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 Tissue And Organ Transplantation Market

Published Date : Dec 2020

Chronic diseases often lead to catastrophic damage to vital organs. This damage is usually irreversible and leads to lifetime dependency on medicines. Under such severe conditions, transplants remain the component for restoration of healthy life. ... View more

Coherent Market Insights Platelet Concentration Systems Market

Published Date : Dec 2020

Platelet concentration systems are designed for safe and rapid preparation of platelet rich plasma at the point-of-care from a small amount of patient’s blood sampl... View more

Coherent Market Insights Artificial Sperm Market

Published Date : Nov 2023

Artificial sperms are the artificial spermatozoa for individuals suffering from infertility. In fertile males, the spermatozoa is developed by mitosis, meiosis, and maturation in male gonad (testis) and the process is known as spermatogenesis. Males suffering from inf... 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 Stem Cells Market

Published Date : Aug 2023

The global stem cells market is estimated to be valued at US$ 12.9 Bn in 2023 and is expected to exhibit a CAGR of 9.1% during the forecast period (2023-2030). ... View more

Coherent Market Insights Bone Regeneration Materials Market

Published Date : Aug 2023

The global bone regeneration material market is estimated to be valued at US$ 2.61 billion in 2023 and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030).... View more

Coherent Market Insights Anti Cathepsin B Market

Published Date : Aug 2023

The Global Anti-Cathepsin B Market is estimated to be valued at US$ 187.0 Million in 2023 and is expected to exhibit a CAGR of 3.2 % during the forecast period (2023-2030). ... View more

Coherent Market Insights Cancer Biologics Market

Published Date : Nov 2023

Biologic drug is a product that contain components of living organisms such as animal, human, or produced from living organisms. Antibodies, vaccines, and interleukins are some examples of biologic drugs. Furthermor... View more

Coherent Market Insights Genomics And Proteomics Reagents Research Kits And Analytical Instrumentation Market

Published Date : Aug 2020

Genomics and proteomics form the core “omics” fields of life science research and account for a majority share of research in healthcare industry. The fields find application in agriculture and animal husbandry, drug discovery, forensics, proteogenomics re... View more

Coherent Market Insights Europe Allogeneic Human Chondrocyte Market

Published Date : Aug 2020

Allogeneic human chondrocyte is an emerging therapy, which can be used for cartilage repair and other indications. Currently, very few market players are developing these therapies, wherein the studies are in clinical trial phase and are expected to soon receive appro... View more

Coherent Market Insights Lentiviral Vectors Market

Published Date : Jul 2023

Global lentiviral vectors market is estimated to be valued at US$ 292 million in 2023 and is expected to exhibit a CAGR of 18.5% during the forecast period ... View more

Coherent Market Insights Epo Biomarkers Market

Published Date : Nov 2023

Erythropoietin (Epo) is a glycoprotein hormone that consists 165 amino acids with four complex carbohydrate chains attached to the peptide at four linkage sites. Epo adjusts red blood cell production to meet the tissue oxygen demand. Epo biomarkers are used for treati... View more

Coherent Market Insights Epigenetics Drugs And Diagnostic Technologies Market

Published Date : Jul 2023

The global epigenetics drugs & diagnostic technologies market is estimated to be valued at US$ 11.2 billion in 2023 and is expected to exhibit a CAGR of 18.8 % during the forecast period (... View more

Coherent Market Insights Biotechnology Market

Published Date : Jul 2023

Global biotechnology market is estimated to be valued at US$ 820.4 billion in 2023 and is expected to exhibit a CAGR of 12.3 % during the forecast period (2023-2030). ... View more

Coherent Market Insights Us Vaccine Market

Published Date : Jul 2023

The U.S. Vaccine market is estimated to be valued at US$ 23.8 billion in 2023 and is expected to exhibit a CAGR of 5.7% during the forecast period (2023-2030). ... View more

Coherent Market Insights Rabies Vaccine Market

Published Date : Nov 2023

Rabies is a viral zoonotic disease caused through a dog’s bite which leads to progressive and fatal inflammation of the brain and spinal cord. There are two type of rabies; furious rabies and paralytic rabies. Symptoms accompanied with furious rabies are hyperac... View more

Coherent Market Insights Transcriptomics Technologies Market

Published Date : Jul 2020

Transcriptome refers to a set of all the transcripts present in an individual or a population of cells. Transcripts comprise all types of ribonucleic acid (RNA) molecules namely, messenger RNA (mRNA), ribosomal RNA (rRNA), transfer RNA (tRNA), and other non-coding RNA... View more

Coherent Market Insights Snp Genotyping And Analysis Market

Published Date : Jul 2023

Global SNP genotyping and analysis market is estimated to be valued at US$  20.2 Billion in 2023, and is expected to reach US$ 80.7 Billion by 2030 exhibiting a CAGR of 2... View more

Coherent Market Insights Cord Blood Banking Services Market

Published Date : Jul 2023

Global cord blood banking services market is estimated to be valued at US$ 33.8 billion in 2023 and is expected to exhibit a CAGR of 6.1 % during the forecast period (2023-2030). ... View more

Coherent Market Insights White Biotechnology Market

Published Date : May 2020

White biotechnology refers to the adoption of biotechnology in developing methods to replace petroleum-based synthetics. It uses living cells to synthesize products that are easily degradable, require less energy and create less waste during their production. Statistics:... View more

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