In the Asia Pacific biotechnology industry, biosimilars are witnessing greater acceptance and robust growth. The need to have affordable biologic drugs is the prime reason for growth in this segment. According to a new research report by RNCOS, the patented biologics usually belong to the regulated, developed markets, while the Asian countries are generally equipped to produce their biosimilar versions. As most of these drugs are on the verge of patent expiration, countries such as China and Singapore are all set to cash in on the opportunity.
All this is leading towards an extensive growth and strong R&D in the segment. On back of such developments, the biosimilars market in the region is anticipated to grow at a compound annual rate of around 19% during 2010-2013.
The report, Asia Pacific Biotechnology Market (2008-2012), says that strong factors, such as extensive government support and robust research are driving the Asia-Pacific biotechnology sectors growth. Countries, such as India, China and South Korea are showing the maximum evolvement, and the growth in the biotechnology segment has led to several sectors evolving rapidly in the Asia-Pacific market. Some of the most significant growth rates have been shown by Bioagriculture, Contract Research, Stem cell research and bioinformatics. As per the research, vaccines and therapeutics represent one of the most lucrative segments in the biotechnology industry.
The comprehensive study observed that the global players have acknowledged the significance of the Asia-Pacific biotechnology sector, and therefore, made attempts to penetrate this market. In this regard, consolidation activities have been growing significantly. The research work analyzes the biotechnology market in the region, and provides detailed product and geographical segmentation for the complete understanding of the industry. The report also presents forecasts, includes key market trends, and provides an overview of government regulations that will help clients make sound investment decisions.
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