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 less

Specialty and Fine Chemicals

Cosmetic Ingredients

Food Ingredients

Aerospace and Defense

Automotive and Transportation

Consumer Electronics

Construction Engineering

Industrial Automation and Machinery

Semiconductors

Smart Technologies

Information and Communication Technology

Biotechnology Published Insights

Bio Pharmaceuticals And Biomedicine Market

Published Date : Dec 2024

The Global Biopharmaceutical and Biomedicine Market is estimated to be valued at USD 571.10 Bn in 2024 and is expected to reach USD 1,254.21 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.91% from 2... View more

Biomarker Research Services Market

Published Date : Dec 2024

Global biomarker research services market is estimated to be valued at USD 6.81 Billion in 2024 and is expected to reach USD 191.10 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 61% from 2024 to 2031. The global biomarker research services market... View more

Personalized Medicine Biomarkers Market

Published Date : Dec 2024

Global personalized medicine biomarkers market is estimated to be valued at USD 24.70 Bn in 2024 and is expected to reach USD 68.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031. Personalized medicine biomarkers market refers t... View more

Metagenomics Market

Published Date : Nov 2024

Global metagenomics market is estimated to be valued at USD 2.18 Bn in 2024 and is expected to exhibit a CAGR of 8.1% during the forecast period (2024-2031). Metagenomics is the study of genetic material recovered directly from environmental samples without cultivatin... View more

Cell Free Protein Expression Market

Published Date : Nov 2024

Global cell-free protein expression market is estimated to be valued at USD 318.1 Mn in 2024 and is expected to exhibit a CAGR of 7.1% during the forecast period (2024-2031). Cell-free protein expression, also known as in vitro protein synthesis, is a biotechnological... View more

Bovine Serum Albumin Market

Published Date : Aug 2024

Bovine serum albumin (BSA) is a protein derived from cows that has wide application in life sciences research and biotechnology industries. As a blood derivative, BSA plays a critical role as a protein standard and blocking agent in techniques like enzyme-linked immun... View more

Vaccines Market

Published Date : Aug 2024

The global vaccines market has been witnessing steady growth over the past few years due to the rising prevalence of various infectious diseases and technological advancements in vaccine production. Vaccines aid in building immunity against specific diseases and allow... View more

Pneumococcal Vaccines Market

Published Date : Aug 2024

Global pneumococcal vaccines market growth is driven by factors such as rising incidence of pneumococcal diseases worldwide and growing immunization programs by various governments. Moreover, increasing awareness among people regarding pneumococcal vaccina... View more

Digital Genome Market

Published Date : Aug 2024

The global digital genome market is set to grow substantially over the next decade driven by declining costs of genomic sequencing and data analysis. Advancements in technologies for high-throughput DNA sequencing are enabling researchers to sequence entire human geno... View more

Biochips Market

Published Date : Aug 2024

Global biochips market consists of technology used for detecting and identifying biological molecules from pathogens and genes to proteins and DNA sequences. Biochips are used in drug discovery, disease diagnosis, and food safety, among others. Increasing ... View more

Histology And Cytology Market

Published Date : Jul 2024

Global histology and cytology market growth is driven by rising prevalence of chronic diseases worldwide. Histology and cytology procedures play a crucial role in disease diagnosis and pathological examinations. Factors such as growing geriatric population, increasing... View more

Global Cancer Therapeutics And Biotherapeutics Market

Published Date : Jul 2024

Cancer therapeutics and biotherapeutics is a large and growing market globally. While conventional treatment options such as chemotherapy have limitations, newer biological and targeted therapies are revolutionizing cancer treatment. Biological therapies harness the p... View more

Global Cell And Tissue Preservation Market

Published Date : Jul 2024

Cell and tissue preservation is the process of stabilizing and storing biological samples and specimens for future use in research, clinical applications, and diagnostic procedures. It helps maintain the structural integrity and biological functionality of cells and t... View more

Stem Cell Manufacturing Market

Published Date : Jul 2024

The global stem cell manufacturing market has been witnessing significant growth in the recent past due to the increasing incidence of chronic diseases and rapid advancement in stem cell-based therapies. Stem cells have the potential to treat various degenerative dise... View more

Biosimilars Market

Published Date : Jul 2024

Global biosimilars market growth is driven by rising healthcare costs worldwide and the expiration of blockbuster biologics patents. Biosimilars provide affordable treatment options for chronic diseases such as cancer, diabetes, and autoimmune disorders. These offer s... View more

Anti Venom Market

Published Date : Jul 2024

Global anti venom market growth is driven by rising incidence of snake bites and scorpion stings across tropical and sub-tropical regions of the world. Each year over 5 million people are bitten by snakes, out of which, around 2.7 million cases result in envenoming an... View more

Personalized Cell Therapy Market

Published Date : Jul 2024

Global personalized cell therapy market growth is driven by increasing R&D investments by key players in developing advanced cell therapies for treating various chronic and life-threatening diseases. Personalized cell therapy involves isolation and manipulation of... View more

Genetic Toxicology Testing Market

Published Date : Jul 2024

The global genetic toxicology testing market witnessed a steady growth during the historic period (2019-2028) and is projected to see positive gains in the forecast period (2024-2031. This can be primarily attributed to rising awareness about the safety assessment of ... View more

Biotechnology Published Insights

Credibility and Certifications