Transparency Market Research has released a latest market research report titled “Biological Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020
”. The report examines the global industry for biological drugs, reports on the market trends, drivers, future prospects and goes into the details of market segments and the restraints for the biological drugs market.According to the report, the global biological drugs market
is developing at an encouraging CAGR of 10.1% during the forecast period from 2014 to 2020. The global biological drugs market was valued at US$161,056.5 million in 2014 and is predicted to reach a value of US$ 287,139.7 million by 2020. There is augmented growth in the biological drugs market globally as a result of high occurrences of chronic diseases. Biological drugs are used to treat and prevent auto-immune diseases, blood related diseases, cancer, and various medical disorders.
The report discusses the market drivers and restraints for biological drugs in detail. The high incidence of chronic diseases, government initiatives, and rise in geriatric population have all contributed to the accelerated growth of the biological drugs market. Other market growth factors include the advancement of biomedical science due to research that is supported and funded by public and private organizations as well as new enhanced drugs in the market. The factors that inhibit market expansion for biological drugs include risks linked with injectable biological medicines, patent expiry of various biological drugs, and high cost of biological drugs.Trends in the biological drugs market indicate the use of anti-vascular endothelial growth factor (VEGF) therapy in biopharmaceutical industry and genetically modified organisms (GMOs).
The market report explains the various segments within the biological drugs market. The segments are created on the basis of therapeutic protein, monoclonal antibody, vaccines, and geographical region. The therapeutic protein segment includes: Enbrel, Rebif, Aranesp, Epogen, Victoza, Neupogen, Eylea, Levemir, Rebif, Lantus, Avonex, Humalog, Betaseron, Neulasta and Novolog. Of these, Enbrel has the largest and rapidly growing market share as of 2014 within the therapeutic protein segment of the biological drugs market.
The vaccine segment includes Cervarix, Fluzone, Varivax, Prenvar 13 and Gardasil. Among these, Prenvar 13 is seen to be the fastest developing segment. The monoclonal antibody (mAb) segment includes Lucentis, Avastin, Remicade, Humira, Herceptin, Rituxan and Remicade. In this segment, Humira is reported as the fastest growing biological drug.The global biological drug market is also divided based on the following geographical areas: North America, Europe, Asia, and Rest of World (Row). North America had the largest market share in 2014. The report discusses the pipeline of biological drugs in the development phase over the forecast period. This includes drugs for treating blood diseases, cancer and related conditions, diabetes and cardiovascular diseases, and auto-immune diseases.
The report provides descriptive details of major players in the biological drug market with a company overview, products and segments, financial performance, and strategic developments. The companies are Novartis AG, Eli Lilly and Company, GlaxoSmithKline Plc., Merck & Co., Inc., Abbott Laboratories, Bristol-Myers Squibb Company, Biogen Idec, Amgen Inc., Baxter International Inc., and Pfizer Inc.
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