Thursday, February 26, 2015
Big pharmaceutical companies and foreign investors are flocking to Turkey to capitalize on its encouraging economic policies, according to global growth consulting firm Frost & Sullivan. The establishment of technology development zones that exempt pharmaceutical entrepreneurs and academics from income taxes until 2023 has played a particularly crucial role in driving R&D activity in the life sciences industry.
The global stem cell market earned revenues of $40.01 billion in 2013 and is estimated to nearly triple to $117.66 billion in 2018 at a compound annual growth rate (CAGR) of 24.1%, according to a new analysis from Frost & Sullivan. The study covers human adult and embryonic stem cells. While North America is the market leader with more than half of the global stem cell market share, Asia-Pacific is expected to record the highest CAGR during the forecast period. In fact, the APAC stem cell market, which was valued at $5.6 billion in 2013, is projected to increase to $18.71 billion by 2018.
Based on its recent analysis of the eClinical solutions market, Frost & Sullivan recognizes Clinical Ink with the 2014 North American eClinical Solutions Award for Entrepreneurial Company of the Year. The award recognizes Clinical Ink’s innovative SureSource platform—the first purpose-built eSource solution that captures data electronically at the point of care.
New analysis from Frost & Sullivan‘s Product and Pipeline Assessment of the Global Orphan Drugs Market identifies rare cancers as the orphan therapeutic area with the highest level of drug development activity. Other disease areas witnessing considerable drug development activity include blood/lymphatic system diseases, infectious/parasitic diseases, neurological diseases, metabolic diseases and immunological/inflammatory diseases.
The Latin American diabetes therapeutics market will experience major changes within the next three years due to the launch of innovative drugs that include three long-acting insulins and four non-insulin treatments. Nevertheless, pharmaceutical companies should continue their research to develop treatments that can restore beta-cell function and thereby postpone or prevent disease progression—areas that even newer therapies do not address.
Frost & Sullivan has made its three big predictions for the global healthcare market. Based on a 2013 Search for Growth survey of 1,835 executives in more than 40 countries, Frost & Sullivan have said key areas of growth in 2014 and beyond will be in mHealth, cloud computing and regulatory environments.