Global pharma companies are increasing their research and development spending, with about 50 per cent of funds utilised in developing drugs in three major therapeutic categories- Diabetes, Cardiovascular and Oncology.
Diabetes has become a major focus segment for several companies. The Diabetes market was estimated to be about $ 17 billion in 2005. It is likely to grow to $ 35 billion by 2012. Asia has about 70 million diabetic patients and this number is likely to touch 90 million by 2025, of which India is going to have majority of them, according to Dr Kiran Mazumdar Shaw, CMD, Biocon.
There are 10 million new cases of cancer and six million deaths globally. The Cancer drugs market was estimated to be $ 15 billion in 2003, while it is expected to increase to $ 29 billion by 2008. The biotech industry's revenues from biotech-enabled cancer therapies are expected to rise at an average annual growth rate (AAGR) of 14.5 per cent. Of the 400 new cancer therapies developed worldwide during 2003, about 200 were biotech drugs and 40 were monoclonal antibodies.
The monoclonal antibodies market is also becoming significant, likely to touch $ 30.3 billion by 2010, from $ 10.3 billion in 2004. A series of fully humanised antibodies are expected to be launched from 2007 onwards, accounting for about 12 of the 20 launched between 2007-10, Dr Shaw added.
Valued at an estimated $73.7bn in 2002, the global market for cardiovascular drugs grew by a moderate 2.5 per cent over 2001 levels. Cardiac therapy holds enormous potential for new drugs due to high unmet need within substantial patient populations.
Pharma industry which focused on New Chemical Entities (NCEs) is now shifting its attention to biological entities to address medical challenges. Big pharma is facing famine due to low discovery pipeline. They are depending on small biotech companies today. An estimated $ 17 billion has been spent by pharma industry in licensing molecules from small biotech companies. Over 50 per cent of new molecules of all big pharma companies come from biotech sector.
The concept of phase 'zero' is slowly gaining attention, which can be a means to new drug development. Though India would have to make a policy to be put into practice, it can offer abundant opportunities to several Indian companies. India has a cost advantage in developing affordable drugs. But, the industry has already realised that cost aspect alone cannot be taken into consideration as the gap between Western and Asian economies are reducing fast. Innovation would play key role in future, she added.