Global Biosimilars Market Set to Reach $2-3 Billion by 2015 as Industry Faces Development Challenges
- The biosimilars market is projected to experience significant growth over the next 10-15 years, driven by patent expirations of branded biologics and healthcare cost reduction pressures.
- Unlike generic drugs, biosimilar development requires a complex, integrated approach combining regulatory compliance, strategic clinical development, and targeted commercialization planning.
- Companies must navigate varying regulatory frameworks across markets, with the FDA adopting a stepwise approach aligned with EMA guidelines while offering unique considerations for interchangeability.