Report: In Five Years Biosimilars Market Could Reach $390B

The biosimilars market could exceed $390 billion in value over the next five years, but only if nations improve the competitive landscape, according to a new market analysis.

By the end of 2020, biologics could account for 28 percent of the global pharmaceuticals market, according to the report issued last week by the IMS Institute for Healthcare Informatics. It notes that key markets — U.S., France, Germany, Italy, Spain and the UK — could see savings of between $55 billion and $110 billion over that same time frame.

These potential savings in part can be attributed to blockbuster biologics in therapeutic areas such as diabetes and inflammation going off patent in the next five years, according to the report. Approximately 50 distinct biosimilars are in development, something that could boost the competitive landscape over the next five years.