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Market snapshot: North America and Europe PEGylated Drugs Market 2018-2024

Author : Rahul Sankrityayan | Published Date : 2019-03-29 

The North America and Europe PEGylated Drugs Market to exceed USD 10.5 billion by 2024; according to a new research report by Global Market Insights. Increasing R&D investment of biotechnology & pharmaceutical companies to develop enhanced PEGylated drugs for treatment of various chronic diseases along with rising occurrence of chronic ailments in developed regions will propel PEGylated drugs market growth over the forecast period.

Major advancements in biologics sector including advances in drug antibody conjugates, and immunotherapies will positively impact market growth. Moreover, rising incidences of chronic ailments and increasing death rates associated with cancer in Canada will propel North America and Europe PEGylated Drugs Market growth. However, the side-effects associated with pegylated drugs along with drug failure will impede PEGylated drugs market growth over the forecast timeframe.

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Citing an instance to affirm the significance of the ongoing innovations across North America and Europe PEGylated drugs market, the European Commission approved the biopharmaceutical giant Shire’s second line combination therapy, Onivyde, in 2016. Apparently, this has made Onivyde, which basically is a pegylated liposomal irinotecan hydrochloride trihydrate, the first licensed treatment therapy that can be administered to adults with metastatic adenocarcinoma of pancreas. Reportedly, the latest EU license approval follows the U.S. Food and Drug Administration’s (FDA) sanction of the drug, after Shire secured U.S. marketing authorization in October 2015.

Speaking in the similar context, it would be prudent to mention that pancreatic cancer is the seventh leading cause of death across the world and fourth in Europe. For the record, pancreatic cancer causes approximately 330,400 deaths annually throughout the continent, as per reliable estimates. Moreover, poor prognosis and delayed medical intervention has further aggravated the current medical care scenario. However, the prevailing cancer treatment procedures would undergo a revolution of sorts with the arrival of advanced drugs such as Onivyde, which would eventually impact North America and Europe PEGylated drugs market outlook, cite analysts. For the record, cancer application held 60% of the overall North America and Europe PEGylated drugs industry share in 2017.

Concurrently, it has been observed that a number of prominent firms are focusing on development and commercialization of targeted therapies to treat rare illnesses. For instance, one of the notable participants in North America and Europe PEGylated drugs industry, Eiger BioPharmaceuticals, Inc recently announced to have received orphan designation by U.S. FDA for its pegylated interferon lambda 1a. The Orphan Drug Designation Program provides orphan status to biologics and drugs which have been defined as safe for diagnosing, treating or preventing rare illnesses that affect less than 200,000 residents of the U.S.

As has been reported, the latest drug by Eiger is being termed as an effective potential treatment for chronic hepatitis delta virus (HDV) infection. Moreover, Lambda is said to be a first in class, well-characterized, late stage, type III interferon that stimulates immune responses which are considered critical for generating host protection from viral infections.

For the record, hepatitis delta is considered as one of the most severe forms of viral hepatitis in humans and is caused by infection with HDV. With a significant impact on global health, hepatitis delta, as per reliable estimates, affects about 15-20 million people worldwide. Therefore, the launch of Eiger’s Lambda is anticipated to predominantly assist healthcare providers in lowering the mortality rates caused by hepatitis delta. This would eventually propel the commercialization potential of North America and Europe PEGylated drugs market over the ensuing years from hepatitis treatment application. The segment accounted for a revenue of USD 156 million in 2017.

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North America and Europe PEGylated Drugs Market by Disease Indication

Multiple sclerosis
Gastrointestinal disorders

North America and Europe PEGylated Drugs Market by Type

Monoclonal antibodies (mAbs)
Colony stimulating factors

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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