London, 17 November 2014 – 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 is 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:
https://www.technavio.com/%3Cp%3E%C2%A0%3C/p%3E%3Cp%3E%3Cstrong%3EAbout%2…
