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 3d Cell Culture Market

Published Date : Nov 2023

The Global 3d Cell Culture Market is estimated to be valued at US$ 4.89 Billion in 2023 and is expected to exhibit a CAGR of 23.4% during the forecast period (2023-2030). ... View more

Coherent Market Insights Patient Derived Xenograft Model Market

Published Date : Nov 2023

The Patient Derived Xenograft Model Market size is expected to reach US$ 346 million by 2030, from US$ 105.4 million in 2023, at a CAGR of 18.5% during the forecast period. Patient-derived xenograft (PDX) models are developed by implanting patient tum... View more

Coherent Market Insights Escherichia Coli Strain Market

Published Date : Nov 2023

The escherichia coli strain market is expected to reach US$ 3.14 Bn by 2030 from US$ 1.97 Bn in 2023; and is expected to exhibit a compound annual growth rate (CAGR) of 6.9% f... View more

Coherent Market Insights Red Biotechnology Market

Published Date : Nov 2023

Global Red Biotechnology Market size is expected to reach US$ 1,513.22 Bn by 2030, from US$ 742.80 Bn in 2023, exhibiting a CAGR of 10.7% during the forecast period. ... View more

Coherent Market Insights Flow Imaging Microscopy Analysis Market

Published Date : Nov 2023

The flow imaging microscopy analysis market size is expected to reach US$ 67.1 Mn by 2030, from US$ 39.6 Mn in 2023, at a compound annual growth rate (CAGR) of 7.8% during the forecast period. Flow imaging ... View more

Coherent Market Insights Bioengineered Artificial Skin Market

Published Date : Nov 2023

Global bioengineered artificial skin market is value at US$ 3.32 Billion In 2023 and is expected to grow at a compound annual growth rate (CAGR) of 16.9% to reach US$ 9.92 Billion by 2030. Factors such as increas... View more

Coherent Market Insights Marine Biotechnology Market

Published Date : Nov 2023

Global Marine Biotechnology Market is expected to reach US$ 10.8 Bn by 2030, from US$ 6.4 Bn in 2023, exhibiting a CAGR of 7.8% during the forecast... View more

Coherent Market Insights Vaccine Technologies Market

Published Date : Nov 2023

The global vaccine technologies market size is estimated to be valued at US$ 45.40 Bn in 2023 and is expected to reach US$ 91.50 Bn by 2030, growing at a compound annual growth rate (CAGR) of 10.5% from 2023 to 2030 ... View more

Coherent Market Insights Humira Biosimilar Market

Published Date : Nov 2023

Global humira biosimilar market is projected to witness substantial growth in the near future, and the market size is expected to increase from US$ 772.1 Mn in 2023 to US$ 3,871.4 Mn by 2030, with a compound annual growth rate (CAGR) of 25.9%.... View more

Coherent Market Insights Lyophilization Services For Biopharmaceuticals Market

Published Date : Oct 2023

Biopharmaceutical stabilization or lyophilisation or freeze drying is a process in which water is removed from a product after it is frozen and placed under a vacuum, allowing the ice to change directly from solid form to vapour form without passing through liquid state. The process consists of t... View more

Coherent Market Insights Occupational Health Market

Published Date : Oct 2023

The global occupational health market size was valued at US$ 4.81 Bn in 2023 and is expected to reach US$ 7.47 Bn by 2030, grow at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030. Occupational health re... View more

Coherent Market Insights Electrocompetent Cells Market

Published Date : Oct 2023

The global electrocompetent cells market size was valued at US$ 2.07 Billion in 2023 and is projected to reach US$ 4.16 Billion by 2030, at a CAGR of 10.5% during the forecast period. The rising demand for electrocompetent cells in th... View more

Coherent Market Insights Neutralizing Antibody Market

Published Date : Oct 2023

The global neutralizing antibody market size was valued at US$ 190.44 billion in 2023 and is projected to reach US$ 338.86 billion by 2030 at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. The rising ... View more

Coherent Market Insights Bioprocess Validation Market

Published Date : Oct 2023

The Bioprocess Validation Market size is expected to reach US$ 460.9 million by 2030, from US$ 882.4 million in 2023, growing at a CAGR of 9.7% during the forecast period. Bioprocess validation refers to the process of demonstrating and ensuring that ... View more

Coherent Market Insights Personalized Genomics Market

Published Date : Oct 2023

The global personalized genomics market size is expected to reach US$ 27.77 Billion by 2030, from US$ 9.14 Billion in 2023, at a CAGR of 17.2% during the forecast period. Personalized genomics involves the sequencing and analysis of an individual&rsqu... View more

Coherent Market Insights Tumor Microenvironment Market

Published Date : Oct 2023

The global tumor microenvironment market size was valued at US$ 1.47 Bn in 2023 and is expected to reach US$ 3.43 Bn by 2030, grow at a compound annual growth rate (CAGR) of 12.9% from 2023 to 2030. ... View more

Coherent Market Insights Us Acellular Dermal Matrices Market

Published Date : Oct 2023

The U.S. acellular dermal matrices market is estimated to be valued at US$ 2.79 Bn in 2023 and is expected to exhibit a CAGR of 11% during the forecast period (2023-2030). ... View more

Coherent Market Insights Amniotic Membrane Market

Published Date : Oct 2023

The global amniotic membrane market is estimated to be valued at US$ 3.62 billion in 2023 and is expected to exhibit a CAGR of 13% during the forecast period (2023-2030). ... View more

Coherent Market Insights Oligonucleotide Synthesis Market

Published Date : Oct 2023

The global oligonucleotide synthesis market is estimated to be valued at US$ 3.81 Billion in 2023 and is expected to exhibit a CAGR of 10.9% during the forecast period (2023-2030).... View more

Coherent Market Insights South East Asia And South Asia Industrial Microbiology Market

Published Date : Oct 2023

South East Asia and South Asia industrial microbiology market is estimated to be valued at US$ 746.1 Mn in 2023, and is expected to exhibit a CAGR of 6% during the forecast period ... View more

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