Biological Drugs Market to Rise due to Advancements in Biomedical Science
Published On : Jan 26, 2016
Biological drugs have been utilized for the treatment and prevention of a number of diseases such as blood disorders, cancers, and auto-immune diseases. These drugs are derived via living cells and have structures that are more complicated as compared to that of traditional drugs. In addition, biological drugs market are more difficult to develop and categorize and are highly sensitive in nature. A typical biological drug involves approximately 250 in-process tests while it is manufactured, in comparison to the approximately 50 tests involved in the manufacturing of a typical traditional drug.
Rising Occurrence of Chronic Diseases to Boost Biological Drugs Market
The development of the field of biomedical science exhibits great potential for the development of the market for biological drugs. In addition, factors such as the rising aging population and the rising occurrence of chronic diseases have also stimulated the biological drugs market. Furthermore, a number of government organizations globally have also been taking steps favoring the usage of biological drugs, hence boosting the market. On the other hand, factors such as the soaring costs of biological drugs as well as the patent expiry of blockbuster drugs may restrain the growth of the market. In addition, the increasing risk of side-effects with the usage of biologic injectable drugs may also impede the growth of the market in forthcoming years.
Enbrel Therapeutic Protein and Prevnar 13 Vaccine Held the Largest Shares in 2014
On the basis of therapeutic protein, the market for biological drugs is segmented into Neulasta, Enbrel, Lantus, Rebif, Avonex, NovoLog, Neupogen, Eylea, Betaseron, Epogen, Levemir, Humalog, and Aranesp. Amongst these, the segment of Enbrel leads the market for biological drugs and is the most swiftly developing segment of the market. In terms of monoclonal antibody (mAb), the market is segmented into Rituxan, Avastin, Remicade, Herceptin, Humira, and Lucentis. Amongst these, the segment of Humira emerged as the most rapidly growing mAb segment of the market. Among vaccines, the market for biological drugs is segmented into Varivax, Ceravix, Fluzone, Prevnar 13, and Gardasil. Amongst these, the segment of Prevnar 13 emerged as the most swiftly growing and the largest segment of the market.
North America Biological Drugs Market to Lead with a 10.90 % CAGR till 2020
Geographically, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Amongst these, North America holds the largest share in the market and is followed by Europe. The region of North America is predicted to expand at a 10.90% CAGR from 2014 to 2020. The reason for the dominance of the regional market of North America is the rising usage of biological products in the treatment of diseases such as diabetes, cancer, and many other life-threatening conditions. Furthermore, the supportive steps taken by the North American government have also fuelled the market for biological drugs in this region. On the other hand, the growing geriatric population suffering from number of ailments such as glaucoma and macular degeneration within Europe has also augmented the development of the biological drugs market in this region.
The chief vendors prevalent in the 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, among others.
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