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.

View More

Biotechnology Published Insights

Coherent Market Insights Dna Extraction Kits Market

Published Date : Sep 2022

The global DNA extraction kits market was valued at US$ 1,389.7 Mn in 2021 and is forecast to reach a value of US$ 2,320.6 Mn by 2028 at a CAGR of 7.7% between ... View more

Coherent Market Insights Swine Fever Vaccine Market

Published Date : Aug 2022

African swine fever (ASF) and classical swine fever (CSF) are highly contagious viral diseases of pigs. They are clinically identical and cannot be definitively distinguished from one other in the field. A diagnosis must be verified by ... View more

Coherent Market Insights Spatial Omics Market

Published Date : Aug 2022

Omics is a term brief for various diverse studies which includes genomics, transcriptomics, proteomics and metabolomics. The traditional transcriptomics and proteomics approaches have provided insight into disease p... View more

Coherent Market Insights Fish Vaccine Market

Published Date : Aug 2022

Fish Vaccination describes the method of inducing defense mechanisms in fish against pathogenic bacteria by exposing them to non-pathogenic forms or microbe components. The three main ways to administer vaccines are orally, subcuta... View more

Coherent Market Insights Crispr Technology Market

Published Date : Aug 2022

The global CRISPR technology market is experiencing strong growth due to the increase in disease burden and rising demand and adoption of CRISPR. Moreover, increasing government and private funding and technological advancements are expected to boost ... View more

Coherent Market Insights Asia Pacific Wound Care Biologics Market

Published Date : Jun 2022

Wound care biologics refer to drugs extracted or semi-synthesized from natural sources which are used for controlling and healing infections. Wound care biologics are one of the widely preferred treatments in case of burns, as they enable fast recovery with minimum or... View more

Coherent Market Insights Rhu Albumin Market

Published Date : Jun 2022

Recombinant Human Albumin (rHu Albumin) is a product that is structurally comparable to native human serum albumin (HSA) but does not contain any animal components or serum rHu Albumin is a single-chain polypeptide with a molecular weight of 66 kilo kDa (kilo Dalton),... View more

Coherent Market Insights Middle East And Asia Pacific Cell And Gene Therapy Market

Published Date : Mar 2022

Plasmid DNA is becoming increasingly important in clinical research for gene therapy and genetic vaccine applications. Good manufacturing practice (GMP)-grade plasmid DNA is required for direct gene transfer into humans. The same is true if the drug material contains ... View more

Coherent Market Insights Covid 19 Sample Collection Kits Market

Published Date : Mar 2022

COVID-19 sample collection kits are used for diagnosis and detecting SARS-CoV2 virus infection. The collection kits include vital reagents provided for collecting samples and delivering them to the laboratory where the testing services will be performed on such sample... View more

Coherent Market Insights Ipv Vaccines Market

Published Date : Mar 2022

The IPV are very safe. At the site of injection pain or mild redness may occur. To preventfrom Poliomyelitis, which affects children under age of 5. This infection can turn into irreversible paralysis and can also cause death. There are two types of vaccines used: an ... View more

Coherent Market Insights Blood Based Biomarker Market

Published Date : Feb 2022

A biomarker (short for biological marker) is an objective measure that captures what is happening in a cell or an organism at a given moment. Biomarkers can serve as early warning systems for health. A blood-based biomarker (biological marker in the patient’s bl... View more

Coherent Market Insights Middle East And Asia Pacific Biotechnology Market

Published Date : Feb 2022

Biotechnology is biology-based technology that uses cellular and bimolecular processes to create technologies and products that improve the human lives and the health of the planet. Microorganisms' biological processes have been used for over 6,000 years to produce fo... View more

Coherent Market Insights Mr Vaccines Market

Published Date : Feb 2022

The measles and rubella (MR) vaccine, which protects against measles and rubella, is recommended by the Centers for Disease Control and Pre... View more

Coherent Market Insights Vaccines Market

Published Date : Feb 2022

Vaccines help to strengthen the immune system and protect it from dangerous, life-threatening diseases such as hepatitis, polio, tuberculosis, and others. Vaccines help the body to fight against path... View more

Coherent Market Insights Uk Cell And Gene Therapy Research Challenges Market

Published Date : Jan 2022

Gene therapy can be described as the transfer of genetic material mostly in a vector or carrier while cell therapy includes the transfer of cells with the applicable function into the patient’s body. In the broader sense, gene therapy involves introduction, with... View more

Coherent Market Insights Orthopedic Regenerative Medicine Market

Published Date : Oct 2023

The Global Orthopedic Regenerative Medicine Market is estimated to be valued at US$ 9.53 billion in 2023, and is expected to exhibit a CAGR of 10.7% during the forecast period (2023-2030).... View more

Coherent Market Insights Small Scale Bioreactors Market

Published Date : Dec 2021

Bioreactors are bioprocessing devices that are used for biochemical processing that involves biological active substances and micro-organisms. This bioprocessing can be aerobic or anaerobic. The various type of bioreactors are designed as cylindrical structures and co... View more

Coherent Market Insights T Cell Lymphoma Market

Published Date : Dec 2021

T-cell lymphoma is a type of blood cancer which arises from unregulated growth and multiplication of T-cell lymphocytes present in the immune system of the human body. T-cell lymphoma is of two major types: peripheral T-cell lymphoma and T-cell lymphoblastic lymphoma.... View more

Coherent Market Insights Biodegradable Scaffold Market

Published Date : Nov 2023

Scaffolds are materials that are used to stimulate the growth of cells or tissues in a desirable manner for formation of new functional tissues for medical applications. These scaffolds can be used as a support for organs or organ systems that have been damaged post i... View more

Coherent Market Insights Ataxia Market

Published Date : Oct 2021

Ataxia is a group of degenerative disorders associated with the cerebellum in the brain, which is responsible for regulating balance and coordination of the body. Ataxia does not have a cure and only its symptoms such as weakness, difficulty in movement and others can... View more

© 2023 Coherent Market Insights Pvt Ltd. All Rights Reserved.