Asia Leads the Way with Spending in Biosimilars Sector

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Researched by Industrial Info Resources (Sugar Land, Texas)--Interest in biosimilars has continued unabated in the past few years. Biosimilars are drugs that are very similar to their target drug. They are relatively low-priced, with a typical savings of 35% compared with the branded drug, but they offer some of the same efficacy, although not the same as the target drug.

The substantial growth in biosimilars over the years has been due to various factors that include patent expiration of biological drugs, growing demand for biosimilars as a cost-effective alternative, and rising chronic disorders and diseases.

Currently, Industrial Info is tracking 55 biosimilar-related projects, worth US$6.72 billion globally. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pharma-Bio Project Database can click here for a list of detailed project reports.

Notably, the biggest spending drivers for these projects have been companies out of Asia, South America and Europe. However, Asia dominates the global market with the largest share of about US$4.66 billion worth of spending. Within the Asian region, South Korea has emerged as the biggest investor, with US$3.94 billion worth of spending, through companies like Samsung Biologics (Incheon, South Korea), Samsung Engineering (Seoul, South Korea) and Byucksan Engineering Company (Seongnam, South Korea) mainly focusing on fill-and-finish plant expansions.

Other key players in the global market are PT Bio Farma (Bandung, Indonesia), Lupin Limited (API and Biotech Division) (Mumbai, India), Serum Institute of India (Pune, India), Epygen Biotech Pvt. Ltd (Maharashtra, India) and Epygen Labs, and Intas Pharmaceuticals (Ahmedabad, India). These companies are mainly focusing on monoclonal antibodies that are used for the treatment of most types of cancer such as colorectal cancer, breast cancer, and cervical cancer. Other projects of biosimilars in the pipeline are targeting the treatment of psoriatic arthritis, osteoporosis, increase in platelets, etc.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).