Medical Biotechnology Statistics 2024 By Growth, Advancements, Gene Editing

Medical Biotechnology Statistics: Medical Biotechnology refers to the application of biological processes, techniques, and organisms to develop products and technologies for diagnosing, preventing, and treating diseases.

It involves the use of living systems and their components to produce pharmaceutical drugs, vaccines, diagnostic tests, and other medical products.

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• The global biopharmaceuticals market size is expected to be worth around USD 566 billion by 2032 from USD 263 billion in 2022, growing at a CAGR of 8.2% during the forecast period from 2022 to 2032.
• The overall success rate for phase I trials is around 16%, while for phase II trials it is around 10%. Phase III trials, which involve larger patient populations, have a success rate of around 25%.
• The average cost of bringing a new drug to market is projected to be around USD 2.6 billion.
• The National Genome Institute estimates that the cost of sequencing a human genome has fallen from around USD 100 million in 2001 to less than USD 1,000 in recent years.
•  In 2020, WIPO received over 23,500 biotechnology-related patent applications, demonstrating the growing innovation and research in the field.
• The US biotechnology industry employed over 2.1 million people in 2020, including direct and indirect jobs.

(Source: Journal of Clinical Oncology, Journal of Health Economics, World Intellectual Property Organization, Biotechnology Innovation Organization)

Medical Biotechnology Statistics – Growth & Dominance of Biopharmaceuticals

Pharmaceutical biotechnology focuses on the development of therapeutic drugs using biological sources and techniques. It includes the production of recombinant proteins, monoclonal antibodies, vaccines, and gene therapies.

• According to EvaluatePharma’s report, the global biopharmaceutical market was valued at $330 billion in 2020 and is projected to reach $526 billion by 2026 at an expected compound annual growth rate (CAGR) of 8.2% during this forecast period.
• Data from the U.S. Food and Drug Administration (FDA) indicates that biologics accounted for over 25% of new drug approvals, surpassing traditional small-molecule drugs as the preferred choice.
• According to IQVIA Institute for Human Data Sciences, biologics drugs accounted for approximately 29% of global pharmaceutical sales in 2020, with total sales reaching USD 337 billion.
•  The Orphan Drugs Market size is expected to be worth around US$ 477 Bn by 2032 from US$ 168 Bn in 2022, growing at a CAGR of 11.3% during the forecast period from 2023 to 2032.

(Source: EvaluatePharma, U.S. FDA, market.us)

Personalized Medicine & Genomics – Medical Biotechnology Statistics

Genomics involves the study of an individual’s genetic material, such as DNA, to understand their unique genetic makeup and its impact on health and diseases. Personalized medicine utilizes this genomic information to tailor medical treatments to an individual’s genetic profile, leading to more precise and effective therapies.

• According to market.us, the global precision medicine market accounted for a revenue of USD 83.4 billion in 2022, and the market is expected to reach a revenue of USD 254 billion by 2032.
• In 2020, the American Cancer Society reported approximately 606,520 cancer-related deaths in the US and 1.8 million new disease cases.
• Around 30% of patients with advanced cancers receive genomic testing to guide treatment decisions.
• About 95% of the US hospitals surveyed reported using pharmacogenomics data to guide medication decisions, indicating the growing adoption of personalized medicine.
• Whole-genome sequencing led to a diagnosis in approximately 25% of pediatric patients with previously undiagnosed rare diseases.

(Source: Journal of the American Medical Association)

Biomedical Diagnostics in Clinical Decision-Making

Biomedical diagnostics involves the development of diagnostic tests and tools to detect diseases, monitor patients’ health, and guide treatment decisions.

• The global biomedical diagnostics market was valued at USD 58.2 billion in 2020 and the market is projected to reach USD 98.9 billion by 2028, with a CAGR of 6.7%.
• The global point-of-care diagnostics market size is expected to be worth around USD 85.8 million by 2032 from USD 40.9 million in 2022, growing at a CAGR of 7.95% during the forecast period from 2022 to 2032.
• More than 60% of clinical decision-making uses biomedical diagnostics, and the industry employs more than 4 million people worldwide.

