India is one of the biggest sources of biosimilars and is also an emerging market for biosimilars with its high population and investment in technology. It can emerge as one of the leaders in global biologic development by the end of this decade According to Global Industry Analysts Inc.. The global biopharmaceutical market was valued at $138 billion in 2012 and is expected to grow to over $320 billion by 2020. A research predicts that annual revenues for biopharmaceuticals have been rising year on year since 2001. In 2011, biopharmaceuticals accounted for 15.6% of the total pharmaceutical market.
The next decade could see a paradigm shift in biomanufacturing technologies, including improvements in equipment efficiency and the introduction of novel therapies. In particular, disposable bioprocessing equipment and microbial technologies are expected to dominate the manufacturing environment and become the “hallmark” of biopharmaceutical manufacturing. Biologicals have potential to reach up to 50% share in global pharmaceutical market in the next few years.
Indian firms seem keen on repeating their successes achieved in developing and commercializing biosimilars. Also, the Indian biotechnology industry is also gaining momentum, the biosimilars sector is predicted to treble in value in the next five years, from $481 million in 2011 to $1.4 billion in 2016. More than 20 biosimilar companies are currently operating in India, with around 55 products already on the market. India is one of the leading contributors in the world biosimilar market and is the third-largest in the Asia-Pacific region, after Australia and China.
The recent establishment of regulatory guidelines for biosimilars in India is expected to add further momentum to the growth of the global biosimilars market. Increasing pressure from governments and insurers for greater biologic competition, there exists an incredible opportunity for biosimilar producers to capitalise on what is set to become the fastest growing sector of the pharmaceutical industry. Due to the limited clinical database at the time of approval of a biosimilar, vigorous pharmacovigilance is required. & Biosimilars are set to become an important part of the future medicines market.
The Conference will bring together top pharmaceutical, biotechnology and regulatory representatives under one roof that will address the key issues of the industry. Hence, this 3rd Biosimilars Congregation 2013 will look at the multiple facets of biosimilars, ranging from the evolving regulatory landscape and challenges in clinical development, to the legal and economic aspects. By attending this conference you will gain a comprehensive outlook on the key issues surrounding biosimilars. This event will provide an important platform for Biosimilars stakeholders to discuss and share best practices in expediting Biosimilars development.
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