London, Aug. 18, 2020 (GLOBE NEWSWIRE) -- As per The Business Research Company’s latest report on the global pharmaceuticals market, companies in the biologics market are investing in technologies to develop next generation biologics such as ADCs, biospecifics, fusion proteins, cell and gene therapy that will be more effective. These next generation biologics are expected to have better potency against the target disease as well as have the ability to treat more than one aspect of the disease.
They are being manufactured with the help of technology, along with drug delivery systems. Some of the next generation biologics brands include Kadcyla, Tresiba, Alprolix, Adcetris, Eloctate, Plegridy, and Afrezza. Pharmaceuticals companies such as Roche, Bristol-Myers Squibb and Novartis are investing heavily in the development of next generation biologics to increase revenue and market share.
Major players in the pharmaceutical industry are also focusing on the development of antibody drug conjugates to manufacture medicines for cancer treatment. Antibody drug conjugates (ADCs) are being used to treat diseases such as inflammatory, oncology and respiratory diseases. ADCs are also being used in cancer treatment by attaching them to cancer-killing drugs that kill cancerous cells, leaving healthy tissues unaffected.
The scope of the pharmaceuticals market growth seems to be very high as the technology giant Samsung, through its subsidiary Samsung BioLogics Co., has invested around $740 million for the production of next-gen biologics.
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The Business Research Company’s report titled Pharmaceuticals Global Market Report 2020-30: COVID-19 Impact And Recovery covers major pharmaceuticals companies, pharmaceuticals market share by company, pharmaceuticals manufacturers, pharmaceuticals market size, pharmaceutical market restraints and drivers, top pharma industry predictions for 2020, key pharma industry trends, PESTEL analysis for the pharmaceuticals market, pharma industry growth potential, and growing pharmaceuticals market expert forecasts and analysis. The report also covers the global pharmaceuticals market and its segments.
The pharmaceuticals market is segmented by type into pharmaceutical drugs and biologics. The pharmaceutical drugs market is further segmented into cardiovascular drugs, dermatology drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs, anti-infective drugs, metabolic disorder drugs, musculoskeletal disorder drugs, central nervous system drugs, oncology drugs, ophthalmology drugs, and respiratory diseases drugs. The biologics market is further segmented into monoclonal antibodies (MAbS), therapeutic proteins and vaccines.
The biologics market, which is expected to be the fastest growing segment of the global pharmaceutical market, is expected to reach a value of more than $1.2 trillion by 2030 growing at a compound annual growth rate of above 15%.
Pharmaceuticals Global Market Report 2020-30: COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
An exclusive part of the report covers the impact of COVID-19 on the global pharmaceuticals market 2020. The pharmaceutical industry has been significantly affected by the coronavirus pandemic. As global economies are struggling to recover amidst nationwide lockdowns and closure of non-essential businesses, the huge pharma industry is also suffering setbacks due to disruption in supply chains and the need to change business processes. Supply chains in the pharmaceutical industry are becoming more patient-centric with different end points of delivery and information, due to the increased adoption of digital tools, telehealth, and app-based ecosystems.
COVID-19 has created the need for tests and trials of drugs that can cure the virus, which has led to increased production and manufacturing capacities in the pharmaceuticals market. High government funding for the medical and pharmaceutical industry is boosting the market’s growth during the crisis. Besides increased funding, governing authorities have also relaxed their policies to encourage the production of certain medicines.
Organizations such as the US Food and Drug Administration (FDA) have announced a set of legislation in association with OTC drugs. The law grants new and broader authorities in reviewing and approving of monograph drugs such as acetaminophen. Over-the-counter (OTC) medicines are witnessing unprecedented demand amid the coronavirus pandemic, owing to government-imposed restrictions on visitations to hospitals and health professionals. While long-term medications for different ailments such as diabetes and blood pressure continue generating revenue in the pharmaceutical market, it is OTC painkillers that are witnessing an unusual spike in demand.
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