A fusion protein biosimilars have come out as a new modality, as an alternate of biologic products due to their high cost. The fusion protein biosimilars merge the modified pharmacological properties of biological ligands, together with multiple functions of the fragmented crystallizable domain of immunoglobulins. The fusion protein biosimilars are utilized in various clinical studies based on applications like HIV-AIDS, cancer, chronic inflammatory diseases, and many other chronic diseases. So many applications of fusion protein biosimilars have raised their demand in the global market. Thus, the increase in prevalence of such chronic diseases anticipates surge in demand for biosimilars in the market.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the fusion protein biosimilars market.
Top Impacting Factors
- Increase in incidence of chronic diseases, surge in demand for cost-effective treatment options, expansion of the healthcare infrastructure, government initiatives, rise in number of approvals, and product launches are anticipated to fuel the growth of the fusion protein biosimilars market.
- The wide range of applications of fusion protein biosimilar in many chronic diseases like HIV-AIDS, chronic inflammatory disorders, cardiovascular disorder, cancer, and beneficial insurance along with FDA approval pathway for cost reductions projects to obtain high patient entry is the key factor projected to propel the growth of the fusion protein biosimilars market
- The regulatory approvals of faster-developing biosimilars indicate a notable change in the industry and the potential for severe drops in profits for pharmaceutical companies along with growing research efforts and in-pipeline drugs look for better opportunities for the fusion protein biosimilars market growth in the coming years.
- Difficult analytical characterization due to complex structure, associated side effects with prescribed drugs, stringent regulatory approvals, and time-consuming factors for clinical studies are expected to hinder the fusion protein biosimilars market growth.
New product launches to flourish the market
In January 2020, Coherus BioSciences, Inc. came into a licensing agreement with Innovent Biologics, (Suzhou) Co., Ltd., a major Chinese biopharmaceutical company, in order to commercialize biosimilar candidates to Avastin (bevacizumab) in North American countries like U.S and Canada.
In September 2018, SOTIO acquired Cytune Pharma. This agreement was signed to permit the company the utilization of Cytune’s SO-C101, a human fusion protein of IL-15 along with their autologous dendritic cell therapy platform DCVAC based clinical programs in lung, prostate, and ovarian cancer.
Surge in usage in chronic disease treatment
The fusion protein biosimilars are utilized in several clinical studies of HIV AIDS, cancer, chronic inflammatory diseases, and many other chronic diseases. The increase in prevalence of such chronic diseases and various applications of fusion protein biosimilars have increased their demand in the global market. Cancer expects to hold a higher share in the fusion protein biosimilars market due to increase in number of cancer cases among the growing population in the world.
Key Benefits of the Report
- This study presents the analytical depiction of the fusion protein biosimilars industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the fusion protein biosimilars market share.
- The current market is quantitatively analyzed to highlight the fusion protein biosimilars market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed fusion protein biosimilars market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the fusion protein biosimilars Report
- What is "Fusion protein biosimilars"?
- What is "Fusion protein biosimilars" Market prediction in the future?
- Who are the leading global players in the "Fusion protein biosimilars" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Fusion protein biosimilars" Market report?
Fusion Protein and Biosimilars Market Report Highlights
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Key Market Players
Novartis AG, Dr. Reddy’s Laboratories Ltd., F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Mylan N.V., Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., Samsung Bioepis, Pfizer Inc., AbbVie Inc.