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While the market was worth over $6 billion in 2012, this has now grown to nearly $48 billion only a decade later, said Avigayil Chalk, PhD, GlobalData’s Senior Oncology and Haematology analyst, at an immuno-oncology webinar held on May 23. This high compound annual growth rate of 23.6%
The act includes drugs, vaccines, and therapeutics that are intended to treat a disease affecting <200,000 American citizens. With AI-aided research, it becomes relatively easier to select the right compound. Hence, the cost burden comes on the patients and makes drugs expensive for the patient.
With expensive new treatments, increasing numbers of patients in chemotherapy in major markets and developing nations like China, Brazil and Russia investing more in treating and diagnosing cancer, IMS predicts a compound growth rate of 12–15% and tips the global market to reach $80bn by 2012.
With shortages, regulatory complexity is compounded due to differences in submission and data requirements from various regulatory agencies. Published May 2012. Burke, PhD. 1 September 2022. A reliable supply of raw materials is critical to maintain a robust supply chain to serve patients globally. Published 2008.
Since time immemorial, plants have been widely used as a source of medicinal compounds. Medicago, has a technology called Proficia through which the company has developed Covifenz, a plant based VLP, recombinant, adjuvanted vaccine for COVID-19 in collaboration with GSK 5.
5 , 8 Compounding pharmacies were commonly mentioned as sources of microbial cross-contamination, especially in the US. 9 , 15 This has led to compounding pharmacies completing high-volume activities such as mass repackaging, thereby increasing the risk of cross-contamination. million vials, 26 had to be recalled and destroyed.
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