GIA announces the release of a comprehensive global report on
Biosimilars markets. The global market for biosimilars is forecast to reach
US$17.9 billion by the year 2017. The market is driven primarily by the
increasing demand for biotech drugs, cost-effectiveness of biosimilars in
comparison to their expensive counterparts, impending patent expiries of major
biotechnology drugs, aging population and increasing incidence of cancer and
other critical diseases. Furthermore, the passing of the BPCI Act in the US for
creating a regulatory pathway for biosimilars in the near future, and the
establishment of biosimilar monoclonal antibodies guidelines in Europe, are the
other factors expected to drive the growth momentum.
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