Research for novel cancer therapeutics pool in massive investments in red biotechnology market
Player leverage AI to extract potential of red biotechnology in preserving health and controlling diseases
ALBANY, New York, March 18, 2020 /PRNewswire/ -- A wide assortment of applications of genetic engineering technology, vaccine research, and biologics have helped expand the potential of the red biotechnology market, which was worth US$314.2 billion in 2018. Growing application of biotechnology in medicine has unlocked promising prospects particularly in chronic and rare diseases treatment.
Transparency Market Research
Future Outlook
Emerging applications of gene therapy, pharmacogenomics, and genetic testing in the preservation of health, notably in oncology, are shaping the future growth trajectories in the red biotechnology market. By 2027-end, the revenues are projected to reach US$512 bn, clocking CAGR of ~6% from 2019 to 2027. In developing countries, many new collaborations are likely to be forged, defining future initiatives on cloud-based technology and AI.
Analysts' Viewpoint
"Staying abreast with standardized regulations and regulatory norms will enable biotechnology and pharmaceutical companies to chart new growth avenues in the red biotechnology market," note the analysts. Marked prevalence of cancer world over expands scope for market stakeholders, they further opine.
Key Takeaways of Red Biotechnology Market Study
Explore 176 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Red Biotechnology Market (Application: Biopharmaceutical Production, Gene Therapy, Pharmacogenomics, and Genetic Testing; End User: Biopharmaceutical Industry, CMOs & CROs, Research Institutes, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/2063
Red Biotechnology Market: Key Driving Factors and Promising Avenues
A few striking trends in investments in healthcare sector shape the evolution of the red biotechnology market. Growing number of clinical trials in cancer research and incessant efforts of biotechnology players to find therapies for rare diseases are boosting the pace of new drug approvals. A few statistics support research and developments in aforementioned realms.
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Red Biotechnology Market: Regional Outlook
Among the various regional markets, North America leads the pack, and is expected to retain its dominance throughout the assessment period. Spate of investments in clinical trials for chronic and rare diseases and massive investments in developing cancer drug pipeline have helped the North America red biotechnology market to reach dominant position. Stakeholders are harnessing artificial intelligence will continue new prospects in the regional market. Prominently, relentless efforts of biopharmaceutical players in the U.S. test new drugs and vaccines form crucial trend in the growth of this regional market.
On the other hand, a growing numbers of players have shifted their attention to Asian economies to tap into the vast latent potential in personalized healthcare. The region will see new strategic collaborations among healthcare companies and biopharmaceutical players.
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Red Biotechnology Market Competition Landscape
Growing demand for biologics and biosimilars in developing economies has been crucial to the expansion of red biotechnology prospects, globally. Most notably, Asia Pacific has been the key focus for players to gain competitive edge over their peers and rivals.
Biopharmaceutical players have begun inking new partnership deals and distribution agreements in the region, particularly in on oncology therapeutics and development. Focus on novel therapeutics and disease pathways for bettering human health has been one of the key winning imperatives for companies in the red biotechnology market. To consolidate their positions, top players are aiming to expedite product approvals for rare and chronic diseases, and have increased their stakes in advanced stages of clinical trials.
A handful of big pharmaceutical and biotech players, and multinational healthcare companies jointly contribute half of the global revenues. These include Pfizer Inc., Gilead Sciences Inc., Amgen Inc., and F. Hoffmann-La Roche.
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The red biotechnology market is segmented on the basis of application, end user, and region.
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Bioinformatics Market- The global bioinformatics market is projected to grow at a significant CAGR during the forecast period and is likely to touch a valuation of US$9.1 bn by 2018.
Gene Therapy Market -Expanding at a stellar, double-digits CAGR (Compound Annual Growth Rate) of 40% over the forecast period of 2018 to 2026, the global gene therapy market is a dizzying trajectory, marking out a rosy landscape for players operating in the playfield. As per a Transparency Market Research report, based on extensive primary and secondary research, states that over the period states, the market would accrue a worth of USD 5164.03 million a steep and impressive increase from the USD 17 million worth noted in 2017.
Biosimilars Market- Advancements in oncology settings are improving patient quality of life. Due to effective biosimilars, healthcare providers are able to receive better outcomes in several cancer patients who can opt for convenient treatments such as a painless injections rather than receiving a lengthy chemotherapy session. Patent expiry of biologic drugs for the treatment of cancer are creating a scope for incremental opportunities. As such, oncology indication segment of the biosimilars market is estimated to reach a value of~US$ 21.1 Bnby the end of2027.
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Here is the original post:
Exploring Avenues in Personalized Medical Care Defines Advances in Red Biotechnology Market: Valuation to Touch Massive US$512 Bn By 2027, Finds...
