Menu

Stakeholders across the value chain need to collaborate and deliver a digitized patient-centric solution to truly address patients’ needs

The 2020 biosimilars market estimate for the MENA region was USD 1.6 billion with a double-digit growth rate before the pandemic hit the world. However, as the gravity of the situation started unfolding, it became explicit that there would be a decline of about 6% to 10% from the original estimate. This decline is attributed to the international supply chain disruptions, nation-wide lockdowns, overwhelmed healthcare infrastructure, poor patient adherence for injectable products and delay in the approvals and commercialization of new biosimilars in the region.

This decline will not cause long-term disruptions as patients requiring biological products have chronic conditions and their treatment requirement is for a lifetime. By mid-2021, the biosimilars industry is expected to get back on its original growth trajectory but around the contours of newer opportunities.

Prediction 1: Local production of biosimilars is expected to increase by 8%-10% in the next 3-4 years with government impetus, leading to more MNC-domestic collaboration

GCC countries such as the KSA and the UAE lead the local manufacturing initiatives and will continue to invest in greenfield manufacturing projects, especially for biosimilars. Favourable government policies (e.g., scrutiny of high-priced, exported branded drugs) and incentives towards R&D-intensive local manufacturing of monoclonal antibodies-based biosimilar drugs for rheumatoid arthritis, psoriatic arthritis and cancer will further boost the localization agenda in the next 3-4 years. With COVID-19 creating immense financial pressures on the payers, hospitals and patients, the government is looking for ways to lower healthcare costs and reduce out-of-pocket expenses for patients as a long-term strategy. Thus, it is expected that there will be faster reforms in the regulatory landscape that support the biosimilar category and the region will see growth in the number of local contract development and manufacturing organizations (CDMOs) and domestic manufacturing plants catering to the biosimilars market with potential drugs like adalimumab, rituximab, infliximab, etanercept and trastuzumab. It is recommended that drug OEMs prioritize choosing free economic zones and hotspot locations with maximum incentives to produce locally and team up with local pharmaceutical companies with high quality and technology standards. It will be critical for MNCs to strategically collaborate with local agents or distributors for expertise on domestic contacts, customs regulations, new laws and specific opportunities to localize their finished product manufacturing processes.

Prediction 2: Biosimilars Offered with Comprehensive Patient Support Programs will Gain Maximum Traction in the Region

With COVID-19 cases incessantly rising, the plans to return to normalcy loom under uncertainty, and patients’ dependence on medications, whether a biologic or biosimilar, to manage their chronic conditions is not going to slow down or stop. Several pharmaceutical companies are offering comprehensive and holistic support programs for their patients, providing financial support (access) and other value-added services (assistance) like online consultations with doctors, in-home diagnostic support, home delivery of medicines, nursing support for in-home injections, transportation support and counselling support. Frost & Sullivan research findings highlight that the brands with patient support programs for access will observe an increase in prescription rate by 6%; the brands with patient support programs for assistance will see an increase in prescription rate by 10% in the next 12 months. With biosimilars being introduced in the MENA region at 60% of the price of biologic counterparts, we believe that integrating biosimilars with patient assistance programs like telehealth, e-pharmacy and home nursing support would enable this segment to capture about 50% of the total market share by 2025.

Prediction 3: Virtual Interactions between Pharmaceutical Companies and Physicians will be the New Norm Post-COVID-19

We believe that in the next five years, more than 60% of physicians will prefer virtual interactions with pharmaceutical company representatives. One of the momentum shifts we are starting to see in the biopharmaceutical industry is the rigorous adoption of virtual collaboration tools for tele-detailing. Biopharmaceutical companies are currently working on prototypes that enable their medical representatives to interact and engage with physicians in a productive virtual environment. Companies are now adopting virtual collaboration tools for tele-detailing and supplementing them with social media platforms to inform and educate physicians in a more personalized manner. We see an immense opportunity for biosimilar companies in the region to leverage various digital channels like webcasts, webinars and virtual events to share the latest advancements in the biosimilars segment, like clinical data. Companies that are preparing to launch new biosimilars in the MENA region in 2020 should plan for a soft launch and leverage digital tools and technologies for their marketing activities with the Key Opinion Leaders (KOLs). Companies with biosimilars in their portfolio should initiate discussions and training sessions for key rheumatologists, dermatologists, gastroenterologists, oncologists and other specialists in the country and transition them to digital portals as a long-term strategy.

Conclusion

Biopharmaceutical companies need to redefine their strategic business models and leverage digital technology to be a winner in the post-COVID-19 world. To succeed, all stakeholders across the value chain must collaborate and deliver a digitized patient-centric solution to truly address patients’ needs.

This insight was prepared specially for Omnia Health Insights, visit here

For more information on Biosimilars Market or to schedule a dialogue with our analyst, please email Nimisha Iyer at nimisha.iyer@frost.com

About Suhasini Molkuvan

Suhasini MolkuvanDr. Suhasini Molkuvan is passionate in contributing to the growth of the pharmaceutical industry. She has spent more than 14 years focusing on uncovering the key unmet areas and providing strategic consulting support to pharmaceutical and life sciences clients in the MEASA region. She firmly believes that being a strategic consultant, the primary job is to help pharmaceutical clients identify their short-term and long-term growth opportunities. Dr. Suhasini currently heads the Pharmaceutical and Lifesciences vertical of Transformational Health business unit for the MEASA region at Frost & Sullivan.

In her current role, Dr. Suhasini works on unveiling the futuristic trends and most promising business models in the pharma domain, traversing with the clients in identifying the most impactful opportunities enabling them to reimagine their business with the end objective of Sustainable Value Creation to all stakeholders involved in the value chain.

She is an animal lover and works as a volunteer at animal NGOs trying to do her bit for stray cats and dogs. She envisages starting her own animal NGO for stray animals making a difference to the lives of the most loyal and humble creatures on the planet.

About Suhasini Molkuvan

Suhasini Molkuvan

Dr. Suhasini Molkuvan is passionate in contributing to the growth of the pharmaceutical industry. She has spent more than 14 years focusing on uncovering the key unmet areas and providing strategic consulting support to pharmaceutical and life sciences clients in the MEASA region. She firmly believes that being a strategic consultant, the primary job is to help pharmaceutical clients identify their short-term and long-term growth opportunities. Dr. Suhasini currently heads the Pharmaceutical and Lifesciences vertical of Transformational Health business unit for the MEASA region at Frost & Sullivan.

In her current role, Dr. Suhasini works on unveiling the futuristic trends and most promising business models in the pharma domain, traversing with the clients in identifying the most impactful opportunities enabling them to reimagine their business with the end objective of Sustainable Value Creation to all stakeholders involved in the value chain.

She is an animal lover and works as a volunteer at animal NGOs trying to do her bit for stray cats and dogs. She envisages starting her own animal NGO for stray animals making a difference to the lives of the most loyal and humble creatures on the planet.

Have Questions?

We have Answers.

Schedule a Complimentary Growth Strategy
Dialogue with an Industry Expert

877.GoFrost

(877.463.7678)

myfrost@frost.com

Powering Clients to a Future Shaped by Growth

   

Subscribe to the Growth Opportunity Newsletter!

Share This
X