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At the same time, Indias growing focus on tapping the $36 billion global biosimilars market highlights the need for real estate infrastructure that can support advanced manufacturing capabilities. This tech-driven evolution has been mirrored in the demand for state-of-the-art research and development (R&D) facilities and production hubs.
India’s pharma industry is on an impressive growth trajectory, expected to reach $65 billion by 2024 and to double to $130 billion by 2030. Renowned as a comprehensive, one-stop destination for innovative, cost-effective solutions, the expo will be showcasing the pharmaceutical industry’s modernisation, innovation, and sustainability.
The patent expiries of blockbuster biologics by 2025 present a significant growth avenue in the global biosimilars market. Indian pharma market is expected to move up to USD 120-130 Billion by 2030 from current size of USD 58 Billion.
With the Indian pharma market projected to grow to $ 130 billion by 2030 and $ 450 billion by 2047, the event highlighted the industry’s vital role in shaping global healthcare. Projections indicate exports will soar to $130 billion by 2030 and $450 billion by 2047. With exports nearing $27.84
Drugs vs. Biologics: What’s the Difference If you ask a layperson about biosimilars, you are likely to hear comparisons to generic drugs, and that would not be completely wrong. Biosimilar products are not drugs and they are not generic, in the sense that they’re not identical to the reference product.
These products are forecast to collectively generate over $32 billion by 2030, enabling AbbVie to financially rebound and continue its position as a leading immunology player, says GlobalData. billion due to the influx of biosimilars. billion by 2030. By 2030, the company is forecast to generate total revenue of $75.4
Dubbed Act4Biosimilars Action Plan, the new roadmap has been designed to boost the adoption of global biosimilar products by at least 30% points in more than 30 countries by 2030. It features crucial challenges that bar patients from gaining access to biosimilar medicines.
The National Health Commission of the People’s Republic of China launched a three-year “Weight Management Year” campaign in June 2024 as part of the broader Healthy China Action (2019-2030) and the Implementation Plan for the Prevention and Control of Obesity in Children and Adolescents.
UDENYCA , the only biosimilar to Amgens NEULASTA in the United States, is administered the day after chemotherapy treatment to decrease the incidence of infection by febrile neutropenia. The acquisition will expand Accord BioPharmas product portfolio and is expected to position the company for accelerated growth in the biosimilar industry.
Generic and biosimilar medicines provider Sandoz has introduced a global action plan to provide patients with quick access to biologic medicines. Dubbed Act4Biosimilars Action Plan, the new roadmap has been designed to boost the adoption of global biosimilar products by at least 30% points in more than 30 countries by 2030.
Coming Soon: ASBM/GaBI Webinar on IRA’s Medicare Price Negotiation Provisions ASBM and the Generics and Biosimilars Initiative (GaBI) are in the final planning stages for the first of two webinars examining the implications for patients and healthcare providers of the recently-passed Inflation Reduction Act (IRA).
With the Indian Pharma sector trying to reach the USD 130 Billion target by 2030, there is a renewed spirit of research in the areas of cell and gene therapy, biologics and biosimilars apart from the already strong generic and vaccine manufacturing sectors of the country.
Canakinumb, set for a 2030 launch, is a biosimilar to the established Ilaris therapy. With Ilaris’ US patent expiring in 2024, this biosimilar is anticipated to enter the market and potentially diminish Ilaris’ share. Towards the forecast period’s end, two additional anti-inflammatory therapies are expected to debut.
Coming Soon: ASBM/GaBI Webinar on IRA’s Medicare Price Negotiation Provisions ASBM and the Generics and Biosimilars Initiative (GaBI) are in the final planning stages for the first of two webinars examining the implications for patients and healthcare providers of the recently-passed Inflation Reduction Act (IRA).
Research by Roots Analysis predicts the pharmaceutical contract manufacturing market will value $140 billion by 2030. percent between 2022-2030. percent between 2022-2030. Based on the research by Roots Analysis, it is expected to hold 37 percent of the market share by 2030.
With the Indian pharmaceutical market projected to reach $130 billion by 2030, it is imperative that the budget supports the creation of a conducive ecosystem for cutting-edge research in pharmaceuticals. The industry is now at a pivotal moment, with an aspiration to grow to USD 120 billion by 2030.
Demand has risen rapidly in the last two years, driven by the increasingly bespoke solutions required for very sensitive new modalities like mRNA, the rapidly growing biologics pipeline and the need to increase access to biosimilars by lowering costs. The new zone will offer a central platform for partners to meet, connect and exchange ideas.
According to GlobalData’s recent Multiple Sclerosis: Seven-Market Drug Forecast and Market Analysis to 2030 – Update report, which identified 19 DMTs marketed for MS in the US, the average annual cost of therapy increased by 9% between 2020 and 2022. A similar trend of price increases was also seen for MS generics and biosimilars.
Indian Pharmaceutical sector trying to reach the USD 130 Billion target by 2030. key expectations include; 1) Strong Focus on Innovations: research in the areas of cell and gene therapy, new molecular entities, biologics and biosimilars should be promoted.
