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 USD 287,139.7 million by 2020.
Albany, NY -- (SBWIRE) -- 04/01/2016 -- The 2013 Biologics Report on pharma.org states that many biopharmaceutical research companies in America are utilizing biological processes to create 907 medicines and vaccines aimed at more than 100 diseases. At present, several biological drugs are in the pipeline for auto-immune diseases, blood diseases, cancer-related conditions, and diabetes and cardiovascular diseases. The global biological drugs market is marked by robust R&D efforts. Companies in the global biological drugs market are investing millions to boost their R&D efforts to create revolutionary medications and therapies to target the most challenging disease.
Advancement in biomedical science holds a good promise for the development of novel biological products. This market trend will help the market expand significantly in the foreseeable future. The global biological drugs market is segmented on the basis of monoclonal antibody (mAb), vaccine, therapeutic protein, and geography.
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The report on the global biological drugs market presents a detailed scenario of the challenges the market faces. The high cost associated with biological drugs will impede the market's growth. Other factors such as the patent expiration of several blockbuster biological drugs, along with the growing risk of side effects of biological injectable medicines, will also suppress market growth.
The research study on the global biological drugs market presents a detailed scenario of the market restraints and delivers valuable recommendations on how players in the market can utilize these challenges to their advantage. A correlation, regression, and time-series analysis has been used to evaluate the key dynamics of the biological drugs industry.
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Overview of the Global Biological Drugs Market
The global biological drugs market is driven by factors such as the growing prevalence of chronic conditions, increasing geriatric population, and accelerating regulatory compliance. In 2014, the global biological drugs market was worth US$161,056.5 million in 2014. With a 10.1% CAGR expected during the forecast period of 2014 to 2020, the global biological drugs market will reach a market value of US$287,139.7 million by 2020.
By therapeutic protein, the global biological drugs market is segmented into Enbrel, Neulasta, Lantus, Avonex, Rebif, NovoLog, Eylea, Neupogen, Betaseron, Levemir, Epogen, Aranesp, and Humalog. Enbrel is the dominating therapeutic protein sector in the global biological drugs market.
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By mAb, the market is divided into Avastin, Rituxan, Remicade, Humira, Herceptin, and Lucentis. According to vaccine, the global biological drugs market is segmented into Ceravix, Varivax, Fluzoone, Gardasil, and Prenvar 13. Humira is the fastest growing mAb sector, while Prevnar 13 is the largest and fastest growing vaccine segment in the global biological drugs market.
In terms of geography, the global biological drugs market is divided into RoW, Europe, Asia, and North America. Presently, North America dominates the market, trailed by Europe due to its increasing adoption and use of biological products for the treatment of cancer, diabetes, and other fatal conditions.
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Companies mentioned in the research report
Some of the leading companies in the global biological drugs market are Roche, Amgen, and Novo Nordisk. Other notable companies in the market are Abbott Laboratories, Pfizer, Novartis, Eli Lilly, Bristol-Myers Squibb, Biogen, and Baxter.
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