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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... View more
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.”
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:
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
Published Date : Jan 2024
Optical Genome Mapping (OGM) is a revolutionary approach to analyzing and visualizing the structural organization of a genome. Unlike traditional methods, such as next-generation sequencing (NGS), which provides high-resolution data on the sequence level, OGM captures... View more
Published Date : Jan 2024
Long read sequencing which is also known as third-generation sequencing, allows sequencing of longer deoxyribonucleic acid (DNA) fragments as compared to traditional short read sequencing technologies. There are two main products in the long read sequencing market - P... View more
Published Date : Jan 2024
G-protein coupled receptors (GPCRs) constitute a prominent and diverse family of cell surface receptors that play pivotal roles in cellular signaling and communication. These receptors are integral membrane proteins characterized by their distinct structural features,... View more
Published Date : Jan 2024
Single cell omics refers to the application of omics technologies to individual cells to obtain a comprehensive view of their molecular characteristics and behavior. The term "omics" encompasses several disciplines in molecular biology that include genomics, transcrip... View more
Published Date : Jan 2024
Animal biotechnology is the use of biological processes and systems in animals to develop or modify products and processes for specific use. It involves the genetic engineering and cloning of animals for producing new drugs and vaccines. The growing demand for livesto... View more
Published Date : Jan 2024
Sequencing consumables refer to the reagents, consumables, and kits used in next-generation sequencing (NGS) technologies. Next-generation sequencing has revolutionized genomic research and clinical diagnostics in recent years by allowing large-scale, fast, and low-co... View more
Published Date : Jan 2024
Antisense & RNAi therapeutics refer to a class of drugs that use naturally occurring processes to target and inhibit the expression of specific genes. They work by binding to mRNA or genomic DNA with high specificity. This inhibits the expression of disease-associ... View more
Published Date : Jan 2024
Direct-to-consumer genetic tests (DTC-GT) are genetic tests sold directly to consumers to provide information about their genetic information (generally ancestry, some health traits, and health risks) from a saliva sample. Three main categories of genetic testing are ... View more
Published Date : Jan 2024
Platelet concentration systems are pivotal medical devices that are used for concentrating platelets collected from donor's blood. The platelet-rich plasma or PRP derived from these systems contain a higher density of platelets than normal blood. PRP is defined as pla... View more
Published Date : Dec 2023
Protein sequencing is a crucial technique used in the field of biochemistry and molecular biology to determine the order of amino acids in a protein. This process helps in understanding the structure and function of proteins, which are essential in various biological ... View more
Published Date : Dec 2023
Spatial genomics transcriptomics refers to a set of advanced techniques that enable the simultaneous analysis of both the spatial distribution of genetic material (transcriptomics) and the physical context within biological tissues. This approach provides insights int... View more
Published Date : Dec 2023
A baculovirus expression system is a highly versatile and widely utilized tool in biotechnology for the production of recombinant proteins. Baculovirus is an insect virus that infects insect cells, and they have been engineered to express foreign genes of interest. Th... View more
Published Date : Nov 2023
The Global 3d Cell Culture Market is estimated to be valued at US$ 4.89 Billion in 2023 and is expected to exhibit a CAGR of 23.4% during the forecast period (2023-2030). Analysts’ Views on the Global 3D Cell Culture Market: 3D cell culture refers to the cultivation of cells in an environmen... View more
Published Date : Nov 2023
The Patient Derived Xenograft Model Market size is expected to reach US$ 346 million by 2030, from US$ 105.4 million in 2023, at a CAGR of 18.5% during the forecast period. Patient-derived xenograft (PDX) models are developed by implanting patient tumor samples into immunodeficient mice. These model... View more
Published Date : Nov 2023
Escherichia Coli, commonly known as E. coli, is a strain of bacteria that has garnered significant scientific interest due to its diverse nature and extensive use in research. This bacterium belongs to the Enterobacteriaceae family and is typically found in the gastro... View more
Published Date : Nov 2023
Global Red Biotechnology Market size is expected to reach US$ 1,513.22 Bn by 2030, from US$ 742.80 Bn in 2023, exhibiting a CAGR of 10.7% during the forecast period. Red biotechnology involves the use of biological agents or organisms in the manufacturing of biopharmaceutical drugs, genetically mod... View more
Published Date : Nov 2023
Flow imaging microscopy analysis is a revolutionary technique that allows for the visualization and analysis of particles in a fluid sample. This technology offers a unique perspective on particle characterization, providing valuable insights for a wide range of appli... View more
Published Date : Nov 2023
Bioengineered skin is designed to undertake the functions of the epidermis and/or dermis as a temporary usage till the patient's skin barrier spontaneously repairs itself naturally. Bioengineered skin is used to address severe scars which represents the result of the ... View more
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