Personalized medicine
Personalized medicine for disease treatment and prevention takes into account individual variability in genes , environment , and lifestyle for each person . The personalized medicine market was estimated to be worth about $ 493 billion in 2020 with an expected compound annual growth rate of 6.2 % from 2021 to 2028 . Much of the industry ' s growth can be attributed to growing interest in identifying biomarkers for use in therapy and diagnosis of chronic illnesses . Cell and gene therapies are also capturing significant interest , with companies in the space attracting more than $ 23 billion globally last year , a 16 % year-over-year increase . Market Analysts have observed growing demand for treatments for other chronic diseases such as various types of cancer , age-related macular degeneration , almost all types of arthritis , and diabetes .
Bioprinting and tissue engineering
Bioprinting uses bio-inks developed from biomaterials . Biotech firms use cells like substrates that grow around a scaffold , enabling bone , skin or vascular grafts to develop from the patient ' s own cells . Another exciting emergence in the biotech innovation sector is 3-D bioprinting . 3-D printing was one of the major achievements in the 2010s . And the next stage is no less revolutionary . By using living cells , this technology can create various human body parts such as heart valves , skin , and cartilage for use in medicine . The ability to print human organs will also have applications in medical research and training , as a way to provide accurate samples for study and analysis . A related area is tissue engineering , an area that has grown sharply over the last few years due to advances in bioprinting . These
tissue grafts can also be used in transplanting organs and regenerative medicine .
Orphan drugs
Another biotech trend for 2023 is the growth of orphan drugs that are used for diagnosing , preventing and treating life-threatening diseases or disorders that are rare . These rare occurring diseases are called orphan disease . However , there is no standard definition for an orphan disease . Definition of Orphan disease as per the World Health Organisation ( WHO ) is a frequency of occurrence of less than 6.5 – 10 in 10,000 . As per the European , Community definition is less than 5 in 10,000 . As per reports , such drug sales will account for 20 % of all prescription drug sales and nearly one-third of the value of the global drug pipeline by 2026 . Each of the top 10 orphan drugs are expected to be worth between $ 3 billion and $ 13 billion in 2026 , making them larger than more popular mass-market drugs . More than 50 % of the approvals handed out by the Food and Drug Administration last year were for orphan drugs that treat rare diseases .
Drug discovery platforms
Many biotech firms have developed platform technology that cuts down the discovery time dramatically . They use drug platforms to discover and develop new medications using similar technology . By building on a platform they have used before , drugmakers already have an idea about the safety profile of any new medications they develop on that same platform . They also know what else to expect when building on that same platform , like potentially which diseases could be treated using that particular platform . Thus , the drug discovery process accelerates because the biotech firm isn ' t starting from scratch each
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BioVoiceNews | February 2023