Ottawa, December 16, 2020 (Global News)-In 2019, the global red biotechnology market has exceeded US$320.76 billion and is expected to reach US$510 billion by 2027, with a compound annual growth rate (CAGR) of approximately 20%. From 2020 to 2027, it is 6.13%.
Red biotechnology is a department of biotechnology that studies human health and treatment methods by improving drugs (such as antibiotics). Scientists involved in this technology conduct experiments by controlling genes through germline engineering during the embryonic stage, and perform gene therapy on adult patients. It mainly focuses on the pharmaceutical field. At present, red biotechnology has become a broad field of scientific research, involving medical implants and drugs, genetic engineering, and the cultivation of organs, cells and tissues to treat and study various improvements for specific diseases or injuries. Red biotechnology involves regenerative therapy, the production of antibiotics and vaccines, molecular diagnostic technology, the manufacture of new drugs, and the improvement of genetic engineering to treat diseases through genetic manipulation.
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Red biotechnology has been applied in the fields of Parkinson’s disease treatment and cancer research. This technology helps realize the mutation and amplification of the gene that causes this Parkinson’s disease. In the field of cancer research, red biotechnology helps to discover the efficacy of anticancer drugs for specific patients, because the efficacy of such drugs depends on the genetic configuration of the person targeted by the drug.
Further red technology can help develop and produce drugs that suit the exact genetic needs of specific patients. The prospects for the development and research of red biotechnology in the medical field are very wonderful. This technology will help the pharmaceutical industry develop and develop higher-quality drugs, while also helping to improve human living standards.
It is foreseeable that in the next few years, the incidence of rare and chronic diseases will continue to increase worldwide to promote the growth of the red biotechnology market. The growing number of patients is expected to stimulate the sales of new drug molecules for effective disease treatment. As a result, the increased demand for diagnosis and treatment for rapid and effective disease management, coupled with the increase in the incidence and prevalence of chronic and rare diseases, is expected to support the growth of the red biotechnology market in the near future.
North America is expected to dominate the global red biotechnology market in the near future. The main reasons supporting this advantage include new product approvals, an increase in the burden of disease, and increasing research and development activities in the region. It is expected that in the next few years, the Asia-Pacific region will provide profitable prospects for companies operating in the red biotechnology market. According to data from the American Cancer Society, between 2018 and 2019, the United States recorded approximately 1,735,350 new cancer cases and 609,640 cancer deaths.
It is proposed that from 2019 to 2027, the compound annual growth rate of the red biotechnology market in the Asia-Pacific region will exceed 6%. The number of CROs and CMOs continues to increase, regional governing bodies have increased product approvals, and investment by giant biopharmaceutical companies operating in red is also increasing. The region’s biotechnology market is some of the main factors driving market growth in the Asia-Pacific region. For example, Gilead obtained Epclusa approval from the Ministry of Health, Labour and Welfare (MHLW) of Japan in January 2019. The drug is used to inhibit the persistence of HCV infection and viremia in patients with compensated liver cirrhosis.
Many manufacturers involved in the field of red biotechnology are gradually focusing on expanding geographical areas through tactical acquisitions, partnerships, mergers and launching new products in different countries and regions. This helps them consolidate their position in the global red biotechnology market. For example, Gilead Sciences obtained approval from the China National Medical Products Administration in December 2018. Few well-known companies make full use of capital in acquisitions and mergers to unify their global market footprint. Several participants operating in this market are AstraZeneca PLC, CSL Limited. F. Celgene, Pfizer, Takeda Pharmaceutical Co., Biogen Inc, Hoffman La Roche Co., Ltd., Amgen, Gilead Sciences, and Merck.
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Post time: Oct-17-2020