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 Herpes Simplex Virus Hsv Vaccines Market

Published Date : Nov 2023

Herpes simplex virus (HSV) is known for causing herpes infection. This is majorly found on genitals or mouth and can also be seen on various body parts. There are two types of herpes simplex virus, type 1 (HSV-1) and type 2 (HSV-2), in which HSV-1 is oral herpes causi... View more

Coherent Market Insights Isothermal Nucleic Acid Amplification Technology Inaat Market

Published Date : May 2023

Global isothermal nucleic acid amplification technology (INAAT) market is estimated to be valued at US$ 2,490.2  Million in 2023, exhibiting a CAGR of 8.4% during the forecast period (202... View more

Coherent Market Insights Dendritic Cell And Tumor Cell Cancer Vaccines Market

Published Date : Nov 2023

Cancer is an abnormal growth of cells in the body, also known as malignancy. It has the potential to replicate itself rapidly and invade into other body parts also. There are numerous types of cancer present. Dendritic cells (part of neuron) plays an important role in... View more

Coherent Market Insights Bacteriophages Therapy Market

Published Date : Sep 2023

The global bacteriophage therapy market is estimated to be valued at US$ 1,280.9 million in 2023 and is expected to exhibit a CAGR of 3.7% during the forecast period (2023-2030). ... View more

Coherent Market Insights Autologous Matrix Induced Chondrogenesis Market

Published Date : Nov 2023

Autologous matrix-induced chondrogenesis is an innovative treatment to repair articular cartilage damage. It is a one step process that uses the microfracturing method, which is followed by application of bilayer collagen I/III membrane by partially autologous fibrin ... View more

Coherent Market Insights Custom Recombinant Protein Production Services Market

Published Date : Sep 2023

The global custom recombinant protein production services market is estimated to be valued at US$ 4.9 billion in 2023 and is expected to exhibit a CAGR of 11.5% during the forecast period (202... View more

Coherent Market Insights Calcium Lactate Market

Published Date : Nov 2023

The global calcium lactate market size is expected to witness potential gains in the future, and register a significant CAGR of 1.7% in terms of value over the forecast period (2019 - 2027). Market Overview... View more

Coherent Market Insights Conjugate Vaccine Market

Published Date : Sep 2022

A conjugate vaccine is a type of subunit vaccine which combines a weak antigen with a strong antigen as a carrier so that the immune system has a stronger response to the weak antigen. Vaccines are used to prevent diseases by invoking an immune response to an antigen,... View more

Coherent Market Insights Lifescience Reagent Market

Published Date : May 2019

Lifescience Reagent Market Insights Increasing prevalence of infectious disease, which requires early diagnosis is creating the opportunity for the biotechnology industry players to produce effective reagents... 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 Electrophoresis Market

Published Date : Sep 2023

The global electrophoresis market is estimated to be valued at US$ 3.08 Billion in 2023 and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030). The increasin... View more

Coherent Market Insights Genomics Market

Published Date : Nov 2023

Genomics is the study of human genes and chromosomes. It focuses on structure, function, evolution, mapping, and editing of genomes. Genome is the genetic material of organism, which includes the Deoxyribonucleic acid (DNA). DNA consists the information needed to buil... View more

Coherent Market Insights Latin America Bone Graft And Substitutes Market

Published Date : May 2019

Increasing number of orthopedic surgeries, trauma cases, and dental graft implant procedures are expected to support growth of the Latin America bone graft and substitutes market over the forecast period. Rapid increase in adoption of ... View more

Coherent Market Insights Immuno Oncology Assays Market

Published Date : Nov 2022

The global immuno-oncology assays market was valued at US$ 3,718.5 Mn in 2021 and is forecast to reach a value of US$ 7,594.6 Mn by 2028 at a CAGR of 10.7% between&n... View more

Coherent Market Insights Antibodies Market

Published Date : Apr 2023

The global antibodies market is estimated to be valued at US$ 224,083.5 million in 2023 and is expected to exhibit a CAGR of 12.9% during the forecast period (2023-2030). ... View more

Coherent Market Insights Sterile Filtration Market

Published Date : May 2019

Sterile Filtration Market – Insights Sterile filtration is used in pharmaceutical industry to prevent microbial contamination. The process minimizes the risk of microbial contamination in patients by of... View more

Coherent Market Insights Biomarker Research Services Market

Published Date : May 2019

Biomarker Research Services Market – Insights Biomarkers are increasingly being used in all areas of medicine to help predict and characterize disease. The increasing focus on biomarkers is expected to ... View more

Coherent Market Insights Cell Culture Media For Vaccine Market

Published Date : May 2019

Cell culture media for vaccine plays a major role in advanced healthcare, as it regulates the cell cycle. It is the growth medium, available in liquid or gel form, developed to support growth of microorganisms, cells, or small plants. ... View more

Coherent Market Insights Animal Genetics Market

Published Date : Nov 2023

Animal genetics is a part of biotechnology, which involves study of genes, genetic variations, and heredity into animals. It studies gene expression, gene variants, reproduction, and traits. It includes genetic engineering also known as recombinant DNA technology, whi... View more

Coherent Market Insights Tissue Banking Market

Published Date : Sep 2022

A tissue bank is an establishment that collects and recovers human cadaver tissue for the purposes of medical research, education and allograft transplantation. A tissue bank may also refer to a location where biomedical tissue is stored under cryogenic conditions and... View more

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