Continuous Upgradations to bolster the demand for Drugs
The drugs market has evolved over the period of time. Right from over-the-counter drugs to generic drugs, the market has come a long way. An interesting part to note over here is that the developing countries are more into exporting generic drugs all across. This could be attributed to extensive demand from the low-income economies coupled with low overheads with respect to manufacturing of these drugs over here.
Amongst the ongoing trends is that of global biological drugs. Living cells happen to be the primary source of these drugs. The current scenario is such that they are used for treating/prolonging the occurrence of chronic ailments like cancer and blood-related disorders. Based on therapeutic protein, they comprise avonex, lantus, eylea, betaseron, levemir, rebif, Humalog, Enbrel, neulasta, neupogen, victoza, aranesp, and novoLog.
Animal drug compounding implies mixing, combining, or altering the ingredients for coming up with drugs to address the needs of animals. These compounded drugs are in great demand as generic veterinary medicines are not available at the moment. “Oral drug compounding” is generally asked for. Usage on a higher note is observed in companion animals. The US animal drug compounding market is such that as per the US FDA, 75K pharmacies do look after 6,350,000 animal drug compounding prescriptions.
Sterile injectable drugs are also being called for to keep illnesses like cancer in check. In the last few years, there have been rapid approvals from the US FDA in this regard. As such, drug supplies have accelerated and the sterile injectable drugs market is expected to move forward with utmost vigour.
To streamline the research on drugs at large, numerous software vendors are adopting cloud-based drug discovery platforms. Herein, Contract Research Organizations (CROs) hold the largest market share due to ease of comprehension and operation.
A blatant fact is that alcohol and tobacco consumption, in spite of dire consequences, hasn’t ceased. This has increased the demand for alcohol breathalyzer drug testing devices. IR-based breathalyzer is used by and large with higher degree of precision. Alconsensor (based on fuel cells) breathalyzer is expected to grow at the fastest rate in the forecast period going forward due to cost-effectiveness involved.
Coming to complexities, polycystic ovarian syndrome drugs comprise insulin-sensitizing agent, contraceptives, anti-depressants, anti-obesity drugs, and several others. Several biopharmaceutical companies are seen investing on massive grounds in gynaecological disorders like these. Plus, late pregnancies have accelerated the demand for these drugs.
Additionally, flavoured animal drug compounding is being tried out for exotic pets, dogs, cats, and certain zoo animals. For instance – metronidazole’s drug compounding with tuna or sardine-flavored suspension does increase compliance, by making it tastier. Also, the exotic animals like sugar gliders and birds are fed sweet flavors like tutti frutti, banana, or strawberry. This factor is bound to take the US animal drug compounding market by storm in the forecast period.
Persistence Market Research (PMR), through its market study on “Drugs Market”, profiled the key participants as follows:
- Lifeloc Technologies Inc.
- Dragerwerk AG & Co. KGaA
- Lion Laboratories Ltd.
- Andatech Pty. Ltd.
- Quest Products, Inc.
- Alere (Abbott)
- C4 Development Ltd.
- Novartis AG
- Bristol-Myers Squibb Company
- Amgen Inc.
- Baxter International Inc.
- SAS Institute Inc. (for Cloud-based Drug Discovery Platform)
- Accenture PLC (for Cloud-based Drug Discovery Platform)
- TCS Ltd. (for Cloud-based Drug Discovery Platform)
- WuXi AppTec (Sanghai) Co. Ltd. (for Cloud-based Drug Discovery Platform)
- Dassault System (for Cloud-based Drug Discovery Platform)
- Acelot, Inc. (for Cloud-based Drug Discovery Platform)
Persistence Market Research (PMR) has moved further with segregation of the drugs market by region. It has stated that out of North America, Europe, LATAM, MEA, and the Asia-Pacific, North America is the flag bearer with regards to drugs market, which could be attributed to continuous advancements in healthcare sector (pharmaceuticals, in particular). It has also mentioned that Europe is also not behind herein. PMR extends its research to mention that the Asia-Pacific is expected to grow at the fastest pace between 2020 and 2030 in terms of drugs, as it is witnessing maximum turbulence. Regarding developments in treatment of polycystic ovarian syndrome (PCOS), AbbVie is conducting study on Elagolix (ABT-620) as one of the oral gonadotropin-releasing hormone antagonists to treat endometriosis (and PCOS). Since Nov 2019, the University of Illinois is funding clinical research for studying salsalate administration’s effect on ovarian capacity for secreting androgen and also insulin sensitivity regarding PCOS. PMR has not missed out on throwing light herein.
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