U.S. :
+1-206-701-6702
UK :
+44-020-8133-4027
JAPAN :
+81-50-5539-1737
INDIA :
+91-848-285-0837
The biotech industry includes bio-pharma, bio-services, bio-agri, bio-industrials and bioinformatics. Biopharma is a rapidly growing segment that accounts for a dominant share in this sector. Advancements in biotechnology have enabled researchers to evaluate and identify target biomarkers/cell receptors to develop targeted and personalized therapies. Scientific research and technological advancements have resulted in the emergence of various personalized medicines that are undergoing research. According to research conducted by the Personalized Medicine Coalition, 42% of all compounds and 73% of oncology compounds in the pipeline possess the potential to be personalized medicine. Moreover, according to this study, it is expected that companies will increase their investment in R&D of personalized medicines by 1/3rd over the following five years. The study found that over 20% of drugs approved in 2014 were personalized medicines.
The biotechnology sector has witnessed some disruptive innovations such as gene and cell therapies, immunotherapy, and antibody drug conjugates. Advancement in stem cell therapy is resulting in effective treatment therapies for chronic conditions, organ growth and repair and disease prevention.
Key Challenges
Biotech products have extensive application in oncology and autoimmune disease treatment. However, the cost of these drugs is high owing to extensive research and trials that need to be carried out for the same. Therefore, there is constant pressure to reduce price and increase accessibility, especially in emerging economies. In the U.S., companies are facing reimbursement issues with respect to biopharmaceutical products. Besides, there are regulatory and scientific challenges faced by the sector. Scientific research for new molecules and targeted therapies is capital intensive and challenging owing to growing concern for safety of the drug.
Also, there is lack of awareness about personalized medicine among most healthcare providers, which may hamper its adoption. Clinical adoption of biotechnology products is essential for its success. However, it significant scientific evidence and backing is required to ensure its safety.
“Translating genomic discoveries into personalized medicines entails overcoming substantial scientific, regulatory, and economic challenges, including identifying validated biomarkers, as well as developing personalized therapeutics and clinically relevant diagnostic tests.”
Opportunities
The biopharmaceutical sector offers vast lucrative growth opportunities. High efficacy and safety of biopharmaceutical products has led to a growth in their demand, Furthermore, consumers are willing to pay high prices for biopharmaceutical products compared to other conventional products. Biopharmaceutical brands have set new standards for blockbuster drugs by recording an annual average sale of over US$ 2bn. Drugs such as Humira have generated sales revenue of over US$ 10bn.
Governments in emerging economies are endorsing biosimilars as cost-effective alternatives to biotech products, which is expected to create significant growth opportunities for manufacturers of generic drugs. Therefore, cost-effectiveness and high quality are prime parameters that need to be considered while developing biosimilars. Recent and upcoming biologic patent expirations include the following:
Companies such as Teva Pharmaceuticals, Hospira, Sandoz, and Amgen are focusing on development of biosimilars and vaccines as preventive measures in addition to treatment. For instance, in 2015, Zarxio TM became the first biosimilar to be approved in the U.S. market. The EMA approved Mosquirix, a malaria vaccine, in the same year. Extensive research is currently underway to develop a dengue vaccine, which could be another breakthrough pharmaceutical product in the near future.
Conclusion
The increasing research in the biotechnology sector is expected to result in higher number of biopharmaceutical products seeking FDA approvals. Biopharmaceuticals are positioned to be promising treatment solutions that would improve patient outcomes and help with reduction of the cost of drug development.
