Intriguing insights from the Samsung Bioepis Q4 Market Report certainly shed light on the promising future of biosimilars. As we gear up for #BiosimilarWeek this November, we observe that investment in biosimilars is a transformative step towards cost-effective healthcare and enhanced accessibility:
➡️ Regulatory: As of October 2023, the FDA has granted approval for 42 biosimilars across 12 unique biological molecules, signaling a well-established reg pathway and growing market acceptance. The situation is parallel in Europe, where biosimilar #adoption was pioneered. Conducting your #BEQ studies at Biokinetica early phase unit provides convenient access to the #EU market.
➡️ Cost Savings: Increased usage of biosimilars is directly correlated with lower costs, translating into significant healthcare savings, making them a cost-effective choice for patients, healthcare systems, and insurers.
➡️ TA sensitivity: Biosimilars exhibit greater sensitivity to price changes in areas like oncology, further underlining their cost-saving potential.
➡️ Market Share: The adoption of biosimilars varies by biological molecule, but acceptance has been greater in #Oncology than other TAs. On average, biosimilars gain 53% market share in three years post initial launch. This impressive market penetration underscores the growing trust and acceptance of biosimilars among both #healthcare providers and #patients.
Read more: https://lnkd.in/dFYiqXEC #biosimilardevelopment #biosimilar #bioequivalence