Recent developments in the biologic therapies sector include the authorisation of Pyzchiva ® (biosimilar ustekinumab) by the European Commission, and promising 12-month data for Roche’s subcutaneous injection of OCREVUS ® (ocrelizumab) for relapsing or primary progressive multiple sclerosis. Bn by 2030. Internet] Globe Newswire.
It develops, manufactures and commercialises complex biotech and biosimilar drug products at its production facility in Nova Lima. million cases by 2030, according to the Diabetes Atlas of the International Diabetes Federation (IDF). “We and Europe for Peptides.
With the Indian Pharmaceutical sector trying to reach the USD 130 Billion target by 2030, there is a renewed spirit of research in the areas of cell and gene therapy, new molecular entities, biologics and biosimilars.
India’s pharmaceutical industry is projected to reach $65 billion by 2024 and is expected to double to $130 billion by 2030. The event will include the Pharma Connect Congress, which will cover topics such as innovation in manufacturing, digital transformation in the pharma sector, and advancements in biosimilar research and manufacturing.
As for the future of PGHD, many panelists were asked how they envision use of PGHD in 2030. Where technology is used to generate PGHD for clinical trials of other medical products, sponsors may need to provide WiFi and/or phones to study participants if what the patient has will not meet requirements to avoid excluding patients.
Brimming with potential As per an Invest India report of 2023, the Indian Bioeconomy, valued at $137 billion in 2023, is targeted to reach $150 billion by 2025 and $300 billion by 2030. IBER Report 2023 divulges, “The biopharma vaccines (non-COVID alone) market makes a significant daily contribution of approximately $38 million. billion.”
20, 2023) (“The lack of an equivalent IVD on the market is the primary reason labs develop LDTs.”) [7] PRIA. 8] FDA assumes that user fees will cover much of the increased costs.
Over 100 biosimilar medicines are approved for nearly 30 reference medicines, testimony to the rigour of the scientific standards leading to the European authorisation process. This makes biosimilar medicines highly relevant. A significant number of the possible biosimilar candidates are not blockbuster medicines.
Dr Reddy’s Laboratories announced that its tocilizumab biosimilar candidate, DRL_TC, successfully met its primary and secondary endpoints in a Phase I study. Dr Reddy’s is developing the proposed tocilizumab biosimilar as both intravenous and subcutaneous formulations.” billion patients by 2030.”
billion by 2030 (2). Biocon Biologics gained EMA approval to manufacture biosimilar Bevacizumab at its advanced facility in Bengaluru, enhancing its credibility internationally. The CRO sector in India, growing at a compound annual growth rate (CAGR) of 10.75 per cent, is projected to reach $2.5 per cent, hitting $44.63
We can talk all the time, Montserrat said, but now is the time for action: early diagnosis, access to the best treatments, innovation, in addition to protection of intellectual property (IP), and after that biosimilars and generics. With 90% of adolescents that should be vaccinated by 2030, Luppi deems it an opportunity.
of revenue in 2023 from its four in-line therapies & bringing Pfizer $10B+ in risk-adjusted revenues by 2030. The authorization incl. multiple indications such as RA & Crohn's disease Hyrimoz was originally approved by the EC in 2018 with a concentration of 50mg/mL. 3 ADCs: Adcetris, Padcev & Tivdak.
While India was able to leverage the 2008 patent cliff of small molecules, the same playbook will not work for biologics and biosimilars. Many biopharma companies in India have already leveraged the biosimilar patent cliff. Biocon became the first company from India to launch its biosimilar Hulio in the US in July 2023.
We are confident that this partnership supports our efforts to manufacture and localise biosimilar products in the region and strengthen our market leading position in line with our strategy. This also stands as a commitment from our side to support the 2030 vision ofSaudi Arabiathrough localising biopharmaceutical products in the Kingdom.”
The sector is targeting a remarkable $130 billion by 2030 and a visionary $450 billion by 2047. The potential extension of the PLI scheme to biosimilars could further catalyze growth in this rapidly expanding segment. India’s pharmaceutical industry, a global leader in generics, is poised for exponential growth.
Indias pharma exports are projected to grow from $27 billion in 2023 to $65 billion by 2030 and could reach an estimated $350 billion by 2047. Innovation, including the shift towards specialty generics, biosimilars, and novel products, will be the key to Indias pharmaceutical future. Indian biosimilar exports, valued at ~$0.8
Looming patent expiries Patent expirations have been a significant opportunity for the Indian pharma space that is dominated by generics and biosimilars manufacturing. This trend is likely to continue as these companies continue to build a portfolio of branded specialty products and biosimilars.
As Hyderabad aims to expand its life sciences sector from $100 billion to $250 billion by 2030, adopting an integrated research campus model could be the key to achieving this growth.
Generic and biosimilar pharmaceutical company and Novartis subsidiary Sandoz announced its plan to accelerate patient access to biosimilars. In a 15 June statement, Sandoz said that it hoped the Act4Biosimilars action plan will provide actionable solutions to overcome barriers preventing patient access to biosimilars.
Edited excerpts Dr Patankar, there is a $75 billion biosimilars opportunity that is opening up due to the many biologics going off patent from 2022 to 2030. How do biosimilar companies in India ensure that they can leverage their strengths and maximise their opportunities during this period? So we need to keep that in mind.
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