Increasing Prevalence of Chronic Diseases Propels Global Biological Drugs Market


  • Published On : Sep 29, 2015

Most of the drugs in the global biological drugs market are derived from living tissue. Their primary aim is the prevention and/or cure of multiple diseases, including many blood disorders, auto-immune disorders, and cancers. The chemical structure of biological drugs is far more complicated than conventional drugs. A key characteristic of biological drugs is that they are extremely sensitive to changes and are therefore difficult to develop and produce.

In terms of testing for a drug’s safety, drugs in the global biological drugs market typically undergo over 250 in-process tests in the manufacturing period itself. When contrasted to the 50 tests performed for conventional drugs, we can see that the products in the global biological drugs market are bound to become more and more complicated.

The global biological drugs market is growing at a rapid CAGR of 10.1% from 2015 to 2020. The market’s value by the end of 2014 was US$161 bn. The market’s value by the end of 2020 is expected to be US$287 bn.

Increasing Prevalence of Chronic Diseases Boosts Global Biological Drugs Market

The global population contains a growing number of patients suffering from chronic diseases. Coupled with this fact is the growing geriatric population, which is in need of regular medication and drugs. These are the top drivers for the global biological drugs market. Other drivers include the large government initiatives taken up by national bodies to promote the use of biological drugs that can treat multiple diseases. Their initiatives have also allowed rapid growth of the biomedical sciences and consequently the global biological drugs market.

Global Biological Drugs Market Led by North America, Enbrel, and Humira

In terms of regions, the global biological drugs market is led by North America, owing to the massive R&D efforts conducted in its countries. The North America biological drugs market is expected to grow at a CAGR of 10.9% from 2015 to 2020, landing at an overall value of US$147.7 bn in 2020, from its 2014 value of US$79.2 bn. The region is experiencing a sharp increase in the number of patients suffering from chronic diseases such as diabetes and cancer. Multiple government-affiliated associations in North America are also promoting large-scale use of biological drugs. An example of this is the recommendation by the American College of Rheumatology for the use of biological drugs to treat rheumatoid arthritis.

In the category of therapeutic proteins, Enbrel is both the fastest growing and largest segment in the global biological drugs market. In terms of biological vaccines, Prevnar 13 is the fastest growing segment of the global biological drugs market.

The Europe biological drugs market is currently growing due to an increase in the number of elderly patients that suffer from age-related glaucoma and macular degeneration. Asia Pacific is attracting multiple international medical companies to invest in the region due to the low manufacturing costs in the region.

The top players in the global biological drugs market are Merck & Co., Inc., Bristol-Myers Squibb Company, GlaxoSmithKline Plc., Eli Lilly and Company, Novartis AG, Abbott Laboratories, and Pfizer Inc.

Browse Full Global Biological Drugs Market Research Report With Complete TOC @ http://www.persistencemarketresearch.com/market-research/global-biological-drugs-market.asp

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