Biosimilars are biological products designed to have highly similar therapeutic effect to an already approved biologic product, known as the reference product or originator product. With the patent expiry of several blockbuster biologics, biosimilars provide an opportunity for patient access to more affordable healthcare. Contract manufacturing organizations (CMOs) aid pharmaceutical companies in manufacturing biosimilars to exacting quality standards through process development and scaling up. Offloading biosimilar manufacturing to CMOs allows drug makers to focus on core competencies such as R&D.
Market Dynamics:
The global biosimilar contract manufacturing market growth is driven by the growing demand for affordable biosimilars due to patent expiration of biologics and increasing focus on biosimilars due to their cost-effectiveness. However, high capital investment requirements for setting up biosimilar manufacturing facilities and stringent regulatory standards for biosimilars pose challenges to market players. On the other hand, emerging markets, such as Asia Pacific and Latin America, present significant revenue potential with improving healthcare infrastructure and patient access to biosimilars in these regions. Contract manufacturers have opportunities to provide end-to-end services from cell line development to commercial manufacturing of biosimilars and help expand market reach.
Key Features of the Study:
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