Technavio’s latest report on the globalmonoclonal antibody (mAb) biosimilars market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Sapna Jha, a lead analyst from Technavio, specializing in research on cardiovascular and metabolic disorderssector, says, “The global mAb biosimilars market is expected to witness significant growth of over 57% during the forecast period due to new product launches, particularly in the EU and the US, and the entry of new players into this market. The increasing need for cost-effective treatment is one of the major factors driving this market’s growth. Biosimilars are available at a 10% to 30% discount as compared to biologic products, thus leading to their increased adoption.”
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The top four emerging trends driving the global mAb biosimilars market according to Technavio healthcare and life sciences research analysts are:
Emergence of biosimilars
The older population has increased due to the availability of advanced medical care. This has also increased the prevalence of chronic diseases, such as rheumatoid arthritis, psoriatic arthritis, cancers, and metabolic disorders, leading to high demand for quality care. Countries are under pressure to address this demand without increasing the healthcare expenditure. Due to the high cost of branded mAbs, the demand for biosimilar products has been increasing. The average monthly spending on branded biologics has increased from USD 5,000 million in 2003 to USD 10,000 million in 2013, with some individual mAbs costing over USD 30,000 per month. Biosimilar products are positioned as cost-effective treatments, which is helping the global mAb biosimilars market grow. In fact, increased sales of biosimilars are expected to pull down the sales of biologics during the forecast period.
Outsourcing of manufacturing activities
Manufacturing biosimilars needs specialized capabilities, meticulous planning, significant financial investment in equipment, highly skilled staff, technology, personnel, and materials. The complexity and costs involved in biosimilar development continue to rise till they achieve economies of scale, hampering the initial success of biosimilars manufacturing. Therefore, many vendors are increasingly opting for contract manufacturing organizations and contract research organizations with established expertise in the field of manufacturing biosimilars. These organizations are developing and validating analytical methods to help pharmaceutical companies remain competitive and financially viable in the market.
Also, manufacturing biosimilars in developing countries such as India and China has reduced the requisite investment by about 40%, making India and China a hub for outsourced biosimilar manufacturing. “Thus, outsourcing the manufacturing of biosimilar products to developing nations will help market vendors introduce novel products to the market, quickly and cost effectively. This new trend is expected to have a positive impact on the growth of the market during the forecast period,” says Sapna.
Need for high investment in R&D
Biosimilar development is an activity that demands significant resources in R&D, manufacturing expertise, clinical trial capabilities, and high financial investment. A company entering the global mAb biosimilars market requires large funds to invest in the R&D and manufacturing processes. Many vendors have identified biosimilar products as a significant long-term growth opportunity.
The pharmaceutical industry is a research-intensive industry backed by developments in technology. Similarly, the global mAb biosimilars market also requires development and manufacturing of new biosimilar products. So, the vendors in this market are allocating heavy R&D budgets to enable the introduction of a broad portfolio of biosimilar products. This will help increase the market penetration of the vendors in the global mAb biosimilars market to a great extent.
Rising number of strategic collaborations
Vendors in the market are forming strategic alliances to increase their market share. For instance, in 2011, Amgen and Watson Pharmaceuticals reached an agreement to develop and market biosimilar treatments for cancer. As part of this agreement, Amgen is expected to develop and manufacture biosimilars with Watson and provide marketing and financial support for the products launched.
Similarly, in August 2015, Sorrento Therapeutics signed an exclusive licensing agreement with Mabtech to develop and commercialize multiple pre-specified biosimilar antibodies. In December 2014, Torrent Pharma signed a license agreement with Reliance Life to market three biosimilars (Rituximab, Adalimumab, and Cetuximab) in India.
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Last updated on: 04/10/2016
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