Global Biosimilars Market, 2015-2025
Characterised by increased utility in chronic diseases and capital intensive manufacturing, the global biopharmaceutical market is expanding robustly. As the demand for biologics is increasing continuously, manufacturers are on the lookout for novel strategies that will help them attain maximum returns on investment.
Shefali Asija, the lead analyst said, “During our research, we identified over 600 biosimilar products across various product categories covering mAbs, insulin, and interferons, amongst others. Specifically, mAb biosimilars are being developed for multiple diseases forming a sizeable proportion of the preclinical/clinical development pipeline. ”
Asija further stated, “The emerging pharmaceutical markets of Asia, Latin America and Eastern Europe, with benefits such as lower labour costs, access to regional / domestic markets and, most importantly, relaxed regulatory requirements, serve as attractive destinations for biosimilars research and commercialisation. This geographical cluster currently dominates the market with respect to the number of approved products.”
In addition to some of the well-known benefits and a promising outlook, the study also highlights considerable challenges currently prevalent in the market. Examples of such challenges include manufacturing complexities, heterogeneous regulatory framework and associated safety and efficacy issues. Nevertheless, these challenges are paving the way for new strategies and technological improvements, which will indeed be advantageous in the long run.
The involvement of generic manufacturers and R&D based pharmaceutical and biotechnology companies has led to the emergence of a diversified competitive marketplace. Realizing the huge commercial prospects, several innovator biotech companies are actively engaged in the development of biosimilars. Some of the key players involved are:
- Eli Lilly
- Harvest Moon Pharmaceuticals
- Stada Arzneimittel
- BioXpress Therapeutics
- Nippon Kayaku
- Gene Techno Science
- JCR Pharmaceuticals
- Fosun Pharma
- CP Guojian Pharmaceutical
- Dr. Reddy’s Laboratories
- Zydus Cadila
- Reliance Life Sciences
In addition, this segment has become lucrative for other companies such as Fujifilm and Samsung. The contribution by such players does ensure a fresh inflow of money to fund development programs.
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