A biosimilars market valued at $172million (E130million) in 2010 is forecast to reach $3.99billion (E30.1billion) by 2017, with a compound annual growth rate of close to 57% over the seven-year period.
In a recent Frost & Sullivan report, it is predicted that the growth areas will be erythropoietin, granulocyte colony-stimulating factors, human growth hormones, monoclonal antibodies, insulin and interferons. Drivers include price reduction concurrent with escalating doctor and patient uptake. But while this will offer lucrative opportunities for large companies, the level of investment for smaller firms – in materials as well as in clinical trials proving safety, efficacy and quality – is likely to prove a serious challenge.
Companies ‘need to have strongly-integrated R&D, production, sales and marketing processes to ensure market success ‘ and ‘effective sales communication to the scientific community, coupled with continuous promotional activities as well as close and constant interaction with doctors and pharmacists’ so as to ensure greater and faster uptake of biosimilars, the report concludes.