The scale of biopharmaceutical excipients in the Asia Pacific region is nearly 800 million US dollars
Release time:
2020-06-04 10:17
According to a new report released by market research firm Grand View Research, the Asia Pacific biopharmaceutical excipient market was approximately $473.72 million in 2017 and is expected to reach $791.4 million by 2025. During the forecast period, this market will grow at a compound annual growth rate (CAGR) of 6.63%.
The high investment in the research and development of biosimilars, as well as the gradual loss of patent protection for the best-selling biologics, are expected to drive market development. And novel excipients can increase process yield and promote new product research by reducing the production risks of biologics. The increasing demand for similar drugs is an indispensable part of biopharmaceutical products. The excipients used in biopharmaceutical products require specific properties, which help ensure the stability of the product. From 2020 to 2030, 17 biologics will lose patent protection, promoting the development of the biosimilar drug market. Due to the aging population growth, lifestyle changes, and accelerated urbanization process, there is a huge potential demand for biosimilars in the Asia Pacific region. At the same time, the above factors lead to a high incidence of non communicable diseases, such as diabetes, cancer and autoimmune diseases. In Asia, there is a huge patient population whose medical needs have not been met, and the penetration rate of market participants continues to increase, prompting the biopharmaceutical industry to carry out more research and development activities related to biosimilars.
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