Primary source of biological drugs are living cells. These drugs are used in treatment and prevention of chronic diseases such as cancer, severe blood disorders and few other auto-immune diseases. The complex structure of biological drugs separates them from other conventional drug types. Demand for biological drugs has grown in recent past, which is attributed to the increasing prevalence of chronic diseases across the globe. In addition, government organization are endorsing the usage of biological drugs, which in turn is translating into growth of global biological drugs market. PMR indicates that the global biological drugs market will witness a healthy CAGR of over 10% during the forecast period to reach US$ 287,139.7 by 2020,
Key Market Dynamics
Demand for biological drugs is expected to gain traction in the near future owing to the worldwide increase in geriatric population and higher prevalence of chronic diseases. Moreover, the global biological market is benefiting from various healthcare awareness initiatives taken by both public and private organizations. Likewise, innovation in biomedical technology and ongoing R&D programs are anticipated to highlight further scope for market expansion. On the other hand, issues related to patent expiry of bestselling drugs and pricey nature of such drugs are expected to inhibit the overall market growth. Similarly, additional threats of severe side effects and associated risks from injectable biological drugs may also negatively influence the growth of the market.
The global biological drugs market has been classified into therapeutic protein, monoclonal antibody, vaccine and region.
On the basis of therapeutic protein, the market is segmented into enbrel, neulasta, novoLog, humalog, rebif, epogen, levemir, betaseron, eylea, lantus, avonex, aranesp, victoza and neupogen. Enbrel is the most dominating segment and is expected to grow at the fastest rate during the forecast period. By monoclonal antibody (mAb), the market is segmented into, remicade, avastin, lucentis, humira, rituxan and herceptin. In addition, the humira segment will continue to dominate the market over the forecast period. Based on vaccine, the market is segmented into prenvar 13, fluzone, cervarix, gardasil and varivax. Demand for prevnar 13 is expected to be higher compared to other vaccines through 2020.
On the basis of region, the global biological drugs market is segmented into North America, Asia Pacific, Europe and rest of the world (RoW). North America will continue to be the most lucrative market for biological drugs during the forecast period. In addition, the market in North America is expected to be worth 147,783.8 Million by 2020, expanding at 10.9% CAGR over the forecast period. Increasing demand for biological drugs to treat diseases such as diabetes and cancer is expected to support growth of the market in the region. Moreover, frequent healthcare awareness programs conducted by various public organizations is further influencing the market growth in North America. The market in Europe, is primarily driven by demand for biological drugs from the geriatric population of the region. According to a UN report, by 2025 elderly population in Germany is expected to cover 33.2% of the total population in the country. In Asia, factors such as encouraging government initiatives and higher funding for establishing new biotech companies, drug manufacturing facilities and life science institutions are expected to stimulate the biological drugs market in the region. Moreover, the cost of drug manufacturing in Asia is lower compared to other regions, which in turn is alluring the overseas companies to setup manufacturing plants in the region.
Key Market Participants
Key market players operating in the global biological drugs market include Merck & Co., Inc., Abbott Laboratories, Eli Lilly and Company, