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Biotechnology

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.”

  • Tufts Center for the Study of Drug Development

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:

  • Erbitux (cetuximab) - February 2016
  • Rituxan (rituximab) - September 2016
  • Herceptin (trastuzumab) - June 2019
  • Avastin (bevacizumab) - July 2019
  • Aranesp (darbepoetin alfa) - May 2024
  • Enbrel (etanercept) - November 2028

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.

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Biotechnology Published Insights

Coherent Market Insights Stem Cell Manufacturing Market

Published Date : Jul 2024

The global stem cell manufacturing market has been witnessing significant growth in the recent past due to the increasing incidence of chronic diseases and rapid advancement in stem cell-based therapies. Stem cells have the potential to treat various degenerative dise... View more

Coherent Market Insights Biosimilars Market

Published Date : Jul 2024

Global biosimilars market growth is driven by rising healthcare costs worldwide and the expiration of blockbuster biologics patents. Biosimilars provide affordable treatment options for chronic diseases such as cancer, diabetes, and autoimmune disorders. These offer s... View more

Coherent Market Insights Anti Venom Market

Published Date : Jul 2024

Global anti venom market growth is driven by rising incidence of snake bites and scorpion stings across tropical and sub-tropical regions of the world. Each year over 5 million people are bitten by snakes, out of which, around 2.7 million cases result in envenoming an... View more

Coherent Market Insights Personalized Cell Therapy Market

Published Date : Jul 2024

Global personalized cell therapy market growth is driven by increasing R&D investments by key players in developing advanced cell therapies for treating various chronic and life-threatening diseases. Personalized cell therapy involves isolation and manipulation of... View more

Coherent Market Insights Genetic Toxicology Testing Market

Published Date : Jul 2024

The global genetic toxicology testing market witnessed a steady growth during the historic period (2019-2028) and is projected to see positive gains in the forecast period (2024-2031. This can be primarily attributed to rising awareness about the safety assessment of ... View more

Coherent Market Insights Cell Cryopreservation Market

Published Date : Jul 2024

Cell cryopreservation involves preserving cells by cooling them to extremely low temperatures, usually -80°C or below using liquid nitrogen. It helps to preserve cells for a very long period of time without affecting their viability. Factors such as rising prevale... View more

Coherent Market Insights Tissue And Organ Transplantation Market

Published Date : Jul 2024

Tissue and organ transplantation refers to the surgical procedure of transferring tissues or organs from one person to another person to repair, replace or enhance the function of the recipient’s organ or tissue. The transplantation of tissues and organs has bec... View more

Coherent Market Insights White Biotechnology Market

Published Date : Jul 2024

White biotechnology utilizes biological processes such as enzymes to develop eco-friendly industrial products and processes. It utilizes renewable materials like plant waste, agricultural residues and organic waste to develop alternative fuels, bio-based chemicals and... View more

Coherent Market Insights Meningococcal Vaccines Market

Published Date : Jun 2024

Meningococcal disease refers to the bacterial infections causing meningitis and sepsis that can lead to serious illness or even death, if not promptly treated. Rising prevalence of these invasive meningococcal diseases along with growing awareness about the availabili... View more

Coherent Market Insights Plant Tissue Culture Market

Published Date : Jun 2024

Global plant tissue culture market is witnessing significant growth due to growing adoption of tissue culture techniques for large-scale propagation of mature plantlets and hybrid varieties. Tissue culture provides a rapid means of mass multiplication of elite plants ... View more

Coherent Market Insights Downstream Processing Market

Published Date : Jun 2024

Downstream processing refers to the purification and recovery steps in bioprocessing undertaken after fermentation to isolate the active ingredient or product of interest from cellular biomass or fermentation broth. It involves clarification to remove cellular debris ... View more

Coherent Market Insights Cardiac Biomarkers Market

Published Date : Jun 2024

Cardiac biomarkers refer to proteins that are present in blood when the heart muscle is damaged or stressed. They help detect and monitor various heart conditions. The cardiac biomarkers market has been witnessing significant growth over the past few years driven by t... View more

Coherent Market Insights Neurological Biomarkers Market

Published Date : Jun 2024

Neurological biomarkers help in objectively measuring and evaluating normal biological and pathogenic processes. These aid in detecting neurological disorders, assessing risk, tracking disease progression, and measuring response to therapeutic interventions. Rising in... View more

Coherent Market Insights Tooth Regeneration Market

Published Date : Jun 2024

Tooth regeneration is a promising area of research that aims to regrow the lost tooth structure. As people age, environmental exposures, injuries, and dental diseases are leading to increased tooth loss. If teeth cannot be restored through fillings or crowns, the only... View more

Coherent Market Insights Bone Marrow Transplant Market

Published Date : Jun 2024

Bone marrow transplant is a procedure that infuses healthy bone marrow stem cells to replace the damaged or unhealthy bone marrow of a patient. It is commonly used for treating various blood cancers like leukemia, lymphoma and other blood disorders. The stem cells can... View more

Coherent Market Insights Fish Vaccine Market

Published Date : Jun 2024

Global fish vaccine market has witnessed steady growth in the past few years, owing to rise in aquaculture industry and increasing prevalence of deadly fish diseases. Fish vaccines help prevent fish populations from infectious diseases, thus, avoiding heavy economic l... View more

Coherent Market Insights Research Antibodies Market

Published Date : Jun 2024

Global research antibodies market has been witnessing significant growth over the past few years, owing to increasing adoption of antibodies across various end-use sectors including pharmaceutical and biotechnology companies, academic institutes, contract research org... View more

Coherent Market Insights Single Use Bioreactor Market

Published Date : Jun 2024

The single-use bioreactor market has been gaining traction over the past few years owing to its advantages over conventional stainless-steel bioreactors. Single-use bioreactors use disposable flexible bags instead of stainless-steel containers for cell culture process... View more

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