Bioengineering market: present and future
Forecast of the development of the world market of similar biological products
Weekly "Pharmacy"Relatively recently, at the junction of such traditional industries as pharmaceutical and biological, a new branch has emerged – biopharmaceutical.
Developing at a rapid pace, the biopharmaceutical segment currently accumulates 15% of the volume of the global pharmaceutical market. The generic business could not ignore this promising segment of the market, especially since the expiration of patent protection terms for many blockbusters favors the spread of similar biological products.
Today, the market for similar biological products is highly fragmented, so this segment is attractive for new market players. It should be noted that many global pharmaceutical companies enter the market of similar biological products in the form of joint ventures to share investment risks. A favorable regulatory and legislative framework in this sector is the key to increasing the market share of players in the global pharmaceutical market, as well as increasing margins and reducing costs.
The bioengineering market is growing rapidly due to widespread consumer recognition, as well as the use of the demand potential of emerging markets in India and China. The main problem in this segment is associated with investment risks and the likelihood of failures at various stages of product development. However, the prospects are also impressive – a part of the biologics market worth $ 24 billion is losing patent protection by 2016.
According to forecasts, with the average annual growth rate of the global market of similar biological products in 2009-2014 at the level of 89.1% by 2014, the volume of this segment will reach $ 19.4 billion.
In 2009, recombinant non–glycosylated proteins accounted for the largest share in the total global sales of bioengineers - 61% (Figure). According to forecasts, with the average annual growth rate of this market segment at 87.9% during 2009-2014, its volume by 2014 could reach 11.5 billion dollars.
Such a high growth forecast for this segment is due to the expiration of patent protection for many of the largest branded biological products, in particular interferon preparations, growth hormone somatotropin, insulin and granulocyte colony stimulating factor (G-CSF). Among all biological products, the highest growth rates are predicted for erythroproteins, the volume of global sales of which will reach $6.1 billion by 2014.
In the geographical structure of the global bioengineering market, America and Asia are the undisputed leaders. Europe also began to gain momentum after the approval of its first similar biological product Omnitrope in 2006.
The key players in the global market of similar biological products are LG Life Sciences (South Korea), Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), many Indian companies – Biocon Limited, Dr. Reddy's Laboratories Ltd", "Intas Biopharmaceuticals Ltd.", "Ranbaxy Laboratories", "Reliance LifeSciences", "Wockhardt", etc.
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