The high demand for low-cost biologics is helping change the dynamics of the global biosimilar and follow-on biologics market. This, combined with several milestone commercial and regulatory developments will have a conspicuous impact on the growth of the global biosimilar and follow-on biologics market, says a new report by Transparency Market Research. The report is titled, ‘Biosimilar and Follow-On Biologics Market – Global Industry Size, Share, Trends, Analysis And Forecasts 2012–2018.’
A defining trend that’s shaping the future of the global biosimilars and follow-on biologics market is the need for generic biopharmaceutical drugs. This move is necessary because the high cost of biosimilars often puts them out of the reach of the average consumer. However, as the market for biosimilars grows into a mass market, prices are expected to gradually turn southward. Among the key restraining factors for the global follow-on biologics and biosimilars market is the intense research efforts required behind discovering new molecules and a few unproven theories relating to biologics.
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The other factors that have augured well for the growth of the global biosimilar and follow-on biologics market is the ability of people worldwide to spend more on maintaining good health. This is supplemented by governments of several companies making appreciable budgetary provisions for healthcare and allied research. That has raised the confidence of investors in the biosimilar and follow-on biologics market, causing more investments to be channeled into this space.
A rapidly graying population across the world will also help the growth of the global biosimilar and follow-on biologics market. Numerous patents for biologic drugs that had kept these drugs away from the mass market will expire in the years from 2013 to 2019. As this occurs, more consumers will be able to afford biologics, thus contributing to the volume growth of the global biosimilar and follow-on biologics market.
However, given the relatively new foundation of this market, economic uncertainty is rife in this space. According to TMR, companies can mitigate this issue by developing cross-disciplinary teams that have expertise in various verticals, ranging from biological products to regulatory affairs to clinical development to medical practices.
For the purpose of this study, the global biosimilar and follow-on biologics market has been segmented based on drug class as: Recombinant glycosylated proteins, peptides, recombinant non-glycosylated proteins, and others. The key regional markets analyzed in the report are Europe, North America, Asia Pacific, and Rest of the World.
The market’s competitive dynamics are characterized by the presence of several Big Pharma companies, all of whom are vying to rake in higher revenues. Some of the leading players either mentioned or profiled in the report include: 3SBio, Alexion Pharmaceuticals, Abbott, Abraxis BioScience, Astra Zeneca, Amphastar Pharmaceuticals, Bristol-Myers Squibb, Cipla, Genentech, Johnson & Johnson, and Ranbaxy Laboratories.