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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

Stem Cell Banking Market, by Source Type (Cord Blood and Cord Tissue), by Service Type (Collection and Transportation, Processing, Analysis and Storage), by Application (Leukemia, Diabetes, Lymphoma, Cerebral Palsy, Thalassemia and Others), and by Region - Global Trends, and Forecast to 2025 ...

Published Date :Feb 2018

Stem Cell Banking Market – Assurance for a Lifetime Stem cells are building blocks of the immune system and blood, and they have the ability to develop into other cell types, in order to help in repairi... Read more

Coherent Market Insights

Genome Engineering Market, By Technology (CRISPR, TALEN, ZFN, and others), By Application (Cell Line Engineering, and Genetic Engineering), By End User (Biotechnology & Pharmaceutical Companies, Research Institutes, and Contract Research Organizations) and by Geography - Global Trends and Forecast to 2025 ...

Published Date :Apr 2018

Genome Engineering Market- Insights Genome engineering is a process of insertion, deletion, modification or replacement of DNA bases in an organism. There are two types of gene therapy, Ex-Vivo Gene Therapy a... Read more

Coherent Market Insights

Anti-venom Market, by Anti-venom Type (Polyvalent, Monovalent), by Product Type (Snake Anti-venom, Scorpion Anti-venom, Spider Anti-venom, Other Anti-venom product), by Distribution Channel (Hospitals, Private Clinics, Ambulatory Surgical Centers) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026 ...

Published Date :Jan 2019

Anti-venom Market- Insights Anti-venom is a medicine used in the treatment of bite from venomous animals including snake, scorpion, spider, jellyfish, stone fish and others. Anti-venoms are sub-categorized in... Read more

Coherent Market Insights

Biochips Market By Product Type (DNA Chips, Protein Chips, Lab-on-a-Chip, and Others), By Technology (Microfluidics and Microarray), By Application (Genomics, Proteomics, Drug Discovery & Development, and In Vitro Diagnostics) and by Geography - Global Trends and Forecast to 2025 ...

Published Date :Apr 2018

Biochips Market - Insights Biochips are miniaturized laboratories, which can perform simultaneous biochemical reactions. On the basis of functionality, biochips are classified as DNA chips, protein chips, lab... Read more

Coherent Market Insights

U.S. Influenza Vaccines Market, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus Type A and Influenza Virus Type B), and by Age Group (Pediatrics and Adults) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027 ...

Published Date :Mar 2020

U.S. Influenza Vaccines Market– Prevention of Virus through Vaccination Aids in Reducing Burden of the Disease Influenza is an infection caused by influenza virus and is commonly known as flu. Vaccina... Read more

Coherent Market Insights

Global Pharmacogenomics Market, by Technology Type (Polymerase Chain Reaction, Sequencing, Microarray, and Other Technologies), and by Application (Drug Discovery and Therapeutic Application) and by Geography - Trends and Forecast to 2025 ...

Published Date :Jun 2018

Global Pharmacogenomics Market - Insights Pharmacogenomics deals with the influence of genetic variation on drug response in patients by correlating gene expression changes and Single-Nucleotide Polymorphisms... Read more

Coherent Market Insights

Recombinant DNA Technology Market, by Product Type (Recombinant Protein Drugs, Vaccines, Genetically Modified Crops, Expression Systems, Cell and Gene Therapy and Gene Editing), by Application (Therapeutics, Agriculture and Research), and by Region - Global Industry Insights, and Forecast to 2025 ...

Published Date :Apr 2018

Recombinant DNA Technology Market – Power of Genetic Engineering in Improving Lives Recombinant DNA (rDNA) technology is a novel technique which have led to the advances in a number of different fields ... Read more

Coherent Market Insights

Cell Lysis Market, by Product Type (Instruments and Reagents & Kits), by Cell Type (Mammalian Cells, Microbial Cells and Insect, Yeast and Plant Cells), By End User (Academic and Research Laboratories and Pharmaceutical and Biotechnology Laboratories), and by Geography - Global Industry Insights, and Forecast to 2025 ...

Published Date :Apr 2018

Cell Lysis Market – Insights Cell lysis is the first step of protein extraction, which is further used for different application such as enzyme engineering and protein labelling. Furthermore, cell lysis... Read more