The global biologics market is estimated to grow at a CAGR of 8.6% during the forecast period. Increasing approvals of biologics drugs are offering a significant opportunity for market growth. In June 2020, EMD Serono, and Pfizer Inc. declared the approval of the US FDA supplemental Biologics License Application for BAVENCIO (avelumab). The drug is approved for the maintenance treatment of patients suffering from metastatic or locally advanced urothelial carcinoma that has not progressed with first-line platinum-containing chemotherapy. It is the first immunotherapy that has shown a statistically potential improvement in the whole survival in the first-line setting in urothelial carcinoma. Therefore, the approval of avelumab by the US FDA is one of the potential advances for the treatment of metastatic or locally advanced urothelial carcinoma in 30 years.
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Further, in October 2020, Cadila Pharmaceuticals revealed two similar biologics in the Indian market. This includes NuPTH, a teriparatide similar biologic, and Cadalimab, a similar biologic of the auto-immune treatment adalimumab. Cadila revealed four new products in India since July 2020. In August 2020, Cadila has also declared the introduction of a further similar biologic in India. The drug is sold as NuPTH, which is a similar biologic of teriparatide. This drug is a form of parathyroid hormone that is aimed for the treatment of osteoporosis by promoting bone formation. It can also be utilized in other patient groups with an enhanced risk of fracture.
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Global Biologics Market-Segmentation
By Product
- Antibody Therapeutics
- Vaccines
- Cell Therapy
- Gene Therapy
- Others
By Application
- Cancer
- Autoimmune Diseases
- Infectious Diseases
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