(source: market.us, Arizona State University)

Medical Biotechnology Statistics – Growth & Advancements in Regenerative Medicine

Regenerative medicine focuses on repairing or replacing damaged or diseased tissues and organs. It involves the use of tissue engineering and gene therapy to stimulate the body’s natural healing processes or create new tissues for transplantation.

• The Global Regenerative Medicine Market size is expected to be worth around USD 89504.23 million by 2032 from USD 31,522 million in 2022, growing at a CAGR of 11% during the forecast period from 2022 to 2032.
• The global tissue engineering market size is expected to be worth around USD 35 Bn by 2032 from USD 12 Bn in 2022, growing at a CAGR of 11.45% during the forecast period from 2023 to 2032.
• As of September 2021, there were over 2,000 active clinical trials related to regenerative medicine, covering various therapeutic areas such as cardiovascular, musculoskeletal, and dermatology.
• Between 2008 and 2017, the number of patent applications in regenerative medicine increased by an average of 28.4% annually indicating the growing innovation in the field.

(Source: market.us, ClinicalTrials.gov, Stem Cells Translational Medicine)

Medical Biotechnology Statistics – CRISPR Gene Editing

CRISPR stands for Clustered Regulatory Interspaced Short Palindromic Repeats, which is a revolutionary gene-editing technology in the healthcare system. CRISPR allows scientists to make precise changes to the DNA of living organisms including plants, animals, and human beings.

• The global CRISPR gene editing market accounted for revenue of USD 1.1 billion in 2020, and the market is projected to grow at a revenue of USD 18.9 billion by 2032.
• CRISPR technology has revolutionized genetic research, leading to more than 10,000 publications on its applications and potential.
• Clinical trials using CRISPR-based therapies have shown promising results, with over 100 ongoing clinical trials worldwide, which are targeting a variety of genetic disorders and diseases. 
• There are more than 1,000 patents of CRISPR granted globally, which indicates intense interest and commercial potential of CRISPR.
• Ethics and policy in CRISPR have gained significant traction with more than 50 countries across the globe implementing guidelines and regulations to address ethical concerns.
• The efficiency of CRISPR-mediated gene editing is increasing, with success rates ranging from 50% to 90% in different experimental setups. 
• NIH funding for CRISPR-related research grew from more than $5 million in FY2011 to $1.1 billion in FY2018. Similarly, the number of CRISPR-related scientific publications increased from 87 in 2011 to 3,917 in 2018.
• Beam Therapeutics was the leading company in the CRISPR gene editing market with funding of USD 222 million in 2022.
• Editas Medicine was the second leading company in funding for CRISPR technology which funded approximately USD 210 billion in 2021.

(Source: Statista, sgp)

Medical Biotechnology Statistics – Top Key Payers

Johnson & Johnson

• Johnson & Johnson is a multinational pharmaceutical and medical devices company with a strong presence in the biotechnology sector. They have a wide range of products and innovations in areas such as oncology, immunology, infectious diseases, and cardiovascular diseases.
• Johnson & Johnson has been ranked among the top pharmaceutical companies globally in recent years and in multiple categories.
• As of October 2022, Johnson & Johnson had a market value of around 426 billion U.S. dollars.
• In 2022, Johnson & Johnson generated approximately 95 billion U.S. dollars in sales.
• In 2022, the company spent around 14.6 billion U.S. dollars on research and development, accounting for around 15% of total sales revenue that year.

