LONDON
TechNavio, a tech-focused research firm has published a new report on the Global Oncology Biosimilars Market, which is expected to grow at a CAGR of 29.87 percent from 2014-2018.
A good percentage of this growth is due to a growing number of biopharmaceutical patent expiries expected in the near future. Since biosimilars are follow-on versions of original biological medicines and can be made only after the patent protection of the original product expires, these expirations open up opportunities for many biosimilars companies to enter the market.
The latest report by TechNavio also emphasizes the outsourcing of biosimilar manufacturing as a trend expected to propel growth. Overall, the complexities and costs associated with the development of biosimilars are high, which can aversely affect the overall profit of the manufacturers.
“Many vendors are focusing on alliances with contract manufacturing and contract research organization that have already attained some expertise in the field of manufacturing biosimilar products,” says Faisal Ghaus, Vice President of TechNavio.
“Manufacturing biosimilar products in developing countries like India and China helps reduce the investment required by about 40 percent, which will make India and China hubs for outsourcing biosimilar manufacturing activities.”
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
About TechNavio
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
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