Biopharmaceuticals are among the most innovative and sophisticated achievements of modern science. Biopharmaceuticals are recombinant biological entities obtained from biological sources such as cell lines, organs and tissues, microorganisms, animal fluids, or genetically modified cells and organisms. With high complexity in the structure and remarkable properties offering high efficacy and few side effects- it forms the core of pharmaceutical industry. Over the last 8-10 years, the biopharmaceuticals market has grown at a CAGR of ~11% and at present, they represent ~25% share of the overall pharmaceutical market.

The prevalence of cancer, autoimmune, cardiovascular, and infectious diseases is growing across the globe. Biopharmaceuticals have emerged as an important therapeutic class for treatment of such diseases. Biopharmaceuticals have many advantages over synthetic drugs and are capable of targeting specific sites and rarely cause side effects that are often observed with synthetic drugs. Owing to this, demand for biopharmaceuticals such as vaccines, therapeutic proteins, and antibodies is growing day by day. Among all biopharmaceuticals, antibody-based products are likely to witness a significant demand in the coming years. In fact, the antibody-based products currently under the biologic license application (BLA) or equivalent stage of regulatory submission- accounts for ~67% of all biopharmaceuticals. Thus, there is a high demand for cell culture products for the antibody research applications and this demand is likely to be extended to commercial applications as more and more antibody-based products enter commercial stage.

However, focus on maintaining competitiveness by ensuring affordability and quality-pose a critical challenge in front of biopharmaceutical vendors. Despite of challenges, the global cell culture market will grow at a lucrative CAGR of 9.4% to reach $11,180.2 million by 2024, according to Meticulous Research®.

Browse in depth Report: https://www.meticulousresearch.com/product/cell-culture-market/

Tags: Healthcare
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