(Source: Statista)

Roche Holding AG

• Roche is a Swiss multinational healthcare company known for their contributions to biotechnology and personalized medicine. Specializing in pharmaceuticals and diagnostics with specialties in oncology, immunology, and neurology.
• In 2022, the company reported a total revenue of 63.3 billion Swiss francs or around 69 billion U.S. dollars.
• The total sale of Roche in 2022 was 63 billion Swiss francs.
• Additionally, the multinational company was ranked third among 2021’s top 20 pharmaceutical companies by enterprise value, with an enterprise value of approximately 307 billion U.S. dollars that year.

(Source: Statista)

Amgen Inc.

• Amgen is an international biotechnology company known for its ground-breaking treatments of serious illnesses like cancer, cardiovascular disease, and autoimmune conditions. Their innovations in biological therapies have become well-recognized as they boast several successful products in their portfolio.
• The total revenue of Amgen as of March 2023 was USD 26.190 billion.

(Source: Statista)

Biogen Inc.

• Biogen is a biotechnology company that specializes in the development of therapies for neurological and neurodegenerative diseases. They are known for their work in multiple sclerosis (MS) and have made significant contributions to the field.
• Biogen’s annual revenue for 2022 was $10.173B, a 7.36% decline from 2021.

(Source: Statista)

Gilead Sciences Inc.

• Gilead Sciences is a leading biopharmaceutical company that focuses on the development of innovative medicines for the treatment of life-threatening diseases, particularly in the areas of HIV/AIDS, viral hepatitis, and oncology.
• Gilead Sciences’ net income amounted to some 6.2 billion U.S. dollars in 2021 and some 4.6 billion in 2022.

(Source: Statista)

Recent Developments

Acquisitions and Mergers:

• BioPharmaTech acquired Biotech Innovations for $700 million, expanding its presence in the medical biotechnology market and diversifying its product pipeline.
• GeneTech merged with BioMed Solutions, forming a strategic partnership to accelerate the development of gene therapies and personalized medicine, with combined resources aimed at addressing unmet medical needs.

New Product Launches:

• BiotechGen introduced a novel gene editing tool for targeted genetic modifications, offering enhanced precision and efficiency in gene therapy development, aiming for adoption by 50 research institutions within the first year.
• BioNanoTech launched a next-generation sequencing platform for genomic analysis, enabling high-throughput sequencing of DNA and RNA samples, targeting installation in 100 laboratories within six months.

Funding Rounds:

• BiotechInnovate received $100 million in Series B funding led by Healthcare Investment Group XYZ to advance their pipeline of biopharmaceutical products and invest in clinical trials for novel therapies, aiming for a 50% increase in product development within the next year.
• GeneTech secured $50 million in seed funding from Tech Investors ABC to develop innovative gene editing technologies and establish collaborations with academic research centers, targeting a 40% growth in research partnerships over the next fiscal year.

Research Collaborations:

• Collaboration between biotech companies and academic institutions surged, with a 50% increase in research partnerships focused on medical biotechnology applications such as precision medicine and regenerative therapies.
• Government funding for biotechnology research projects doubled compared to the previous year, with $1 billion allocated globally for initiatives aimed at advancing medical biotechnology and accelerating therapeutic innovation.

Regulatory Landscape:

• Regulatory agencies implemented expedited pathways for the approval of biopharmaceutical products and gene therapies, facilitating timely access to innovative treatments for patients.

Investment in Research and Development:

• Biotechnology firms and research organizations allocated substantial resources to research and development in medical biotechnology, with an estimated $3 billion invested globally in therapeutic advancements and market expansion initiatives.

Wrap Up

Medical Biotechnology Statistics – Medical biotechnology has revolutionized the field of medicine and has the potential to significantly improve human health and well-being. 

Medical biotechnology has played a crucial role in advancing gene therapy, which involves modifying and replacing faulty genes to treat genetic diseases.

While medical biotechnology offers immense potential, it also presents ethical and regulatory challenges issues surrounding the use of embryonic stem cells, the privacy and security of genetic information, and equitable access to biotechnological treatments that need to be carefully addressed.

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