Rome, June 11. (Adnkronos Health) – The growing presence of biosimilar drugs on the market will begin to significantly erode sales of branded biologics only after 2019, while the overall value of the biologics sector will increase from 162 billion dollars in 2013 to more than 262 billion in 2019. This is the estimate of the consultancy GlobalData, which has published a report in which it states that the patent expirations of branded biologics and the introduction of clear regulatory frameworks for bio similar after 2019 will see the latter capture a good share of the market.
“There are a number of factors driving the momentum towards biosimilars adoption, from austerity measures and slow economic growth in the United States to an aging population coupled with growing demand for healthcare in countries like Japan,” said Joshua Owide, director of Healthcare Industry Dynamics at GlobalData. “The savings realized from biosimilars are not as substantial as previously thought: the cost is approximately 20-30% less than that of brand-name biologic therapies. But it is still a significant reduction, since many biologics cost hundreds of thousands of dollars for a year of treatment.”.
