3.1.1 Growth in demand for biologic drugs and advanced therapies is fueled by several factors. Increasing wealth in emerging economies is resulting in greater levels of diseases previously only observed in mature economies — such as heart disease and diabetes — and the ability to afford more advanced treatments. The global population is aging, leading to greater incidence of chronic diseases best treated with biologic drugs. Biologics often offer greater target specificity, efficacy, and safety profiles.[48] The recent focus on rare diseases is contributing to the growth of next-generation biologics, including multispecific antibodies; cell therapies; and gene, gene-modified cell, and gene-editing therapies, which are other important factors leading to market growth.
Nice Insight provides customers with the latest trends in the market, hard-to-find pricing, and analysis of important scientific innovation and challenges. Our research reports help innovators understand the price they'll pay for a contractor and what challenges they should anticipate, and allow CDMOs to evaluate their position in the market.Nice Insight provides customers with the latest trends in the market, hard-to-find pricing, and analysis of important scientific innovation and challenges. Our research reports help innovators understand the price they'll pay for a contractor and what challenges they should anticipate, and allow CDMOs to evaluate their position in the market.
3.2.1 Although projections differ by source, there continues to be consensus that the biopharmaceutical market will experience robust annual growth over the near future at rates higher than projected for the pharmaceutical industry as a whole. As a consequence, biopharmaceuticals will continue to claim a greater share of the overall prescription drug market.
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3.3.1 There are now 38 cell and gene therapies approved by the FDA.[2] Since 2021, the FDA has approved an average of five therapies per year, and appear well on their way to the goal of approving an average of 10–20 therapies per year, beginning in 2025.[2]
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3.4.1 In the United States, a “rare disease” is defined as a disease that affects fewer than 200,000 people.[59] According to the National Institutes of Health (NIH), over 30 million Americans have one of the nearly 7,000 rare diseases that have been identified to date.[59] Of the rare diseases that are caused by genetic mutations, more than 95% have no approved therapeutic option.[60] Start-ups and established biopharmaceutical companies alike are developing potential gene therapies to address this key unmet medical need.
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