Advanced generations of drugs developed through biotechnology continue to enter the marketplace.
The results may be very promising for patients, as a technology-driven tipping point of medical care is approaching, where drugs that target specific genes and proteins may eventually become widespread. However, it continues to be difficult and expensive to introduce a new drug in the U.S.
Dozens of exciting new drugs for the treatment of dire diseases such as cancer, AIDS, Parkinson’s and Alzheimer’s are either on the market or are very close to regulatory approval. In a few instances, doctors are now beginning to make treatment decisions based on a patient’s genetic makeup.
Stem cell research is moving ahead briskly on a global basis, and a handful of doctors around the world are now collecting a human patient’s stem cells, cultivating them in a laboratory and reinjecting them into the patient. Many claim dramatic results from this method, in treatment of spine and joint problems, cardiac disease and other conditions. The procedure can cost thousands of dollars and remains experimental. Noted Americans who recently used this procedure include Governor Rick Perry of Texas and New York Yankees baseball team pitcher Bartolo Colon.
Personal genetic codes are becoming less expensive and more widely attainable. Today, the cost of decoding the most important sections of the human genome for an individual patient has dropped dramatically.
Although total drug expenditures are currently small in developing nations such as India, China and Brazil, these markets have tremendous potential over the mid-term. This means that major international drug makers will be expanding their presence in these nations. However, it also means that local drug manufacturers have tremendous incentive to invest in research and marketing. For example, China has made drug research a priority, and Chinese drug research spending grew by 33% yearly from 2007 through 2012
For more data and statistics on the global biotech business, see
Our Biotech & Genetics Industry Almanac 2015 is your key understanding to this growing industry.
Plunkett’s Biotechnology & Genetics Industry Almanac 2015 Edition
Published Date: September 2014