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Technavio’s market research analyst predicts the global pharmerging markets to grow steadily at a CAGR of around 13% by 2021. One of the primary drivers for this market is the increasing focus toward biosimilar in potential areas. As most of the patents for originator biologics have expired, the vendors are focusing on the development of duplicate copies of biologics, called biosimilars. These biosimilars provide the same efficacy as that of parent molecule but at a cheaper cost.
The availability of cheap manufacturing resources such as land and labor has made the pharmerging market an important option for the development of these biosimilars. For instance, in 2014 trastuzumab, (a biosimilar of CANMab), which is indicated for the treatment of metastatic breast cancer was launched in India. Moreover, the on-going strong market growth in therapeutic areas will contribute further to higher penetration of the pharmerging markets over the next few years.
One of the latest trends gaining traction in this market is the rise in the positive outlook through the adoption of targeted therapies. With the growing incidences of chronic diseases such as cancer, which requires specific therapies for effective treatment, the implementation of targeted therapies is expected to witness substantial upward momentum. Research studies have demonstrated that targeted therapy has increased the survival rate and the cure rate in cancer patients. These drugs are expected to work effectively in the treatment of various cancers such as lung cancer, breast cancer, chronic myeloid leukemia, and lymphomas. Moreover, the rising awareness among physicians about the advantages of targeted therapies will further enhance the adoption rates during the forecast period.
The global pharmerging market is highly fragmented with the presence of a large number of local and international vendors distributed across the verticals. To gain a competitive advantage in this highly competitive market, the key players are moving toward consolidation, through acquisition and alliances; the competitive environment is expected to settle down at product innovation and launch level. Vendors that will offer customizable business model along with competitive pricing are also expected to grow during the forecast period.
In this market study, analysts have estimated the tier 2 segment to be a fastest growing segment in the pharmerging markets during the forecast period. Countries like Brazil, Russia, and India, are part of this segment. The countries in this segment receive significant investments for improving its healthcare infrastructure, but it is still insufficient to cover the demands of its population. Also, there are various areas in the regulations that need rectification from the government. Few of them are, in terms of pricing, public procurement, tax regulations, and registration of medicines. However, with a skilled workforce and strong technical and managerial competence, the pharmerging market in these countries is expected to grow massively in the coming years.
Upcoming trends such as the rising awareness toward health, increasing disposable income, and growing healthcare infrastructure has led to the emergence of multiple stakeholders value chains in the pharmaceutical markets. One of the most prominent value chains of these emerging stakeholders is the patient pool, who, with the increasing penetration of internet, read about their diseases, medications, brands, and finally opt for preventive treatment rather than curative.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the pharmerging markets. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Global pharmaceutical market
PART 06: Road to pharmerging markets
PART 07: Pharmerging markets
PART 08: Market landscape
PART 09: Market segmentation by geography
PART 10: Market overview of tier I countries
PART 11: Market overview of tier II countries
PART 12: Market overview of tier III countries
PART 13: Market drivers
PART 14: Impact of drivers
PART 15: Market challenges
PART 16: Impact of drivers and challenges
PART 17: Market trends
PART 18: Vendor landscape
PART 19: Key vendor analysis
PART 20: Appendix
PART 21: Explore Technavio
Tags: medical technology, pharma sector, medical devices, medical companies, healthcare industry outlook, medical devices industry overview,
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