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The Global Biopharmaceuticals Market is Growing, but Cannot Seem to Combat High Prices Issue

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Published on : Jan 21, 2016

The global biopharmaceuticals market is doing rather well. Projected at a CAGR of 9.4% between 2014 and 2020, this market might even cross US$278 bn before 2020 ends. There are a lot of reason for this market to grow, but one major reason that keeps it from becoming the next big thing. This reason is costs; the global biopharmaceuticals market is consistently marred by expensive listings and ingredients. And this makes it all the more easier for bio-similars to run rampant in the pharmaceutical industry, due to their low costs.

Biopharmaceuticals are used to cure and even prevent diseases that conventional medicine finds unconquerable. This includes a list of “modern day illnesses” including diabetes, cancer, multiple obesity-related diseases, heart diseases, and other diseases that the elderly face. There are two things that need to be considered in the global biopharmaceuticals market. The first is the high level of preference for monoclonal treatments, and the second is the high level of progress in this field made in North America. Both factors imply a higher rate of use of monoclonal antibodies in the U.S. and Canada. This is created by the early initiation of the relevant infrastructure in the U.S.

In terms of monoclonal antibodies, take the example of a recent study conducted by researchers regarding their purification. Scientists have succeeded in shortening the time taken to purify monoclonal antibodies, something which previously was a difficult and time-consuming process. It is this large amount of effort taken to generate biopharmaceuticals that keeps their prices out of reach of those with low reimbursement schemes working in their favor.

In the research, the scientists found a way to make the protein A affinity chromatography process take less time. It was found that purified antibodies show a high affinity to impurities and contaminants, making it difficult to keep the purified proteins in that form. The scientists were able to bind the purified antibodies with another chemical which kept major impurities at bay. It is research like this that creates strides in the global biopharmaceuticals market and allows it to persist in the pharmaceuticals industry.

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