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Growth of Biosimilars and Nutraceuticals will Drive Growth
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The global pharmaceuticals, biopharmaceuticals, and neutraceuticals market includes market revenues of analytical instrumentation applied in the 3 segments. Analytical instruments are applied in research, development, manufacturing, quality control, and distribution of drugs. Some key applications include (and are not limited to) drug discovery and development testing, biopharmaceutical analytical testing, quality control testing, cancer research, and process technology analysis.Neutraceutical includes analytical equipment used for functional food and beverages, dietary supplements, and herbals. Geographic scope is global. Different techniques, including chromatographs, mass spectrometers, infrared spectrometers, UV-Vis spectrometers, Raman spectrometers, thermal analyzers, and X-ray diffractometers are included under different applications. The total analytical instrumentation market in pharmaceuticals, biopharmaceuticals, and neutraceuticals was estimated at $3056.7 million in 2018, and is expected to reach $4911.4 million in 2025. There is a high pricing pressure on drug manufacturers to cut down costs. Hence, manufacturers would have to create a flexible pricing strategy to maximize their profits and negotiate with payers. Process analyzers that can be plugged in as part of the manufacturing process would reduce operating costs for manufacturers.The pharmaceutical market in 2018 oversaw massive vertical integration of organizations. This would lead to cost efficiency and innovation in the industry.Asia-Pacific is a large focus for pharmaceutical manufacturers, especially China. China has become a hub for innovation and R&D.With the increasing approval for biosimilars in the United States, there would be significant cost cuts in the country, motivated by government institutions such as the National Health Service (NHS). The price differential between biosimilars and their branded counterparts is 30%. US political uncertainity and Brexit would negatively impact pharmaceutical market growth.Manufacturers are offering exclusive biopharmaceutical solutions to resolve challenges associated with biological drugs. The intention of avoiding side effects-imposing small molecules and complex surgical procedures has led to targeted therapies of biologics. By 2020, analysts will expect biological drugs to capture about a quarter of the total small molecules market.Growth of biological drugs is expected to continue, as biological blockbuster drugs keep entering the market. The penetration of biologic drugs will increase from 25% in 2016 to 30% in 2022.Neutraceuticals are gaining importance and becoming a part of consumers’ daily diet. Lifestyle, health disorders, and lack of exercise are leading to the segment’s growth. Ingredients and raw material contamination, less awareness, and unclear regulations are challenging market growth.Neutraceuticals are often dietary supplements or food additives. They offer benefits such as preventing and curing diseases. Functional beverages such as energy drinks that contain stimulants to make the brain active are also popular.
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