Remicade Biosimilar Market: Overview
Biosimilar is a term that is used to define a biological product type that is very much similar to the drug that is already approved by the FDA; this product is known as the reference biological product. The Remicade is an antibody that is monoclonal and is used for the treatment of the Crohn’s disease in the patients.
Remicade Biosimilar Market: Facts
The US FDA approved the Renflexis manufactured by the Samsung Bioepis. It is the infliximab biosimilar product infliximab-abda that is used for the multiple indications. It is the second FDA-approved biosimilar product. Remicade manufactured by Janssen Biotech Inc. was the reference product. The US FDA had approved Inflectra from Celltrion in the year 2016.
Remicade Biosimilar Market: Segmentation
The market for the Remicade biosimilar is fragmented into its disease indication and regions. On the basis of the indication of the diseases, the market is segregated into rheumatoid arthritis, psoriatic arthritis, plaque psoriasis, Crohn’s disease, ankylosing spondylitis, and ulcerative colitis. Depending on the geographical regions, the market for the macadamia is divided into Latin America, Western Europe, the Middle East & Africa, North America, Eastern Europe, and Asia Pacific.
Remicade Biosimilar Market: Growth Factors
The factors that are driving the Remicade biosimilar market are the early expiry of the patents of the branded version, speedy reaction times owing to the intravenous mode of administration, increasing cases of the autoimmune diseases especially rheumatoid arthritis and plaque psoriasis, and the discounted pricing. The entry of the biosimilar version will improve the accessibility of the patients to the medicines and will also provide financial relief. There are factors that will restrain the growth of the market which include the side effects that are caused by the drug may be fatal and can lead to hospitalization. Others factors that are affecting the market growth are shortage of the FDA approved facilities that are required for the production of the drugs and the complex nature of the molecule.
Remicade Biosimilar Market: Regional Analysis
The region that is leading in the Remicade biosimilar market is Europe and the regions that are following are Latin America and Asia Pacific. The key reason that is driving the market in these regions is the introduction of the biosimilar version shortly after the patent expiry of the version that was branded. The speedy drug review process and the systematic approach towards the drug discovery will develop the revenue development in the regions of North America. In the Central and the South America there are strict laws for the approval procedures and stringent guidelines for the manufacturing of the drugs thus leading to the chances of developing strategies for the regional manufacturing and distribution of the Remicade biosimilars.
Remicade Biosimilar Market: Competitive Players
The key market players that are involved in the Remicade biosimilar market include Merck &Co., Celltrion Inc., Napp Pharmaceuticals, Janssen Biotech Inc., Pfizer Inc., Alvogen, and Nippon Kayaku.
Remicade Biosimilar Market: Regional Segment Analysis
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