Biotechnology
The biotech industry comprises bio-pharma, bio-services, bio-agri, bio-industrials and bioinformatics. Biopharma is a rapidly growing segment that accounts for a dominant share of this sector. Advancements in biotechnology has enabled researchers to evaluate and identify target biomarkers/cell receptors to develop targeted and personalized therapies. Increasing scientific understanding, advanced tools and techniques has led to emergence of various personalized medicines that are now in research phase. According to a research conducted by 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.
Biotech 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 also in disease prevention.
Key Challenges
Biotech products have extensive usage in oncology and autoimmune disease treatments. However, the costs of these drugs are exorbitantly 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, with increased concern for safety of the drug.
Also, there is lack of awareness about personalized medicine among most healthcare providers, which hinders its adoption. Clinical adoption of the biotech products is essential for its success. However, it entails a lot of scientific evidences and explanation to the prescribers in order 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 increased demand for the same, with consumers willing to pay high prices for these as compared to other conventional products. Moreover, biopharmaceutical brands have set new standards for blockbuster drugs by recording an annual average sales of over US$ 2 Bn. Certain drugs such as Humira have generated sales of over US$ 10 Bn. Thus, investing in biotech R&D has yielded better results than pharmaceutical drugs.
For generic players, biosimilars offers a very good growth opportunity, as governments in emerging economies are supporting such therapies as cost-effective alternatives to biotech products. 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 their resources ondevelopment of biosimilars. Also, vaccines are other major products in development to focus on prevention aspect rather than just treatment. For instance, 2015 marked the U.S. launch of Zarxio TM, the first biosimilar approved in this market and the EMA approval of Mosquirix, the malaria vaccine. Extensive research is currently underway to develop a dengue vaccine, which could be another breakthrough pharmaceutical product in the near future.
Conclusion
Increasing research in biotech sector, in turn would translate into higher number of biopharma products seeking FDA approvals in future. Biopharma is positioned to be a promising treatment solution that would improve treatment outcomes and serve to accelerate and help reduce cost of drug development.
Published Date : Jul 2018
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Dental Bone Graft and Substitutes Market Insights Dental bone grafts are used as fillers or scaffolds that facilitate bone formation and helps in the wound healing and are suitable for a variety of clinical p
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Flow Cytometry – It’s not just for immunologist anymore Flow cytometry is a widely used method for analyzing the expression of cell surface and intracellular molecules. It can also characterize a
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Cell Free Protein Expression Market – Insights Cell free protein expression is al
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Forensic Technologies and Services: Revolutionizing Crime Solving Advanced technologies in forensics science have been of substantial importance in recent years. Few examples of such advancements include enha
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Single cell genome sequencing involves isolating a single cell and amplifying and sequencing genes within that single cell. Sequencing single cell carries significant importance as individual cells can differ at great extent in size, protein levels, and expresse
To Be Published : Aug 2018
Antibodies are common and essential research tools for various applications, including enzyme-linked immunosorbant assay (ELISA), flow cytometric analysis, immunoprecipitation, immunocytochemistry, immunohistochemistry, and western blotting. Monoclonal antibodies (MAb
To Be Published : Aug 2018
Non-insulin therapies are mostly used in type 2 diabetes patients, where body either does not produce enough insulin or is unable to effectively use the insulin it produces. Non-insulin-based medication works with different mechanism of action to reduce blood glucose
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A biological preparation that is used to provide active acquired immunity to a particular disease are called as vaccines. Vaccines are commonly of four types: live-attenuated vaccines, toxoid vaccines, subunit vaccines, and inactivated vacc
To Be Published : Aug 2018
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Hemodialysis is one among the three renal replacement therapies used for extracorporeal separation of waste components from the blood in case of kidney failure. Hemodialysis access, also known as vascular access
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To Be Published : Aug 2018
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To Be Published : Aug 2018
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To Be Published : Aug 2018
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Adjuvant is key material that is expressed as a part of vaccine, which boost its capability to promote defense mechanism against infection. Adjuvant supports to activate immune system and permit the antigens pathogen constituents that cause an immune response in vacci
To Be Published : Aug 2018
Cell therapy is one of the most promising healthcare procedure for restoration of damaged tissue. Cell therapies have huge potential for the wide range of disease treatment including tissue degradation, immune deficiency, metabolic disorders, and cancer. Cell therapy
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To Be Published : Aug 2018
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To Be Published : Aug 2018
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Vaccines are the most imperative mediations for disease control among animals and humans. Under veterinary pharmaceuticals, vaccination is considered as a windfall for maintaining animal health by preventing spread of several endemic diseases. Such diseases which can
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