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- Combatting HIV using gene therapy - Drug Target Review - February 27th, 2024
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- New sickle cell therapy uses gene editing at MUSC | Health | postandcourier.com - The Post and Courier - February 27th, 2024
- Long-term and real-world safety and efficacy of retroviral gene therapy for adenosine deaminase deficiency - Nature.com - February 18th, 2024
- Gene therapy, blood transfusions, stool monitoring: The Sydneysiders trying to escape death - Sydney Morning Herald - February 18th, 2024
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- Direct Administration of CRISPR-Cas9: Tools for Cell and Gene Therapy - Forbes - February 18th, 2024
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- Gene Therapy: A Ray of Hope for Heart Failure Treatment | Health News - Medriva - February 18th, 2024
- Gene therapy trials restore hearing to children born deaf - The Hill - February 2nd, 2024
- Early Trial Success for Inherited Deafness Gene-Therapy - RegMedNet - February 2nd, 2024
- Sickle cell gene therapy first focus of Medicaid pay model - Modern Healthcare - February 2nd, 2024
- Beyond chemotherapy: Navigating the promise and perils of CAR-T therapy in pediatric cancer - BioPharma-Reporter.com - February 2nd, 2024
- Angiodema: Gene therapy blocks painful hereditary disorder - BBC - February 2nd, 2024
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- CRISPR tech treats severe hereditary condition successfully - Interesting Engineering - February 2nd, 2024
- Gene Therapy Restores Hearing in Small Trial for Kids With Hereditary Deafness - Technology Networks - February 2nd, 2024
- Gene-based therapy may slow development of life-threatening heart condition - Medical Xpress - February 2nd, 2024
- Jaguar Gene Therapy Announces FDA Clearance of IND to Study JAG201 in a Genetic Form of Autism Spectrum ... - Business Wire - February 2nd, 2024
- Replacing the PKP2 gene prolongs survival in ARVC patients - Drug Target Review - February 2nd, 2024
- Cell and gene therapies top pharmaceutical industry trend to watch for 2024 - Pharmaceutical Technology - February 2nd, 2024
- Gene Therapy Restores Hearing in Children with Hereditary Deafness - The Hearing Review - February 2nd, 2024
- 2 Dutch among 10 "functionally cured" of hereditary swelling disease by new gene therapy - NL Times - February 2nd, 2024
- FDA publishes final industry guidance for CAR-T and gene therapies - PMLiVE - February 2nd, 2024
- Gene therapy cures hereditary deafness in two people - Advanced Science News - February 2nd, 2024
- Hearing Restored in Deaf Children in Gene Therapy Clinical Trial - Securities.io - February 2nd, 2024
- Vivet Therapeutics Receive 4.9 Million to Advance Development of Gene Therapy - European Pharmaceutical Manufacturer - February 2nd, 2024
- Adverum Biotechnologies will Host Webcast to Review LUNA Phase 2 Preliminary Efficacy and Safety Results on ... - GlobeNewswire - February 2nd, 2024
- Allogene parks Notch CARs, leaving one on the road - FierceBiotech - February 2nd, 2024
- Experimental gene therapy allows kids with inherited deafness to hear - The Associated Press - January 25th, 2024
- Gene-therapy breakthrough allows congenitally deaf children to hear Harvard Gazette - Harvard Gazette - January 25th, 2024
- Gene therapies restore hearing in several kids with inherited deafness - Livescience.com - January 25th, 2024
- Boy born deaf can hear for the first time thanks to a gene therapy procedure - NBC 6 South Florida - January 25th, 2024
- Gene therapy restores hearing in children with hereditary deafness - Medical Xpress - January 25th, 2024
- Children's Hospital of Philadelphia Performs First in U.S. Gene Therapy Procedure to Treat Genetic Hearing Loss - PR Newswire - January 25th, 2024
- Children's Hospital of Philadelphia uses gene therapy to help 11-year-old boy hear for 1st time - WPVI-TV - January 25th, 2024
- Breakthrough gene therapy treatment restores hearing in children born deaf - The Independent - January 25th, 2024
- Gene Therapy Administered Via Virus Cures Deafness in 11-Year-Old Boy - Futurism - January 25th, 2024
- 11-Year-Old Boy Hears For First Time Ever Thanks To Gene Therapy Breakthrough - IFLScience - January 25th, 2024
- Gene Therapy Deafness | National | caledonianrecord.com - The Caledonian-Record - January 25th, 2024
- Sickle cell gene therapy to be covered by Blue Cross insurers - Modern Healthcare - January 25th, 2024
- Experimental gene therapy allows kids with inherited deafness to hear - Jackson Hole News&Guide - January 25th, 2024
- Gene therapy allows 11-year-old boy to hear for the first time - Latest From ITV News - ITVX - January 25th, 2024
- Experimental Gene Therapy Allows Kids With Inherited Deafness To Hear - Southern Minnesota News - January 25th, 2024
- Joint US-China gene therapy trials restore hearing in 5 kids, a first - Interesting Engineering - January 25th, 2024
- Gene Therapy Deafness | Nation | The Daily News - Galveston County Daily News - January 25th, 2024
- In Draft Guidance for Cell and Gene Therapy Industry, FDA Broadens its Approach to Product Potency - Precision Medicine Online - January 25th, 2024
- Gene therapy helps restore hearing in children with hereditary deafness - Shropshire Star - January 25th, 2024
- Gene therapy breakthrough enables deaf boy to hear for the first time - The Week - January 25th, 2024
- FDA eyes collaborative review pilot for gene therapies - Regulatory Focus - January 17th, 2024