The global biological drugs market is anticipated to grow from an estimated US$ 161,056.5 Mn in 2014 to US$ 287,139.7 by 2020, at a CAGR of 10.1% during the forecast period.
Albany, NY -- (SBWIRE) -- 09/25/2015 -- Biological drugs are typically derived from living cells and are used in the prevention and treatment of various diseases such as cancer, blood disorders, auto-immune diseases and other medical conditions. Biological drugs have more complex structures compared to that of conventional drugs. These are highly sensitive and more difficult to characterize and develop. A biological drug typically has around 250 in-process tests during manufacturing compared to around 50 tests for a conventional drug.
The increasing prevalence of chronic diseases and growing geriatric population are the major drivers of the global biological drugs market. In addition, various government associations are also supporting the growth of the biological drugs market. Furthermore, advancements in biomedical science hold immense potential for the growth of the biological drugs market. However, high costs of biological drugs and patent expiry of blockbuster drugs impede the growth of the biological drugs market. Moreover, risks of adverse effects associated with biologic injectable drugs are also inhibiting the growth of the biological drugs market.
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In terms of geography, North America dominates the global biological drugs market. This is due to increasing use of biological drugs for the treatment of diseases such as cancer, diabetes, and other chronic diseases. In addition, various government associations are promoting the usage of biological drugs in North America. For instance, in 2012, the American College of Rheumatology – an organization that advances rheumatology through education and research – recommended biologic agents and disease-modifying antirheumatic drugs for the treatment of rheumatoid arthritis.
In Europe, the biological drugs market is growing due to increasing aging population in the region. According to a UN report, elderly people accounted for 23.2% of the total population in Germany in 2000, and the number is expected to reach 33.2% by 2025. Aging can lead to certain disorders such as age-related macular degeneration and glaucoma, which require biological drugs for their effective treatment.
Low manufacturing costs in Asia attract biopharmaceutical companies to invest in the region. For instance, Lonza – a Switzerland-based biotechnology company – invested around US$ 350 Mn in Singapore and India, in order to encourage biological activities.
This report provides in-depth analysis and estimation of the biological drugs market for the period 2014–2020, considering 2014 as the base year for the calculation. In addition, data pertaining to current market dynamics, including market drivers, restraints, trends, and recent developments, has been provided in the report. The global biological drugs market is categorized based on therapeutic protein, monoclonal antibodies (mAb), and vaccines. Based on therapeutic protein, the market segments include Enbrel, Lantus, Neulasta, Avonex, NovoLog, Rebif, Humalog, Aranesp, Epogen, Levemir, Victoza, Betaseron, Neupogen, and Eylea. Based on mAb, the report comprises Humira, Remicade, Rituxan, Avastin, Herceptin, and Lucentis. The vaccine segment is further sub-segmented into Prevnar 13, Gardasil, Fluzone, Varivax, and Cervarix. On the basis of geography, the report identifies and analyzes the market size and predictions for North America, Europe, Asia, and Rest of the World (RoW).
Some of the major players in the biological drugs market are Pfizer Inc., Abbott Laboratories, Novartis AG, Eli Lilly and Company, GlaxoSmithKline plc., Bristol-Myers Squibb Company, Merck & Co., Inc., Amgen Inc., Baxter International Inc., and Biogen Idec. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
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