Home Press Releases Biological Drugs Market is expected to reach USD 287,139.7 million in 2020
Biological Drugs Market is expected to reach USD 287,139.7 million in 2020
Posted on Jul 1, 2014
According to a new market report published by Transparency Market Research (www.transparencymarketresearch.com) “Biological Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” the global biological drugs market is estimated at USD 161,056.5 million in 2014 and is expected to grow at a CAGR of 10.1% from 2014 to 2020, to reach an estimated value of USD 287,139.7 million in 2020.
The biological drugs market is witnessing a significant growth due to the increasing prevalence of chronic diseases and increase in the global geriatric population. Biological drugs are used in treatment and prevention of various diseases such as cancer, blood-related diseases, auto-immune diseases and other medical disorders. Moreover, various government associations are also promoting the usage of biological drugs. Furthermore, advancement in biomedical sciences holds immense potential for the growth of the biologic drugs market.
On the other hand, high cost of biological drugs and patent expiry of blockbuster drugs impede the growth of the market. Moreover, the risk of adverse effects associated with biologic injectable drugs is also one of the key restraints of the market. As a result, biological drugs market is expected to grow a CAGR of about 10.1% during 2014-2020.
North America is the largest market for biological drugs. Increased use of biological drugs for the treatment of diseases such as cancer, diabetes and other chronic diseases are supporting the growth of the biological drugs market in the region. The American Center for Biological Medicine (ACBM) is one of the largest biological medicine clinics in the U.S.
Similarly, the European biological drugs market is growing rapidly due to increased usage of biological drugs for the treatment of various chronic diseases such as diabetes, cancer and inflammatory diseases.
In Asia, low manufacturing cost is attracting many biological manufactures to invest in Asian countries, supporting the growth of the biological drugs market. Moreover, Asian governments are also supporting growth of the biological drugs market by increased investment on biotech companies for construction of R&D and manufacturing facilities.
Novartis AG, Pfizer Inc., GlaxoSmithKline plc. and Merck & Co., Inc. are the some of the leading players in the global biological drugs market. Other major players of biological drugs market include Abbott Laboratories, Biogen Idec and Amgen Inc.
Browse the full Biological Drugs Market report at http://www.transparencymarketresearch.com/biological-drugs-market.html
The global market of biological drugs is segmented as follows:
Biological Drugs Market, By Therapeutic Protein
Biological Drugs Market, By Monoclonal Antibody (mAb)
Biological Drugs Market, By Vaccine
- Prenvar 13
Biological Drugs Market, by Geography
- North America
- Rest of the World (RoW)
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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