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Biopharma will be worth $1.6tn in 2028, analysts predict

Drug Discovery World

A new forecast predicts global prescription drug sales to be worth $1.6tn by 2028. to 2028, according to the latest World Preview report published by Evaluate. The report predicts that in 2028 the biggest growth drivers will be developments in obesity, neurological conditions and cancer.

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Pharma must embrace an AI future says new report

Drug Discovery World

Chronic disease affects hundreds of million patients globally and this prevalence is expected to rise rapidly up to 2028. Based on the report, major players in AI in drug discovery markets include Atomwise, BenevolentAI, Exscientia, Insilico Medicine and Recursion Pharmaceuticals, amongst others.

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Price of non-human primates drops in China following Covid boom

Drug Discovery World

However, data from Statista predict a recovery in 2024, with the value of the Chinese pharmaceuticals sector increasing from $110.77 billion in 2024 and then growing at a rate of 7.22% per year to 2028. Data provider Pharmcube reported that investment on new drug discovery in China fell by 32% in 2023 to $4.8 billion in 2023, to $118.99

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India: Why is the country ramping up drug discovery research?

Drug Discovery World

In the global pharmaceuticals market, India ranks third worldwide for production by volume and the domestic pharmaceutical market is expected to reach US$120-130 billion by 2030 1. Similarly, The Times of India says that branded generic medicines have “long fuelled India’s pharmaceutical exports” 4.

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Can Singapore become a global hub for biotech?

Drug Discovery World

According to Statista, revenue in this sector is expected to grow at an annual rate of 6.77%, resulting in a market volume of US$2,208m by 2028 1. Singapore is among a few countries worldwide whose pharmaceutical export value far exceed the import value. UK-based molecular diagnostics group Yourgene operates in Singapore.

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Highs and lows of drug repurposing 

Drug Discovery World

It’s why pharmaceutical companies will often spend up to 10 years and upwards of $1 billion before receiving regulatory approval for a drug. According to MarketWatch, the drug repurposing sector was thought to be worth $25,280 in 2021 and is expected to grow to $30,620 million by 2028 with a CAGR of 2.8%. Benefits and barriers .

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Transitioning to eCTD v4.0

The Premier Consulting Blog

offers significant advancements in the way that sponsors and regulatory bodies handle submissions, and adapting to these improvements will be mandatory across all major regulatory authorities by 2028 (earlier, in many regions). This blog post gives an overview of the changes that eCTD v4.0 As of April 2023, the FDA is overseeing its eCTD v4.0