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Specialty Physicians Discuss their Opinions of the United States Biosimilars Market
Frost & Sullivan, Dec 2011, Pages: 74
The U.S. biosimilars market is a fast approaching reality. However, much uncertainty lies ahead, including the market potential as a function of physician adoption of biosimilars. This panel discussion was conducted to preview the thoughts and expectations of specialty physicians who would be expected to be among the first customers of biosimilars, with the objective of gaining insight into some of the major factors which could influence market uptake. The research for this service was gathered from a panel consisting of 20 pre-selected specialty physicians and was conducted via online moderated discussion boards over a three-day period. Key findings, qualitative analyses and recommendations are included.
This Frost & Sullivan research service titled Specialty Physicians Discuss their Opinions of the United States Biosimilars Market assessed physicians’ willingness to prescribe biosimilars in the United States. The objective of this research was to conduct a highly qualitative analysis of a representative sample of practicing specialty physicians in the United States in the spirit of an interactive roundtable discussion. This panel discussion was conducted to preview the thoughts and expectations of specialty physicians who would be expected to be among the first users of biosimilars in the U.S. A series of questions was asked on current topics of interest to specialty physicians as well as pharmaceutical and biotechnology companies. Questions and discussions were designed to gauge both short- and long-term trends and impact.
Market Overview
Specialty Physicians Look Forward to the Imminent Arrival of Biosimilars to the U.S. Market
Biosimilars to Experience Widespread Uptake due to Customers’ Preference for Comparable Therapeutic Options at Lower Costs over High-cost Biologics
With biosimilars appearing on the horizon in the U.S. market, specialty physicians are seeking clinical data on their efficacy on various patient types. While cost is a significant adoption driver, physicians are more concerned about the safety and efficacy data including testing in specific patient populations, and reputation of the manufacturer. Specialty physicians’ initial acceptance of biosimilars and biobetters will depend heavily on strong clinical data and positive real-world experience. Physicians generally agreed that biosimilars produced by companies with a strong track record of producing high-quality products in the biologics sector will be accepted far more enthusiastically than those from companies that lack experience in developing and manufacturing biologics. “Experience in biologics, as opposed to experience with generics, will win the day for the biosimilar pharmaceutical,” says the analyst of this research. “However, many physicians are likely to be skeptical of companies based in developing countries such as India or China, due to earlier negative experiences.”
Patients may perceive biologics as superior to biosimilars simply due to their higher costs, as many people associate price with quality. “A clear explanation of the financial advantages of developing a biosimilar coupled with strong clinical data to support noninferiority may help to dispel any negative perceptions of biosimilars,” notes the analyst. “Positive clinical data from well-designed clinical trials may also increase the confidence of physicians and help alleviate their fears about being compelled to prescribe an inferior product
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