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 Angioimmunoblastic T Cell Lymphoma Market

Published Date : Nov 2023

Lymphomas are a type of cancer that affects lymphocytes which are further divided into two categories based on the type of cell into T-lymphocytes and B-lymphocytes. Angioimmunoblastic T-cell lymphoma (AITL) is rare form of non-Hodgkin lymphoma which effects the T-lym... View more

Coherent Market Insights Bovine Serum Albumin Market

Published Date : Sep 2021

Bovine serum albumin (BSA or "Fraction V") is a serum albumin protein, which is extracted from blood plasma of cows. BSA is available in various forms such as powder or liquid for use in immunology, biochemistry and imm... View more

Coherent Market Insights Covid 19 Nasal Swab Test Market

Published Date : Sep 2021

COVID-19 (Coronavirus Disease) is caused by the novel coronavirus SARS-CoV-2, which is a RNA virus. Few of the common symptoms of COVID-19 include fever, dry cough, fatigue, and body ache. COVID-19 disease can be transmitted from one person to another by the inhalatio... View more

Coherent Market Insights Latin America Insulin Vials Market

Published Date : Aug 2021

Insulin is a peptide hormone required in the body for normal carbohydrate, protein, and fat metabolism. Insulin is produced in the pancreas by the beta cells in specialized areas of pancreas called islets of Langerhans. Insulin promotes glucose uptake in the body cell... View more

Coherent Market Insights Histology And Cytology Market

Published Date : Aug 2021

Cytology can be defined as the microscopic study of cell sample, which can be collected from any part of the body such as lungs, vagina, kidney, and others to assess the presence of irregular growth or lumps on the body surface. Cytology can also be used to assess abn... View more

Coherent Market Insights Neurological Biomarkers Market

Published Date : Aug 2021

Neurological biomarkers are detectable substances majorly found in the cerebrospinal (CSF) fluid when there has been some damage to the brain. These biomarkers help in early diagnosis of neurological disorders, drug development, and for developing personalized medicin... View more

Coherent Market Insights Plant Phenotyping Market

Published Date : Aug 2021

Plant phenotyping refers to a set of methods and tools used to measure plant characteristics or phenotypes such as height, color, etc. Phenotypes are affected by environmental factors and interactions between genes. The knowledge of phenotypic characteristics of a pla... View more

Coherent Market Insights Genomic Biomarker Market

Published Date : Aug 2021

Genomic biomarkers are indicators based on gene expression, gene mutation, gene regulation, and other gene characteristics that can be measured for clinical diagnosis. Genomic biomarkers can be used to detect neurological, oncological, and cardiovascular diseases. Gen... View more

Coherent Market Insights Cardiac Biomarkers Market

Published Date : Nov 2021

Cardiac markers are used for the diagnosis and risk stratification of patients with chest pain and suspected acute coronary syndrome (ACS) and for management and prognosis in patients with acute heart failure, pulmonary embolism, and other disease states. ... View more

Coherent Market Insights Antifreeze Proteins Market

Published Date : Aug 2021

Antifreeze proteins are capable of binding to ice by the phenomenon of adsorption and stopping the growth of ice crystals. This special property of antifreeze proteins finds its use in a variety of applications such as in food & beverage industry, medical industry... View more

Coherent Market Insights Blood And Blood Components Market

Published Date : Aug 2021

Blood and blood components are clinically used for blood transfusion to provide life-saving intervention to patient suffering from bleeding disorders, traumatic surgery, chronic diseases or rare blood diseases. Some of the bleeding disorders, which require blood trans... View more

Coherent Market Insights Covid 19 Rapid Diagnostic Test Market

Published Date : Dec 2021

The coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as a pandemic on March 11, 2020. COVID-19 infection is caused by the novel SARS-CoV-2, which is a member of single stranded RN... View more

Coherent Market Insights Gene Panel Market

Published Date : Jul 2021

Gene panel test is a genetic testing tool which sequences the whole genome of the patient suspected to be suffering from diseases caused due to genetic mutations or are genetically inherited such as cancer, cardiovascular diseases, and others. Few applications of gene... View more

Coherent Market Insights Spine Biologics Market

Published Date : Nov 2023

Biologics are the latest treatment used in clinical studies, particularly in orthopedic surgery. Spine biologics are biomaterials that alter the surroundings through their active cellular processes that promote growth and differentiation, thereby assisting in the repa... 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 Human Combination Vaccines Market

Published Date : Nov 2023

Combination vaccine couples two or more vaccines into a single vaccine shot which allows the user to get only a few shots for a number of diseases. For instance, MMR vaccine provides protection against three diseases viz. measles, mumps, and rubella. In addition, MMRV... 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 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

Coherent Market Insights Mena Biologics And Biosimilars Market

Published Date : Sep 2023

MENA biologics & biosimilars market is estimated to be valued at US$ 502.2 Mn in 2023, and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030). ... View more

Coherent Market Insights Acellular Dermal Matrices Market

Published Date : Oct 2023

Global acellular dermal matrices market is estimated to be valued at US$ 8.8 Bn in 2023, and is expected to exhibit a CAGR of 12.1% during the forecast period (2023-2030). ... View more

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