Favorable regulations and high patient volumes to augment growth rates
SINGAPORE, March 26, 2018 /PRNewswire/ -- Frost & Sullivan's latest analysis of the APAC biosimilars market finds patent expiries, better-defined regulatory pathways, and escalating healthcare costs will boost biosimilars market growth. Frost & Sullivan expects revenues to reach US$16,826.4 million by 2025 due to favourable regulations and high patient volumes.
Frost & Sullivan's recent analysis, APAC Biosimilar Market, Forecast 2025, provides a detailed assessment of key market dynamics, drivers and restraints, revenue forecasts by region, and market share and competitive analysis.
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"There is a market shift toward high-value biological therapies, biosimilars, and specialty segments where there is less competition despite high profit margins. With several biological drugs expected to lose patents by 2020, this segment will experience an annual growth rate of more than 30%," said Sanjeev Kumar, Industry Manager - Transformational Health: Life Sciences at Frost & Sullivan.
"The launch of innovative production platforms will reduce the cost of biosimilar production, thus providing substantial price differentiation," he added.
Five competitive keys for success:
- Knowledge and understanding of biosimilars
- Pricing strategies to reflect payer contemplations
- Capital investment and scale-up production capabilities
- Competitive knowledge
- Clinical and regulatory expertise
"Establishing interchangeability is an important step to ensure complete acceptance of biosimilars and high market penetration. Currently, the lack of clarity in guidelines and regulations owing to technical barriers and complexity associated with the manufacturing process prevents regulators from designating a biosimilar as interchangeable. While biosimilars promise the same effect at a reduced price, a biobetter will possess some molecular or chemical modification that constitutes an improvement over the originator drug and its biosimilar competitors," said Kumar.
APAC Biosimilars Market, Forecast to 2025 is part of Frost & Sullivan's global Transformational Health Growth Partnership Service program.
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APAC Biosimilars Market, Forecast to 2025
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SOURCE Frost & Sullivan