October, 2024
The psoriasis biosimilars market is driven by various factors, such as managing symptoms to treat emergency and chronic presentation of the disease that requires long-term treatment. However, with the rise in the production of generic biosimilars, the therapy has become more affordable and accessible. More patients are opting for such treatments, with some biosimilars performing on par in terms of efficacy and quality of treatment with previously approved reference drugs. As of January 2024, the United States Food and Drug Administration approved 45 biosimilars, 38 of which had already been launched in the US market.
Large-scale synthesis operations in countries like India have made Asia a significant contributor to the global biosimilars market. According to a Samsungbioepis report, on average, biosimilars gained 53% of the market share within three years after the initial launch. With each passing day, new market entrants are trying to capture local and international markets due to simplified, cost-effective production processes. The biologics currently used for psoriasis in India are etanercept, infliximab, and the recently introduced itolizumab and secukinumab.
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