STRATEGY
BIOLOGICS AND BIOSIMILARS MARKET Key trends in 2021
The Global Biosimilars Market is estimated to reach US$240 billion by 2030, with the Indian market at US$35 billion. The considerable increase in reference products, with the USFDA adding 90 molecules and India approving 70 biosimilars, promises to usher in further growth. The Biopharma industry seems keen on investing in the biosimilar market with a focus on improving healthcare and health care costs for diseases of interest like COVID-19, cancer, immunologic diseases, and diabetes. This is evident in the projected growth of the oncology biosimilar market at 17 per cent CAGR, and the growing demand and importance of monoclonal antibodies such as tocilizumab, sarilumab, and itolizumab for testing on COVID-19 patients. Patent expiry for certain biologics like Levemir, Avastin, and Humira have also helped drive growth. Another factor for increased popularity is that the Indian population is cost-sensitive, with domestic sales at nearly US$250 million. Export to other emerging markets is another vital aspect, estimated at US$51 million. Our expert Dr Ayaaz Hussain Khan details key trends that will drive growth in the biosimilar and biologics market across the globe. Ayaaz Hussain Khan, Managing Director, Global Head-Generics, Navitas Life Sciences a TAKE Solutions Enterprise
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P H A RM A F O C U S A S I A
ISSUE 44 - 2021
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he first Biosimilar was approved in the year 2006 in the European Union, and since then, there have been more than 700 biosimilar drugs that have been approved. Not surprisingly, there has been phenomenal growth in the biosimilars market; an Assocham report states that the global biosimilars market is estimated to reach US$240 billion by 2030, while the Indian biosimilar market is expected to reach US$35 billion. According to the U.S Food and Drug Agency (FDA), biosimilars are approved as they are found to be identical to a referenced approved product with no clinical difference when compared to the biological product.
