High mortality rates associated with acute diabetes and cancers such as lung, cervical and breast, is promoting heightened R&D to develop breakthrough treatment approaches, thereby fueling market expansion prospects
High mortality rates associated with acute diabetes and cancers such as lung, cervical and breast, is promoting heightened R&D to develop breakthrough treatment approaches, thereby fueling market expansion prospects
Fact.MR, Rockville MD: Award winning market research company Fact.MR is currently pursuing a study on the global subcutaneous biologics market. Growth prospects for 2021 and beyond appear significant, with healthcare providers resuming R&D projects which has suffered a setback amidst the coronavirus pandemic crisis.
As per Fact.MR’s analysis, the subcutaneous biologics market stands to gain the maximum from cancer and diabetes drugs development. While the International Diabetes Federation estimates that the number of diabetics shall increase to 578 million people by 2030 from the existing 463 million, the number of cancer patients are likely to rise by over 80% across low-income countries; and 40% in high-income countries (WHO).
Consequently, government entities are fast tracking drug candidate approvals so as to offset this increasing burden. In June 2020, for instance, the US Food & Drug Administration approved Genentech Inc.’s Phesgo (pertuzumab, trastuzumab and hyaluronidase- zzxf) for injection under the skin to treat adult patients with HER-2 positive breast cancer. Likewise, in March 2020, Celltrion announced the launch of its subcutaneous Remsima (infliximab) formulation, which is the only subcutaneous formulation of the Remicade biosimilar for treating rheumatoid arthritis patients.
“Key pharmaceutical corporations are effectively leveraging institutional partnerships and government support to enhance availability of high-grade subcutaneous biologics, given the exponentially increasing prevalence rates of debilitating chronic conditions, providing immense scope for future expansion,” says the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Subcutaneous Biologics Market Study
- Subcutaneous biologic drug development for cancers is expected to acquire massive momentum
- By delivery system, pen injectors are likely to become the preferred administration route
- Rising popularity of home diagnostics compelling high subcutaneous biologics sales through retail pharmacies
- Increasing cancer and diabetes incidence stimulating subcutaneous biologics development across the US
- UK to experience high growth amid increasing research funding for psoriasis treatment
- Conducive government policies to promote biologics and biosimilars development to heighten Germany and France’s growth prospects
- India and China to collectively cement their dominance across the Asian market
Subcutaneous Biologics Market- Prominent Drivers
- Expanding geriatric population pool and subsequent increase in chronic ailments prevalence to drive future subcutaneous biologics sales
- Key manufacturers are targeting the Asia-Pacific region for future growth, attributed to an exponential population surge
- Increased research & development funding along with favorable government policies are accelerating subcutaneous biologics research
Subcutaneous Biologics Market- Key Restraints
- Documented allergic reactions post-biologics consumption is likely to hinder uptake across key regions
- Prolonged waiting durations with respect to regulatory approvals is expected to slow subcutaneous biologics adoption
Discover more about the subcutaneous biologics market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/5283/subcutaneous-biologics-market
Competitive Landscape
Prominent subcutaneous biologics market players profiled by Fact.MR include Abbott Laboratories, Pfizer Inc., Genentech Inc., Novartis AG, Biogen Idec, AbbVie Inc, F. Hoffmann-La Roche AG, Genmab A/S, Bristol-Myers Squibb, Eisai Inc., Takeda Pharmaceuticals Ltd., Alnylam Pharmaceuticals, Bayer AG, GlaxoSmithKline, Sanofi SA and Boston Pharmaceuticals among others.
The aforementioned market players rely on regulatory approvals of their product lines in order to enhance their penetration into the market. In March 2021, Genentech’s Actemra became the first biologic therapy approved by the US FDA for slowing the rate of decline in pulmonary function in adults suffering from systemic sclerosis-associated interstitial lung disease.
Likewise, in August 2020, the FDA approved Genmab A/S’s Kesimpta® (ofatumumab) injection for subcutaneous use to treat relapsing forms of multiple sclerosis (RMS) in adults, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease. Kesimpta is the first B-cell therapy which is suitable for self-administration.
More Insights on the Subcutaneous Biologics Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global subcutaneous biologics market, presenting historical demand data (2016-2020) and forecast statistics for the period, 2021-2031. The study divulges compelling insights on the market based on indication (cancer, Crohn’s disease, cardiovascular disorders, diabetes, multiple sclerosis, psoriasis, rheumatoid arthritis, metabolic disorders, growth hormone deficiency and others), delivery system (syringe, wearable injector, automatic injector, implants, pen injectors and others) and distribution channel (hospital pharmacies, retail pharmacies, online pharmacies and drug stores) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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Source: Fact.MR