LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has worked with 100+ companies in the biosimilars market across the globe. Our expertise in the field of market research enables us to offer tailored solutions that empower biosimilars market leaders to gauge how prepared and well-positioned they are for the future. Request a free brochure to learn more about our solutions portfolio.
“Although the biosimilars industry has developed rapidly and regulation has advanced significantly over the years with approval processes now in place in many countries, there may be several opportunities to further streamline the regulatory process and accelerate path to market,” says a market research expert at Infiniti Research.
The global biosimilars market is set for continued growth owing to patent expirations of some of the best-known biologics in the coming years. Despite many practical biosimilars challenges in Europe and the US, both these regions will continue to mature and offer growth opportunities to players in the sector. However, the downward price pressure in the biosimilars market indicates intense competition among key players in the sector. In this scenario, a key differentiator for biosimilars companies will be the ability to design and implement new development and commercial models. By doing so, players can offset the impact of declining prices and rising competition. Our biosimilars market forecast estimates that sales in the sector will surpass $ 10 billion in size by 2022.
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In this article, healthcare industry experts at Infiniti Research identify some top-of-mind themes that are set to shape the biosimilars market in the years to come and also evaluates what players can do to stand out in the dynamic market:
Market development in the US and Europe: Due to the increasing acceptance of biosimilars as an equal to patented drugs in terms of safety, efficacy, immunogenicity, the sales in the biosimilars market in Europe is growing at an unprecedented rate. However, the progress in the biosimilars market across the European region remains uneven. The demand for retail products and self-injectable biologics have weaker demand. This indicates reflects to lower levels of awareness in these segments when compared to hospital-administered products. In contrast, the biosimilars market growth in the US remains fairly flat. In the US, only three biosimilars are currently actively marketed while others remain tied up in patent disputes or are awaiting patent expiry. Furthermore, several regulatory efforts in progress in the US add to the challenges of players in the US biosimilars market.
Price management to create value: Pricing is a vital factor that plays a crucial role in the success of a biosimilar product. Price optimization helps manufacturers create greater leverage in its commercial budget. This can, in turn, be used to enhance competitive positioning, improve business growth and even create product differentiation in the biosimilars market. As in the generics and MedTech sectors, a sound price-to-volume model is vital in the biosimilars market to make the right tradeoffs across accounts. A strong model can better support contract management based on a real-time understanding of the biosimilars market. Moreover, it can also enable quick decisions and help manufacturers calibrate risk/reward ratios.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us