BRIEF—Biosimilars market set for strong growth, research finds

Industry analyst PharmaVentures has released a new  white paper examining the market landscape and key success factors for biosimilars.

The group said that global biosimilar uptake is increasing rapidly and expected to keep growing at a double-digit rate over the next ten years, to reach over $70 billion value by 2030.

PharmaVentures said growth is driven by certain anticipated patent expirations for key biologics, coupled with a general need to reduce healthcare spending.

The group’s research shows that nineteen blockbuster biologics will lose exclusivity over the next five years, affecting brands worth over $100 billion in global revenues.