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biosimilars market

Themes Shaping the Global Biosimilars Market and What Players Can Do to Stand Out

The global biosimilars market is set for continued growth owing to patent expirations of some of the best-known biologics in the coming years. Despite many practical biosimilars challenges in Europe and the US, both these regions will continue to mature and offer growth opportunities to players in the sector. However, the downward price pressure in the biosimilars market indicates intense competition among key players in the sector. In this scenario, a key differentiator for biosimilars companies will be the ability to design and implement new development and commercial models. By doing so, players can offset the impact of declining prices and rising competition. Our biosimilars market forecast estimates that sales in the sector will surpass $ 10 billion in size by 2022. In this article, healthcare industry experts at Infiniti Research identify some top-of-mind themes that are set to shape the biosimilars market in the years to come and also evaluates what players can do to stand out in the dynamic market.

Although the biosimilars industry has developed rapidly and regulation has advanced significantly over the years with approval processes now in place in many countries, there may be several opportunities to further streamline the regulatory process and accelerate path to market. RFP to know how we can help you effectively identify and capitalize on them before they turn into lost opportunities.

Market development in the US and Europe

Due to the increasing acceptance of biosimilars as an equal to patented drugs in terms of safety, efficacy, immunogenicity, the sales in the biosimilars market in Europe is growing at an unprecedented rate. However, the progress in the biosimilars market across the European region remains uneven. The demand for retail products and self-injectable biologics have weaker demand. This indicates reflects to lower levels of awareness in these segments when compared to hospital-administered products. In contrast, the biosimilars market growth in the US remains fairly flat. In the US, only three biosimilars are currently actively marketed while others remain tied up in patent disputes or are awaiting patent expiry. Furthermore, several regulatory efforts in progress in the US add to the challenges of players in the US biosimilars market.

Price management to create value

Pricing is a vital factor that plays a crucial role in the success of a biosimilar product. Price optimization helps manufacturers create greater leverage in its commercial budget. This can, in turn, be used to enhance competitive positioning, improve business growth and even create product differentiation in the biosimilars market. As in the generics and MedTech sectors, a sound price-to-volume model is vital in the biosimilars market to make the right tradeoffs across accounts. A strong model can better support contract management based on a real-time understanding of the biosimilars market. Moreover, it can also enable quick decisions and help manufacturers calibrate risk/reward ratios.

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Agile go-to-market strategies

Given the intense market competition, biosimilar companies are gradually evolving into highly technical and specialized organizations. As the current generation of biosimilars is complex in comparison to the earlier generations, it is essential to ensure that they are tested and launched in a much more restricted analytical and clinical environment. Additionally, biosimilars companies must also have the ability to take bold decisions on where to invest and identify ways to set up a commercial footprint. It is also important for companies in the sector to demonstrate the ability to rapidly trade-off resources based on dynamic market conditions.

Want to identify unmet needs and investment opportunities in the biosimilars market? Learn how our solutions can help you.

Biobetters market

A Biobetters Market Client Met its Revenue Goal and Enhanced Market Share by 37% With Market Access Strategy

Biobetters Market Overview

The global biobetters market has been witnessing a positive growth and is expected to do so in the coming years. The increasing usage of more effective and safer therapeutic drugs for the treatment of chronic diseases are expected to aid the biobetters market growth. Owing to the positive growth of the biobetters market, pharmaceutical manufacturers are competing to patent new drug formulations in order to survive. Also, leading companies in the biobetters market are expanding their business operations to foreign countries. However, market-access related issues pose major challenges for companies operating in the biobetters market. Leveraging market access strategy can help businesses to tackle market-access challenges and maximize profitability.

Top MarketsNorth America is likely to be a leading biobetters market through 2029. The experts at Infiniti Research predict that Europe and Asia-Pacific regions will witness positive growth over the next five years.

Our market access strategy can help companies in the biobetters market to identify barriers to new market entry and achieve huge commercial success for its new drugs in an unknown market. Request a FREE proposal today!

Key Biobetters Market Challenges Faced by the Client

The client, a biobetters manufacturing firm, wanted to expand its business operations to the Middle East and South-East Asia regions. They noted that market entry to the Middle East and South-East Asia regions was highly challenging due to the need to accommodate rising costs and the proliferation of competing drugs in the same therapeutic areas. In addition, the growth of the generic segment and the advent of biosimilar drugs were increasing challenges for the company. They approached the experts at Infiniti Research to leverage their expertise in offering market access strategy.

Other major challenges that the biobetters market client encountered included:

Challenge #1: Data availability and accessibility for the target countries was a major challenge due to stringent regulations and limited sources.

Challenge #2: As the clinical pathways and treatment models changed very frequently in the Middle East and South-East Asia regions, gathering comprehensive insights into the market landscape and competitors before advancing pipeline drugs to the next level was becoming mandatory for companies in the biobetters market.

Challenge #3: Developing a sound product marketing strategy that will aid their drug’s market access and commercialization goals.

Challenge #4: To analyze the different pricing strategies in the in the Middle East and South-East Asia regions and set the right price for their new drugs.

Our Integrated Approach

The experts at Infiniti Research carried out 100+ interviews with market access experts, business executives, strategy managers, market analysts, marketing access managers, and healthcare consulting companies.

Infiniti’s market access strategy engagement involved:

  • Detailed algorithm and setup of Reimbursement and Pricing Approval Process across the Middle East and South-East Asia regions
  • Detailed assessment of competitors’ offerings, new business strategies, and market position
  • Thorough analysis of payers’ needs and concerns of pharmaceutical and healthcare providers
  • Opportunity advisory to help the biobetters market client make investment decisions on optimizing the portfolio

Besides, Infiniti’s market access strategy also provided the biobetters market client with:

  • Quarterly price trackers to keep a tab on hospital preferences and purchase trends
  • Region and respondent type specific insights to ensure complete landscape and opportunity mapping
  • Actionable insights on emerging and untapped potential in the target regions within small and medium hospitals

Our market access strategy can help you to navigate the complex market challenges and yield huge profits. Contact us today!

Results Obtained

By leveraging Infiniti’s market access strategy, the biobetters market client was able to:

  • Gathered comprehensive insights into the market landscape and identified the evolving clinical pathways and treatment models
  • Devised a sound market entry strategy
  • Successfully launched drugs in the new markets
  • Set optimal prices for their new drugs
  • Develop new drugs meeting the market demand and payers’ requirements
  • Cleared clinical trials in initial attempts and successfully launch drugs in the Middle East and South-East Asia regions
  • Devise a sound commercialization strategy for the promotion of its new drugs
  • Identify the most suitable distributors in each target regions based on the regional strength scorecards
  • Identify the total addressable market and make a robust sales strategy
  • Meet its revenue goal and enhance market share by 37%

Want to know more about our services for companies in the biobetters market? Request more info and our experts will get in touch with you with comprehensive insights.

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