Albany, NY -- (SBWIRE) -- 10/11/2012 -- With an increase in the number of clinical trials in the past 5 years, the market for biologics is expected to witness a high growth during the coming years. Monoclonal antibodies, vaccines and therapeutic proteins will contribute significantly to the growth in the biologics market. The global biologics market is estimated to reach $176.4 billion by the end of 2012 and expected to grow at an annual compound growth rate of more than 9.5%.
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In the U.S. the market will witness significant growth, due to a resolution passed by the U.S. lawmakers in 2010; There is increasing competition among biologics manufacturers. Biologics enjoys medical coverage from Medicare and Medicaid.
The growth in the biologics market will be driven by the higher safety and efficacy provided by biologic treatments. The major areas of treatment that will witness enhanced use are cancer therapy, infectious and inflammatory diseases and baby vaccines.
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The report provides an insight into the global scenario of biologics market and discusses in detail the current scenario in the G7 economies providing the market overview and market figures. The research report discusses the important market drivers and future trends in the biologics market. The report also analyses the industry growth rate and provides forecasts for the next five years till 2018.
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