The global biopharmaceuticals market was valued at US$ 161,851.6 Mn in 2014 and is expected to expand at a CAGR of 9.4% to reach US$ 278,232.9 Mn by 2020.
Albany, NY -- (SBWIRE) -- 06/20/2016 -- Biopharmaceuticals are medicinal drugs which are produced through biotechnology methods such as recombinant DNA techniques, fermentation, hybridoma techniques, and purification processes. Biopharmaceutical production involves the usage of biological sources, either live organisms or their active components. They are made up of proteins and nucleic acids and target specific diseases and patients groups. Biopharmaceuticals are used in the treatment of various chronic diseases such as cardiovascular, metabolic, neurological, cancer, and other rare diseases for which there are no available treatments. Biopharmaceuticals have lead to enhancement in the quality of healthcare and has improved the quality of life of patients. Various biopharmaceuticals used for treating such diseases are monoclonal antibodies, erythropoietin, growth hormones, recombinant proteins, recombinant human insulin, purified proteins, interferon, vaccines and other biopharmaceuticals. However, high costs of biopharmaceuticals, entry of low-cost biosimilars, and risk of side-effects posed by biopharmaceuticals act as restraints for the biopharmaceuticals market.
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In terms of value, North America dominates the biopharmaceuticals market. This is due to rising research and development investments and increasing technological advancements in biopharmaceuticals in the region. The market in Asia is expected to experience a high growth rate in the near future. This is due to improving the quality of healthcare and increasing adoption of biopharmaceuticals by physicians, drug wholesalers, pharmacies, and patients in the region.
Various factors such as increasing chronic diseases, aging population, and technological advancements in biopharmaceuticals along with increasing investment in research and development by various companies has lead to the growth of the global biopharmaceuticals market. However, high costs of biopharmaceuticals, the risk of side–effects, and availability of low-cost biosimilars are restraining the growth of the global market for biopharmaceuticals.
This report provides in-depth analysis and estimation of the biopharmaceuticals market for the period 2014–2020, considering 2013 as the base year for the calculation. In addition, data pertaining to current market dynamics, including market drivers, restraints, trends, and strategic developments has been provided in the report. The biopharmaceuticals market is categorized on the basis of type, application, and geography. Based on type, the global biopharmaceuticals market can be classified as monoclonal antibodies, erythropoietin, granulocyte colony stimulating factor, purified proteins, recombinant proteins, recombinant human insulin, interferon, growth hormones, vaccines, and other biopharmaceuticals. Based on the therapeutic application, the global biopharmaceuticals can be classified as oncology, metabolic disorders, neurological disorders, cardiovascular diseases, inflammatory and infectious diseases, and other rare diseases.
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In the geographical analysis, the report identifies and analyses market size and forecast of North America, Europe, Asia, and Rest of the World (RoW). North America is further segmented into the U.S., and Canada; Europe into the U.K., Germany, France, Italy, Spain, and Russia; Asia into China, Japan, and India; and RoW into Australia and Brazil.
Some of the major players in the Biopharmaceuticals market are Pfizer, Inc., F. Hoffmann-La Roche AG, Johnson & Johnson Services, Inc., Sanofi, Amgen Inc., AbbVie Inc., Merck & Co., Inc., Biogen Idec, Bayer AG, Eli Lilly and Company, Novartis AG GlaxoSmithKline Plc, Bristol-Myers Squibb Company, AstraZeneca PLC, and Abbott Laboratories. 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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