Biosimilar market in APAC
In APAC, the Biosimilar Market is Set to Grow
The market sentiments towards biosimilars vary widely between the regulated and the semi- and unregulated markets. While regulated markets adopt an extremely cautious approach, the ‘pharmerging’ markets embrace the opportunity. Though ‘biobetters’ are often projected to have better future prospects over biosimilars, at least in the emerging markets the inclination is clearly towards biosimilars. The APAC region is particularly promising as a manufacturing hub as well as a market offering high potentials.
The demand for biologic drugs is increasing worldwide due to the rising abilities of science to reveal the underlying disease mechanisms and to design recombinant protein drugs based on this knowledge. However, innovator biologic drugs are extremely expensive, which limit their availability and affordability in emerging markets. Biosimilars offer hope in reducing the healthcare costs to a large extent. The governments in the emerging markets tend to approach biosimilar sector as a healthcare solution rather than a regulatory issue. They are developing regulatory framework in their countries around these products targeting mainly to improve access to these products. Many are promoting local players to invest in biosimilar development by offering various incentives. The fact that many of these countries do not have a stringent regulatory framework has helped in lowering the entry barriers for the local players.
Main drivers of biosimilars in the APAC region include the rising disease burden, increasing healthcare awareness, and the improving affordability in the emerging markets. Challenged by the rising disease burden in their countries, governments are looking out for various options to improve access to modern healthcare in their countries. As the living standards of the younger generation in these countries improve, demand for state-of-the-art healthcare is also increasing. However, the APAC market is highly
The market sentiments towards biosimilars vary widely between the regulated and the semi- and unregulated markets. While regulated markets adopt an extremely cautious approach, the ‘pharmerging’ markets embrace the opportunity. Though ‘biobetters’ are often projected to have better future prospects over biosimilars, at least in the emerging markets the inclination is clearly towards biosimilars. The APAC region is particularly promising as a manufacturing hub as well as a market offering high potentials.
The demand for biologic drugs is increasing worldwide due to the rising abilities of science to reveal the underlying disease mechanisms and to design recombinant protein drugs based on this knowledge. However, innovator biologic drugs are extremely expensive, which limit their availability and affordability in emerging markets. Biosimilars offer hope in reducing the healthcare costs to a large extent. The governments in the emerging markets tend to approach biosimilar sector as a healthcare solution rather than a regulatory issue. They are developing regulatory framework in their countries around these products targeting mainly to improve access to these products. Many are promoting local players to invest in biosimilar development by offering various incentives. The fact that many of these countries do not have a stringent regulatory framework has helped in lowering the entry barriers for the local players.
Main drivers of biosimilars in the APAC region include the rising disease burden, increasing healthcare awareness, and the improving affordability in the emerging markets. Challenged by the rising disease burden in their countries, governments are looking out for various options to improve access to modern healthcare in their countries. As the living standards of the younger generation in these countries improve, demand for state-of-the-art healthcare is also increasing. However, the APAC market is highly