LONDON--(EON: Enhanced Online News)--Technavio analysts forecast the global next-generation biologics market to grow at a CAGR of more than 14% during the forecast period, according to their latest report.
“The development of innovative insulin products and advances in insulin delivery technology have increased the life expectancy of individuals with diabetes. Automated injection devices such as insulin pumps and pens offer a safe and easy drug delivery option, thus increasing their demand in the market”
The research study covers the present scenario and growth prospects of the global next-generation biologics market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of next-generation biologics.
|The global next-generation biologics market is expected to grow at a rapid pace during the forecast period due to the growing acceptance from physicians as well as individuals combined with the recent launches of novel monoclonal antibodies (mAbs). The increasing use of next-generation mAbs in treating diseases will have a positive impact on the market. The understanding of the disease at the molecular level increases the development and use of these drugs for difficult to diagnose diseases such as cancer and autoimmune diseases. They have a high affinity toward specific disease cells and areas that need treatment.|
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Technavio healthcare and life sciences research analysts highlight the following three factors that are contributing to the growth of the global next-generation biologics market:
- Increase in demand for ADCs
- Advanced technological innovations
- Reimbursement support for next-generation biologics
Increase in demand for ADCs
Antibodies are increasingly becoming the preferred choice to treat diseases such as respiratory, oncology, and inflammatory diseases. Understanding diseases at a molecular level increases the development and use of antibodies. The use of ADCs, including radioimmunotherapy and antibody-directed enzyme prodrug therapy, is growing.
Sapna Jha, a lead cardiovascular and metabolic disorders research analyst at Technavio, says, “The increasing use of these antibodies in drug development increases revenue generation in the global next-generation biologics market, thereby contributing to market growth. ADCETRIS is a chimeric monoclonal immunoglobulin G1 antibody, which acts against CD30 expressed in HL and systemic anaplastic large cell lymphoma.”
Advanced technological innovations
Advancements in biological sciences have shown a positive influence on the global next-generation biologics market. There are novel technological advancements in terms of drug manufacture, development, and delivery. Also, the future landscape of the market is expected to be promising as there are novel products in the pipeline that are expected to revolutionize the market globally.
“The development of innovative insulin products and advances in insulin delivery technology have increased the life expectancy of individuals with diabetes. Automated injection devices such as insulin pumps and pens offer a safe and easy drug delivery option, thus increasing their demand in the market,” adds Sapna.
Reimbursement support for next-generation biologics
Biologic therapeutics are expensive and cannot be afforded by all; however, reimbursement of next-generation biologics is expected to fuel the market during the forecast period. Plans such as public reimbursement programs reduce the financial burden of treatments. The increasing demand for high cost drugs are important reasons for them to be included in reimbursement plans.
Funding can help various vendors and research institutes to build development in next-generation biologics with new discoveries, which boosts the global next-generation biologics market enormously. Research and clinical trials of biologicals are quite costly, which many research institutes and small companies cannot afford. To help their innovative idea, the respective governmental organizations provide funding worldwide.
- F. Hoffmann-La Roche
- Novo Nordisk
- Takeda Pharmaceuticals
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