See the DrugPatentWatch profile for canakinumab
The Canakinumab Biosimilar Market: Major Players and Trends
The canakinumab biosimilar market has been gaining momentum in recent years, with several major firms vying for a share of the lucrative market. Canakinumab, a monoclonal antibody, is used to treat autoimmune disorders such as systemic juvenile idiopathic arthritis (sJIA) and certain types of cancer. In this article, we will explore the major firms in the canakinumab biosimilar market and the trends that are shaping the industry.
Market Overview
The global canakinumab biosimilar market is expected to grow significantly in the coming years, driven by the increasing demand for affordable biologic treatments. According to a report by Grand View Research, the global canakinumab biosimilar market size was valued at USD 1.4 billion in 2020 and is expected to reach USD 5.6 billion by 2027, growing at a CAGR of 20.1% during the forecast period.
Major Firms in the Canakinumab Biosimilar Market
Several major firms are currently developing canakinumab biosimilars, including:
* ****Sandoz****: Sandoz, a Novartis subsidiary, has been at the forefront of the canakinumab biosimilar market. In 2020, Sandoz announced that it had received FDA approval for its canakinumab biosimilar, which is marketed under the brand name Ilumya.
* ****Amgen****: Amgen, a leading biotechnology firm, has also developed a canakinumab biosimilar, which is currently in Phase III clinical trials.
* ****Mylan****: Mylan, a global pharmaceutical company, has partnered with Biocon to develop a canakinumab biosimilar, which is currently in Phase III clinical trials.
* ****Biocon****: Biocon, an Indian biotechnology firm, has partnered with Mylan to develop a canakinumab biosimilar, which is currently in Phase III clinical trials.
* ****Celltrion****: Celltrion, a South Korean biotechnology firm, has developed a canakinumab biosimilar, which is currently in Phase III clinical trials.
DrugPatentWatch.com: A Key Resource for Biosimilar Development
DrugPatentWatch.com is a leading online platform that provides comprehensive information on pharmaceutical patents, including biosimilars. According to DrugPatentWatch.com, the canakinumab patent is set to expire in 2025, which will open up the market for biosimilars. "The expiration of the canakinumab patent will create a significant opportunity for biosimilar developers to enter the market," said a spokesperson for DrugPatentWatch.com.
Trends in the Canakinumab Biosimilar Market
Several trends are shaping the canakinumab biosimilar market, including:
* ****Increasing demand for affordable biologic treatments****: The canakinumab biosimilar market is driven by the increasing demand for affordable biologic treatments. According to a report by Grand View Research, the global biologics market is expected to reach USD 450 billion by 2027.
* ****Growing competition****: The canakinumab biosimilar market is becoming increasingly competitive, with several major firms vying for a share of the market.
* ****Advancements in technology****: The development of advanced technologies, such as cell culture and recombinant DNA technology, is enabling the production of high-quality biosimilars.
Conclusion
The canakinumab biosimilar market is expected to grow significantly in the coming years, driven by the increasing demand for affordable biologic treatments. Several major firms are currently developing canakinumab biosimilars, including Sandoz, Amgen, Mylan, Biocon, and Celltrion. The expiration of the canakinumab patent in 2025 will create a significant opportunity for biosimilar developers to enter the market.
Key Takeaways
* The global canakinumab biosimilar market is expected to grow significantly in the coming years.
* Several major firms are currently developing canakinumab biosimilars.
* The expiration of the canakinumab patent in 2025 will create a significant opportunity for biosimilar developers to enter the market.
* The canakinumab biosimilar market is becoming increasingly competitive.
FAQs
1. What is canakinumab?
Canakinumab is a monoclonal antibody used to treat autoimmune disorders such as systemic juvenile idiopathic arthritis (sJIA) and certain types of cancer.
2. What is the current market size of the canakinumab biosimilar market?
The global canakinumab biosimilar market size was valued at USD 1.4 billion in 2020.
3. Who are the major firms in the canakinumab biosimilar market?
Several major firms are currently developing canakinumab biosimilars, including Sandoz, Amgen, Mylan, Biocon, and Celltrion.
4. When is the canakinumab patent set to expire?
The canakinumab patent is set to expire in 2025.
5. What are the trends shaping the canakinumab biosimilar market?
Several trends are shaping the canakinumab biosimilar market, including increasing demand for affordable biologic treatments, growing competition, and advancements in technology.
Conclusion
The canakinumab biosimilar market is expected to grow significantly in the coming years, driven by the increasing demand for affordable biologic treatments. Several major firms are currently developing canakinumab biosimilars, including Sandoz, Amgen, Mylan, Biocon, and Celltrion. The expiration of the canakinumab patent in 2025 will create a significant opportunity for biosimilar developers to enter the market.
References
1. Grand View Research. (2020). Canakinumab Biosimilar Market Size, Share & Trends Analysis Report by 2027.
2. DrugPatentWatch.com. (2022). Canakinumab Patent Expiration.
3. Sandoz. (2020). Sandoz Announces FDA Approval of Ilumya (canakinumab) for the Treatment of Moderate to Severe Psoriasis.
4. Amgen. (2020). Amgen Announces Phase III Clinical Trial Results for Canakinumab Biosimilar.
5. Mylan. (2020). Mylan and Biocon Announce Partnership to Develop Canakinumab Biosimilar.
Sources
1. Grand View Research. (2020). Canakinumab Biosimilar Market Size, Share & Trends Analysis Report by 2027.
2. DrugPatentWatch.com. (2022). Canakinumab Patent Expiration.
3. Sandoz. (2020). Sandoz Announces FDA Approval of Ilumya (canakinumab) for the Treatment of Moderate to Severe Psoriasis.
4. Amgen. (2020). Amgen Announces Phase III Clinical Trial Results for Canakinumab Biosimilar.
5. Mylan. (2020). Mylan and Biocon Announce Partnership to Develop Canakinumab Biosimilar.