Biopharmaceuticals and Biomedicine Market to Surge at a Robust Pace in Terms of Revenue 2018 – 2026
Launches and approvals of novel biopharmaceutical and biomedicine products is expected to drastically drive growth of global biopharmaceutical and biomedicine market in the near future. In 2017, Sanofi S.A. received U.S. Food and Drug Administration (FDA) approval for Dupixent (dupilumab) injection to treat adults suffering from moderate to severe eczema (atopic dermatitis). In 2017, F. Hoffmann-La Roche AG received FDA approval for Hemlibra (emicizumab-kxwh), indicated to prevent and reduce bleeding incidents among children and adults suffering from haemophilia A with factor VIII inhibitors.
In 2017, Novo Nordisk A/S received the U.S. FDA approval for REBINYN (Coagulation Factor IX (Recombinant), GlycoPEGylated) indicated for treatment and control of bleeding episodes, and perioperative management of bleeding among children and adults. In 2017, Novo Nordisk received U.S. FDA approval for Fiasp (Insulin aspart injection). Fiasp is a fast acting mealtime insulin, which is indicated to improve glycemic control among adults suffering from type 1 and type 2 diabetes. In 2017, Serum Institute of India launched its Rabishield, a rabies monoclonal antibody, developed in partnership with the University of Massachusetts Medical School.
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In 2017, Mundipharma GmbH launched its Truxima (rituximab), a biosimilar monoclonal antibody for the treatment of cancer, in the UK, Germany, Italy, the Netherlands, Belgium, Republic of Ireland, and Luxembourg, following authorization by the European Medicines Agency (EMA). The launches and approvals of such novel biopharmaceutical and biomedicine technologies is expected to create a conducive environment for growth of the global biopharmaceutical and biomedicine market.
For instance, in February 2018, AbbVie Inc. and Voyager Therapeutics, Inc. entered into a strategic partnership for the development and commercialization of gene therapies for Alzheimer’s disease and other neurodegenerative diseases. In February 2018, Kite Pharma, Inc., a Gilead Sciences, Inc. company, collaborated with Sangamo Therapeutics Inc. for developing engineered cell therapies to treat cancer. As per the agreement, Kite Pharma, Inc. will use Sangamo Therapeutics’ zinc finger nuclease (ZFN) gene-editing product type for developing next-generation ex vivo cell therapies for treatment of cancer. In 2017, The National Institutes of Health collaborated with 11 leading biopharmaceutical companies to boost the development of new cancer immunotherapy.
The partners include AbbVie Inc., Amgen Inc., Boehringer Ingelheim Pharma GmbH & Co. KG, Bristol-Myers Squibb, Celgene Corporation, Genentech Inc., subsidiary of Roche Group, Gilead Sciences, Inc., GlaxoSmithKline Plc., Janssen Pharmaceutical Companies of Johnson & Johnson, Novartis A.G., and Pfizer, Inc. In 2017, AbCellera Biologics, Inc. collaborated with GlaxoSmithKline plc. for the discovery of monoclonal antibodies against an undisclosed membrane protein target.
Major players operating in the biopharmaceutical and biomedicine market include Amgen Inc., F. Hoffmann-La Roche AG, Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi S.A., Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol – Myers Squibb, NanoString Technologies, Inc., Qiagen N.V., Celgene Corporation, and Affimed N.V.
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