The subcutaneous biologics market is expanding due to advancements in cancer and diabetes treatments, with significant growth expected in the US and Asia.
Award winning market research company Fact.MR is currently pursuing a study on the global subcutaneous biologics market. Growth prospects for 2021 and beyond appear significant, with healthcare providers resuming R&D projects which has suffered a setback amidst the coronavirus pandemic crisis.
As per Fact.MR’s analysis, the subcutaneous biologics market stands to gain the maximum from cancer and diabetes drugs development. While the International Diabetes Federation estimates that the number of diabetics shall increase to 578 million people by 2030 from the existing 463 million, the number of cancer patients are likely to rise by over 80% across low-income countries; and 40% in high-income countries (WHO).
Consequently, government entities are fast tracking drug candidate approvals so as to offset this increasing burden. In June 2020, for instance, the US Food & Drug Administration approved Genentech Inc.’s Phesgo (pertuzumab, trastuzumab and hyaluronidase- zzxf) for injection under the skin to treat adult patients with HER-2 positive breast cancer. Likewise, in March 2020, Celltrion announced the launch of its subcutaneous Remsima (infliximab) formulation, which is the only subcutaneous formulation of the Remicade biosimilar for treating rheumatoid arthritis patients.
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The global subcutaneous biologics market is classified based indication, delivery system, distribution channel and region.
Based on the indication, the subcutaneous biologics market is segmented into the following:
Based on the delivery system, the subcutaneous biologics market is segmented into the following:
Based on the distribution channel, the subcutaneous biologics market is segmented into the following:
Subcutaneous Biologics Market- Prominent Drivers
Subcutaneous Biologics Market- Key Restraints
Discover more about the subcutaneous biologics market on – https://www.factmr.com/report/5283/subcutaneous-biologics-market
Key Takeaways from Fact.MR’s Subcutaneous Biologics Market Study
Competitive Landscape
Prominent subcutaneous biologics market players profiled by Fact.MR include Abbott Laboratories, Pfizer Inc., Genentech Inc., Novartis AG, Biogen Idec, AbbVie Inc, F. Hoffmann-La Roche AG, Genmab A/S, Bristol-Myers Squibb, Eisai Inc., Takeda Pharmaceuticals Ltd., Alnylam Pharmaceuticals, Bayer AG, GlaxoSmithKline, Sanofi SA and Boston Pharmaceuticals among others.
The aforementioned market players rely on regulatory approvals of their product lines in order to enhance their penetration into the market. In March 2021, Genentech’s Actemra became the first biologic therapy approved by the US FDA for slowing the rate of decline in pulmonary function in adults suffering from systemic sclerosis-associated interstitial lung disease.
Likewise, in August 2020, the FDA approved Genmab A/S’s Kesimpta® (ofatumumab) injection for subcutaneous use to treat relapsing forms of multiple sclerosis (RMS) in adults, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease. Kesimpta is the first B-cell therapy which is suitable for self-administration.
More Insights on the Subcutaneous Biologics Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global subcutaneous biologics market, presenting historical demand data (2016-2020) and forecast statistics for the period, 2021-2031. The study divulges compelling insights on the market based on indication (cancer, Crohn’s disease, cardiovascular disorders, diabetes, multiple sclerosis, psoriasis, rheumatoid arthritis, metabolic disorders, growth hormone deficiency and others), delivery system (syringe, wearable injector, automatic injector, implants, pen injectors and others) and distribution channel (hospital pharmacies, retail pharmacies, online pharmacies and drug stores) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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The post Subcutaneous Biologics Market Growth Spurred by Accelerating Cancer and Diabetes Treatment Initiatives: Fact.MR appeared first on Latest Market Reports.
The article discusses the growth of the subcutaneous biologics market, particularly in cancer and diabetes treatments.
The market is growing due to increased R&D in cancer and diabetes treatments and favorable government policies.
The US, UK, and Asian countries like India and China are experiencing significant growth in the subcutaneous biologics market.
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