Visiongain has released a new report titled Biosimilar monoclonal antibodies 2022-2032. It includes biosimilar monoclonal antibody profiles and forecasts of Market Segment by Type (Synthetic Chemicals, Biopharmaceuticals), Market Segment by Application (Chronic and Autoimmune Diseases, Oncology Diseases, Other Applications), Market Segment by Compound (Infliximab, Rituximab, Abciximab, Trastuzumab, Adalimumab, Bevacizumab) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, “U”, in “L”), profiles of the main companies, region and country.
The global biosimilar monoclonal antibodies market was valued at USD 4,087 million in 2021 and is projected to grow at a CAGR of 23.5% during the forecast period 2022-2032.
Biosimilar companies must tackle R&D infrastructure in emerging economies
In many emerging economies, research and development infrastructure issues need to be addressed by biosimilar companies. Manufacturers may worry about intermittent supply and refrigeration in remote areas, as many biosimilars require cold storage and logistics. It is already common in the small molecule industry to build formulations for new markets using the expertise of regional manufacturers. The complexity of the production process makes this difficult for biologics, however, regional partnerships could have an even greater impact given the greater challenges of immunogenicity and stability with large molecules.
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How Has COVID-19 Significantly Impacted the Biosimilar Monoclonal Antibody Market?
Biopharmaceutical manufacturers are struggling to predict the huge imbalance between supply and demand caused by COVID-19. On the supply side, lockdowns around the world have caused disruptions to supply chain operations and production in hubs like China, India and the United States. On the one hand, patients are being deterred from seeking therapy, especially for less convenient delivery techniques like infusions, which could lead to lower patient volume and total demand. While all producers are trying to reduce the possibility of supply shortages, manufacturers of biosimilars that rely on facilities in Europe and Asia may be particularly vulnerable in terms of supply.
How will this report help you?
Visiongain’s 479-page report provides 238 charts and 272 charts/graphs. Our new study is suitable for anyone requiring in-depth business analyzes of the global Biosimilar Monoclonal Antibodies market, along with detailed analysis of market segments. Our new study will help you assess the global and regional global biosimilar monoclonal antibody market. Obtain financial analysis of the overall market and different segments including type, application, compound and company size and capture higher market share. We believe there are strong opportunities in this growing market for biosimilar monoclonal antibodies. Find out how to use the existing and upcoming opportunities in this market to generate revenue in the near future. Moreover, the report will help you improve your strategic decision-making, enabling you to define strategies for growth, strengthen analysis of other market players and maximize business productivity.
What are the current market drivers?
Biosimilars: Paving the way to cost-effective healthcare
Medicines called “biosimilars” are identical copies of extremely complex biological medicines that work in the same way as the original therapy. The US FDA is approving a growing number of biosimilars. This promotes competition, which can reduce overall healthcare costs, especially when treating diseases such as chronic and autoimmune diseases, oncology diseases and other applications. The 4e May 2022, the United States Food and Drug Administration approved trastuzumab, a biosimilar drug created by Mylan and Biocon. Trastuzumab (Ogivri) is a biosimilar drug to the popular drug Herceptin from Roche, a widely used and recognized therapy for the treatment of breast cancer.
mABs products will continue to be a dominant treatment modality
In the near future, mABs products will continue to be crucial in the management of many disorders. The effect of mAB therapies on COVID-19 vaccine treatment development efforts is unknown. Despite the current outbreak, worldwide mAB clearance and sales are expected to increase over the next five years. Although initially hurting revenue for mAB initiators, the introduction of biosimilars is expected to boost global access to various types of antibody products. As a result, this sector of the biopharmaceutical industry will experience a marked increase in the number of patients. Manufacturing capacity continues to grow to meet the growing demand for these products.
Where are the market opportunities?
Local companies can help international biosimilar companies increase sales
Local businesses can help multinational biosimilar companies increase sales by introducing stakeholders, providing local credibility, and knowing local operating environments and patient expectations. This adds to the strength of the biosimilars company’s global brand. Many developing countries adopt local manufacturing regulations that require a product to be produced (at least partially) domestically. Partnering with local businesses could be a flexible and affordable way to do this while helping foreign businesses overcome obstacles such as local laws and customs. Many recent partnerships (such as Lilly’s strategic collaboration with Chinese pharmaceutical company Innovent and South Korean company Hanmi Pharmaceuticals on 27e March 2022) have shown that multinational biosimilar companies can take advantage of and utilize the R&D capabilities of resident players.
Untapped opportunities in emerging economies
Lack of oversight and/or regulatory compliance, immature distribution networks, sub-par health insurance infrastructure, fragmented demand and pressure on producer margins can all be factors limiting growth emerging markets. Therefore, companies may need to modify their current sales, advertising and distribution strategies. Infrastructure and market access are two important issues that need to be addressed. Biosimilar manufacturers will need widespread access to local companies, distributors and retailers if they are to succeed in untapped and emerging markets in developing countries. To develop evidence-based reimbursement plans, manufacturers will need to work closely with payers and legislators. As purchasing power and demand for biopharmaceuticals increase, governments and payers in emerging economies face the challenge of containing healthcare costs.
The major players operating in the biosimilar monoclonal antibodies market are 3SBio Inc., AbbVie Inc. (AbbVie), Amgen Inc., BIOCAD, Biocon Limited, Boehringer Ingelheim, Celltrion Healthcare Co Ltd., Dong-A Socio Holdings, Dr. Reddy’s Laboratories Ltd, Genor Biopharma Holdings Ltd., Intas Pharmaceuticals Ltd., Novartis AG, Pfizer Inc. (Pfizer), Reliance Life Sciences, Torrent Pharmaceuticals Limited. These major players operating in this market have adopted various strategies including mergers and acquisitions, R&D investments, collaborations, partnerships, regional business expansion and new product launches.
- The 8the March 2022, in Holly Springs, North Carolina, Amgen announced the construction of its brand new biomanufacturing facility. By 2025, the facility is expected to be operational, helping meet growing demand for Amgen’s drugs, which are used to treat life-threatening conditions like cancer and heart disease.
- 28e February 2022, Biocon Biologics Ltd., a division of Biocon Ltd., disclosed a binding contract with its business partner Viatris Inc. In order to establish a separate and fully integrated global biosimilars organization, Biocon Biologics Ltd. (BBL) will thus acquire the biosimilars business of Viatris. Total consideration of up to US$3 billion will be granted to Viatris, consisting of over US$2 billion in cash and US$1 billion in mandatory convertible preferred stock (CCPS) in BBL.
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