Dublin - Research and Markets (http://www.researchandmarkets.com/research/459fc936/analysis_of_europe) has announced the addition of Frost & Sullivan's new report "Analysis of European Biosimilars Market" to their offering.
Impending Patent Expiries of Blockbuster Biologics Spells Good News for Biosimilars
The biosimilars manufacturing industry is at a nascent stage. However, the impending patent expiries of biologics are anticipated to result in the introduction of several new biosimilars and provide impetus to market development. The expiration of patents and other intellectual property rights of biological innovators over the next decade opens up opportunities for biosimilars to enter the market and increase industry competition, notes the analyst of this research. Price reduction strategies will ensure increased adoption among physicians and patients alike, spurring market advancement.
While the market offers lucrative growth prospects, the need for sizeable investments will pose a serious challenge to smaller firms. Complex production processes, expensive biological and chemical materials, and rigorous clinical trials as well as mandatory safety, efficacy and quality tests require significant investments. The need for considerable financial outlays will hinder the entry of small biotech firms in particular, cautions the analyst. On the other hand, specialty pharmaceutical companies with biotech expertise and financial capabilities are well positioned to venture into the biosimilars market. High manufacturing costs are another major barrier to market entry. However, there are viable prospects for licensing agreements between companies.
Effective Sales and Marketing Strategies Critical to Successful Commercialisation
The uncertainties and risks for biosimilars manufacturers persist. Companies need to have strongly integrated research and development (R&D), production, sales and marketing processes to ensure market success.
Access to sales and marketing capabilities can be achieved through collaborations between pharmaceutical companies and specialty biotech firms with technical expertise, advises the analyst. Companies can build sales and marketing capabilities in-house and ensure effective marketing support for the commercialisation of biosimilars. Effective sales communication to the scientific community, coupled with continuous promotional activities as well as close and constant interaction with doctors and pharmacists, will promote greater uptake of biosimilars.
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Source: Frost & Sullivan