Patented Drugs Revolutionizing the Healthcare Sector

29 Nov
2023

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The global market for patented drugs is undergoing a transformative phase, with lots of new ideas, partnerships, and big breakthroughs happening. Pharmaceutical companies are working hard to create new treatments and make existing ones better. This blog is going to highlight the dynamic nature of the industry.

Developments that put the industry by storm

Pfizer's Breakthrough in mRNA Technology: Pfizer recently announced a significant breakthrough in mRNA technology, showcasing its commitment to revolutionizing drug development. After excelling in creating mRNA COVID-19 vaccines, Pfizer is now exploring this technology for other health issues like cancer and infectious diseases.

Merck's flagship drug, Keytruda: Merck, known for its advancements in cancer immunotherapy, is gaining attention for its key drug, Keytruda. The drug Keytruda from Merck has gained approval for wider use, treating certain lung cancers and advanced stomach or junction cancers. This highlights its flexibility and potential to change treatment norms.

Johnson & Johnson's Antiviral Pill: Johnson & Johnson has achieved progress in treating COVID-19 with its newly approved oral medication for the virus. This advancement not only helps meet medical needs during the pandemic but also shows the company's dedication to innovating in infectious diseases.

Product Launches:

Zolgensma by Novartis: Novartis, on the other hand, has been at the forefront of gene therapy, and the recent launch of Zolgensma, a gene therapy for spinal muscular atrophy, marks a significant step forward in addressing rare genetic disorders. The one-time treatment has shown promising results in clinical trials and has the potential to transform the lives of children affected by this devastating condition.

Advancements in oncology by AstraZeneca: AstraZeneca is advancing in cancer treatment with the introduction of new therapies. AstraZeneca is making progress in cancer treatment by introducing new therapies. These include targeted treatments for specific lung cancer mutations and innovative combinations, showcasing the company's dedication to advancing cancer care.

Keeping tab with a new report by Allied Market Research, the patented drugs market is projected to showcase a noteworthy CAGR of 6.0% from 2023 to 2032. China's patented drugs market is projected to grow the fastest at 8.0% from 2023 to 2032, while India is anticipated to be the second-highest in growth, with a 7.6% CAGR during this period.

Collaborations that boosted the market growth

Partnership between Bristol Myers Squibb and Bluebird Bio: The collaboration between Bristol Myers Squibb and Bluebird Bio aims to advance gene therapies for rare diseases. This partnership brought up both the companies’ expertise in drug development and gene therapy research to create treatments that could really make a difference for patients.

GSK and Sanofi’s global vaccine alliance: Sanofi and GlaxoSmithKline teamed up to develop a COVID-19 vaccine and enhance the availability of vaccines across the world. This collaboration not only addressed the urgent need for the pandemic response but also highlighted the importance of cross-industry partnerships in addressing global health challenges.

To sum up, it can be asserted that the global patented drugs market has a huge scope to gather exponential growth in the near future.

Koyel Ghosh

Author’s Bio- Koyel Ghosh is a blogger with a strong passion and enjoys writing in miscellaneous domains, as she believes it lets her explore a wide variety of niches. She has an innate interest in creativity and enjoys experimenting with different writing styles. A writer who never stops imagining, she has been serving the corporate industry for the last five years.

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