Studien erforderlich, die nachweisen, dass das Biosimilar tatsächlich sowohl in Struktur als auch Funktion sehr ähnlich ist und die klinischen Ergebnisse einem Referenzbiologikum gleichwertig sind. Diese Studien umfassen im Allgemeinen pharmakokinetische (PK) und pharmakodynamische (PD) Studien, gefolgt von Phase-III-Studien in größerer Zahl mit direkten Vergleichen der Wirksamkeit und Sicherheit zwischen Biosimilars und Biologika in derselben Patientenpopulation. Diese Studien für Psoriasis werden an Patienten mit mittelschwerer bis schwerer Plaque-Psoriasis durchgeführt.
Treiber und Chancen:
Der Haupttreiber für den Markt für Psoriasis-Biosimilars ist die weltweit steigende Verbreitung von Psoriasis. Laut der Weltgesundheitsorganisation sind etwa 2 bis 3 % der Weltbevölkerung von dieser chronischen Autoimmunerkrankung betroffen, was zu einer erheblichen Nachfrage nach wirksamen Behandlungen führt.
Ein weiterer wichtiger Treiber ist die Kosteneffizienz von Biosimilars. Während Gesundheitssysteme auf der ganzen Welt mit steigenden Behandlungskosten zu kämpfen haben, bieten Biosimilars eine kostengünstige Alternative zu biologischen Arzneimitteln und machen die Behandlung für einen größeren Patientenkreis zugänglicher. Darüber hinaus fördert das wachsende Bewusstsein von Patienten und medizinischem Fachpersonal hinsichtlich der Wirksamkeit von Biosimilars eine größere Akzeptanz und Nutzung.
In Schwellenmärkten gibt es zahlreiche Möglichkeiten, da Biosimilars aufgrund niedrigerer Produktionskosten und erhöhter staatlicher Unterstützung an Bedeutung gewinnen. In Regionen wie dem asiatisch-pazifischen Raum und Lateinamerika liegt der Fokus zunehmend auf der Verbesserung des Zugangs zur Gesundheitsversorgung, was diese Märkte zu einem fruchtbaren Boden für die Expansion von Psoriasis-Biosimilars macht.
Author By
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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