Pharmaceutical and healthcare information provider IMS Health, US, has announced the launch of IMS MIDAS Biosimilars, a market measurement tool. The new tool enables clients to assess the value of treatments and guide commercial decisions in this rapidly developing segment of the global biologics marketplace. The new offering establishes an industry-verified standard market definition for the biosimilars segment, enabling consistent analyses across geographies, therapies and manufacturers in more than 70 countries.
According to the IMS Institute for Healthcare Informatics, global spending on biosimilars is expected to exceed $2 billion annually by 2015, up from $311 million last year. The U.S. biosimilar approval pathway, included in the Affordable Care Act, is expected to result in biosimilars entering the US market by 2014. European countries also will see additional types of biosimilars introduced during this period, including monoclonal antibodies. Currently, more than 300 monoclonal antibodies are in development for over 200 indications, including oncology, inflammatory and autoimmune diseases, metabolic and central nervous system disorders, and cardiovascular disease.
In addition to tracking individual products from launch through their lifecycle, IMS MIDAS Biosimilars also can be used to monitor local markets' response to legislation affecting the segment. As a fully integrated global resource with flexible delivery options, users can easily incorporate data into their existing market monitoring reports and dashboards.
IMS MIDAS Biosimilars is the latest addition to the company's MIDAS portfolio of products, the industry-leading resource for measuring the global pharmaceutical market.
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