Why India Must Turn Biosimilar Powerhouse By 2030

Biosimilars could potentially enhance patient access to treatment of various malignant and nonmalignant conditions by reducing costs. Since the introduction of the first biosimilar in 2000 in India, a vaccine for hepatitis B, the development and utilisation of "biosimilars or similar biologics" have experienced significant growth.

- Amguth Raju

Each year, regulatory bodies are approving numerous similar biologics for the management of both cancerous and noncancerous illnesses. India has firmly positioned itself as a key player in the global production of similar biologics, benefiting from its large population.

Despite the considerable potential and high expectations for India, there are substantial challenges that must be overcome to maintain this leadership position. To realise their full potential and sustain their global leadership, Indian biopharmaceutical companies must enhance their technological capabilities and enhance the skills of their workforce. This will require a supportive environment from both the government and regulatory agencies.

As Indian biopharma sector already proved its mettle in the manufacture of biosimilars and captured vast global markets as one of the key supplier of low cost, high quality medicines for various therapeutics, industry leaders and lead scientists opined that country's biotech industry stands at a pivotal juncture of dynamic transformation from current capabilities of a mere replicator of existing original brands to becoming innovator in developing new and complex molecules by giving renewed push to its R&D sector.

With more than 55 blockbuster branded biologics going off patent from 2022 to 2032 globally, according to McKinsey report August 2022 the Indian biosimilars manufacturers can grab this opportunity to bring in not just affordable biosimilars products in place of costly branded biologics but can also grab the huge business potential offered by the global markets for biosimilars products. At present, the Indian biologics and biosimilars market is rapidly growing, from $6 billion in 2022 to a projected $12 billion by 2025.