Biosimilars and Follow-On Biologics Market: Overview

The drive for reducing cost of insulin therapies is a key driver for the evolution of the biosimilars and follow-on biologics market. Though regulatory frameworks governing such drugs are increasingly complex, a growing number of patients world over are switching to these, attracted by the cost reduction. In theory, biosimilars and follow-on biologics are expected to be of the same efficacy and safety as the reference drugs, producing the same clinical results. However, in practice, the concerns of patient adherence and dosing have constrained their acceptance. Biologics are fundamentally different from conventional generics—an important distinction for market players.

A growing array of studies have focused on interchangeability of biosimilar/follow-on insulins in people with diabetes have shaped the prospects in the biosimilar and follow-on biologics. Nearing expiry of several of the biopharmaceuticals has spurred the growth of the biosimilars and follow-on biologics market.

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Biosimilars and Follow-On Biologics Market: Key Trends

Some of the key therapeutic areas with promising revenue potential for the market are monoclonal antibodies (mAbs), insulin, erythropoietin (EPO), interferons, growth hormones, and fertility hormones. Recent changes in FDA’s approach to biosimilars have favored the expansion of the biosimilars and follow-on biologics market.

Growing research on follow-on insulins has attracted sizable research investments by biopharmaceutical companies in the market. However, the commercialization of biosimilars into routine clinical practice is a far-fetched dream. The pace is reliant on better regulatory and pricing structures.

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Biosimilars and Follow-On Biologics Market: Regional Assessment

Regionally, North America is a regional market with sizable revenue prospects during the forecast period of 2020 – 2030. Europe is another lucrative market. The growth of both these regional markets pivot on the rise in investments in meeting the demand for innovative and low-cost drugs for a range of therapies. The regions have seen industry players forking out money in pharmacokinetic (PK) and pharmacodynamic (PD) studies, in a bid to improve the approval rate.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Biosimilars And Followon Biologics Market

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