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The Growth of the Biologics Market and Role of Asia Pacific
Frost & Sullivan, Nov 2009, Pages: 26
This research service aims to provide an overview of biologics, its use as therapy option, the growth of the biologics and biopharmaceutical industry and its relation to Asia, and recommendations on increasing the industry presence in Asia.
This Frost & Sullivan research service titled The Growth of the Biologics Market and Role of Asia Pacific provides an overview of biologics and their application to various therapeutic areas. The study focuses on initiatives taken by multinational pharmaceuticals, Asia Pacific countries’ (APAC) governments, and local manufacturing and research companies, which impact the dynamics of the biologics market.
Market Overview
High Demand for Biologics Opens New Avenues for Pharmaceutical, Research, Manufacturing, and Outsourcing Companies in the Asia Pacific
Owing to the high profitability of many biologic therapies across multiple disease areas, they have gained strong traction in the healthcare therapeutics market. The specific nature of biologics is the key to their success, both therapeutically and commercially. Their lack of compound-related toxicity, along with a targeted cell-specific modality, has resulted in a safer and more effective means to treat a host of chronic diseases. Furthermore, their complexity renders them hard to replicate, thereby reducing generic competition and expanding their revenues. Having realized the extent of effectiveness and applicability to multiple disease areas, such as cancer, rheumatoid arthritis, and diabetes, large pharmaceutical companies have shifted to biologics. 'An increasing number of pharmaceutical companies are partnering with Asia-based companies to support their manufacturing and research functions,' notes the analyst of this research service. 'Over the next ten years, the proportion of the biologics manufacturing work conducted in Asia is expected to grow rapidly as Asia's manufacturing infrastructures, in markets such as China and India, continue to mature.'
Although the prospects for biologics look upbeat, some impediments cloud the market landscape. Patients prefer convenient forms of administration; this could be a restraining factor in the choice of biologics as a treatment option. Most biologics available in the market currently need to be administered in the form of subcutaneous or intramuscular injection or intravenous procedure, which is not preferable to patients. Despite the fact that biologics are on the cutting edge of science, they are high-cost therapeutics. The cost of biologics, which can range from $16,000 to $20,000, hinders their chances of being put on the reimbursement lists in many countries. Governments are hesitant to offer reimbursement because of the availability of low-cost generics. 'While drugs, especially generics, targeted toward the same therapeutic area may be less effective or more toxic, their relatively low cost and reimbursement status make them a viable option for patients who cannot bear the burden of high cost and for the physicians prescribing the treatment,' says the analyst.
Establishing a foothold in this new market fuelled by cutting edge and evolving technology will require research collaborations, contract manufacturing organizations (CMOs), contract research organizations (CROs) and even geographical expansion, all of which have already begun. Participants in this space must resort to the outsourcing option in manufacturing, distribution, and research. Establishing branches in less expensive regions will bring down production costs and make room for price reduction as well. The Asia Pacific region can offer all these options with its mix of research talent, bountiful outsourcing companies, and less expensive overheads. In order to seize the opportunities that biologics offer, the Asia Pacific region must ramp up the infrastructure to attain international standards. The facilities, research, and standards must be at par with those available in North America or Europe to ensure that biologics companies seeking partnerships within the Asia Pacific region will be assured that the only change is in the geographic distance, and not in quality. Besides, efforts must be made to engender favorable public opinion on this burgeoning segment of the pharmaceuticals industry that is poised for a great leap forward.
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