Albany, NY -- (SBWire) -- 05/25/2016 --Transparency Market Research has recently published a new research report on the U.S. biopharmaceutical market. The research report, titled "U.S. Biopharmaceutical Market - Global Industry Size, Market Share, Smart Trends, Analysis And Forecast 2012 – 2018," evaluates the strengths, weaknesses, opportunities, and threats impacting the major segments of this market by using a SWOT analysis. The process of making biopharmaceuticals uses biotechnology. These medical products are different from conventional chemically manufactured pharmaceuticals as they use vaccines, blood components, somatic cells, allergenics, tissues, and other living forms. These products are being developed to fight infectious diseases, build good health, and create a biodefense.
According to the research report, the U.S. biopharmaceutical market stood at US$90 bn and is expected to surge at an 11% CAGR between 2012 and 2018. Currently, the U.S. contributes 50% to the overall production of biopharmaceuticals in the world. In the coming years, the U.S. biopharmaceuticals market will be driven by the introduction of an improved line of products at a rapid pace, which is expected to provide consumers with a huge variety to choose from, thereby spurring consumption. This market will also be fueled by the increasing pool of geriatrics, who are the main consumers of biopharmaceuticals. The increasing number of approvals for developing new indications of existing drugs and therapies is expected to propel this market.
The U.S. biopharmaceutical market does face tough challenges such as the high cost of production, which has forced several new entrants and the existing ones to retreat. In order to make the products commercially successful, costs have to be slashed drastically. Furthermore, the negative side effects of biopharmaceuticals are also hampering the growth of this market. The opinion that biopharmaceuticals are a secondary line of action to any treatment is also reflecting poorly on this market's growth.
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However, the increasing consumer awareness about biopharmaceuticals and development of these products to treat a range of diseases is expected to provide huge opportunities for growth to this market in the near future. Currently, the therapeutic applications of biopharmaceuticals are applied in areas such as hematopoietic growth factors, blood factors, hormones, thrombolytic agents, interferons, and vaccines.
Some of the key players operating in the U.S. biopharmaceutical market are Abbott Laboratories, Novartis, Merck, Pfizer, and Johnson and Johnson. The research report profiles these players and provides a fair assessment of competitive landscape of the U.S. biopharmaceutical market. Furthermore, the researchers have also explained the research and development activities, financial overview, investment outlook, the list of existing biopharmaceuticals products and those in the pipeline, and strategic mergers and acquisitions of these players in the foreseeable future.
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U.S. Biopharmaceutical Market to Surge at 11% CAGR 2012-2018 Due to New Product Launches
Transparency Market Research Report Added "US Biopharmaceutical Market" to its database.