Stem cells are undifferentiated cells which are capable of differentiating into any type of cell that make-up the human body and thus, are capable of producing non-regenerative cells such as neural and myocardial cells. Sta... Read more
Increasing number of orthopedic surgeries is an important factor driving growth of the global bone regeneration materials market. According to the National Center for Biotechnology Information, in 2015, around 7,076 hospital admissions for total knee arthroplasties (T... Read more
Cathepsin B is a cysteine protease that is primarily found in the lysosomes of normal cells, but it is secreted or associated with the plasma membrane of many transformed cells. It is found in all animals and other organisms, and performs a key role in cellular protei... Read more
Transformer Oil Market - Coherent Market Insights... Read more
Genomics and proteomics form the core “omics” fields of life science research and account for a majority share of research in healthcare industry. The fields find application in agriculture and animal husbandry, drug discovery, forensics, proteogenomics re... Read more
Allogeneic human chondrocyte is an emerging therapy, which can be used for cartilage repair and other indications. Currently, very few market players are developing these therapies, wherein the studies are in clinical trial phase and are expected to soon receive appro... Read more
Lentiviral vectors are used as a means to deliver foreign genetic material into another cell. These vectors are developed from lentivirus, a type of retrovirus, which are characterized by their long incubation period and can infect both dividing and non-dividing cells... Read more
Epigenetics can be defined as the study of chemical modifications of some specific genes of an organism. A gene can be altered with change in the sequence of its DNA or epigenetic programming. Epigenetic drugs make it possible to reverse the aberrant gene expression w... Read more
Biotechnology can be segregated into four basic systems. The first system deals with use of biotechnology in pharmaceuticals. The next system involves the use of biotechnology to produce new chemicals and industrial processes. The next important segment comprises the ... Read more
A vaccine is a biological preparation that provides active acquired immunity to a particular infectious disease. Inactivated, attenuated, toxoid, subunit, conjugate, heterotypic, experimental, and valence are the types of vaccines. ... Read more
Transcriptome refers to a set of all the transcripts present in an individual or a population of cells. Transcripts comprise all types of ribonucleic acid (RNA) molecules namely, messenger RNA (mRNA), ribosomal RNA (rRNA), transfer RNA (tRNA), and other non-coding RNA... Read more
Single Nucleotide Polymorphism (SNP) represents the most common type of mutation in genomes of all life forms. SNP genotyping is the measurement of genetic variations of SNPs between members of a species. The global SNP genotyping ... Read more
Umbilical cord blood banking or cord blood banking is the practice of preserving blood from the umbilical cord for future use. Such preserved cord blood is used in medical therapies in the similar fashion as that of stem cells derived from bone marrow. ... Read more
White biotechnology refers to the adoption of biotechnology in developing methods to replace petroleum-based synthetics. It uses living cells to synthesize products that are easily degradable, require less energy and create less waste during their production. Statistics:... Read more
Meningococcal vaccine is used to prevent diseases caused due to Neisseria meningitidis, also known as meningococcus, is a Gram-negative bacterium that can cause meningitis and other forms of meningococcal disease such as meningococcemia. The global meningococcal vaccines market is estimat... Read more
A DNA microarray or chip is a semiconductor surface on which sequences of many varied genes are bonded to probes. DNA microarrays are used to quantify expression levels of numbers of genes simultaneously or to genotype multiple regions of a genome. The approach finds application in drug R&D, ... Read more
Cell and Tissue Culture Supplies Market – Insights A cell culture is basically keeping the cells taken out of a source in an artificial environment alive. Various instruments that are used for cell and tiss... Read more
Regenerative Therapies Market – Insights Regenerative therapies deliver specific types of cells or cell products to diseased tissues or organs to restore tissue and organ function. Materials used in regener... Read more
Sales Office (U.S.) : Coherent Market Insights 1001 4th Ave,
#3200 Seattle, WA 98154, U.S.
Asia Pacific Intelligence Center (India) : Coherent Market Insights 203, 2nd Floor,
Bremen Business Center, Aundh, Pune,
Maharashtra 411007, India.
UK :
+44-020-8133-4027
JAPAN :
+81-50-5539-1737
This website is secured Origin CA certificate on the server, Comodo, Firewall and Verified Sitelock Malware Protection
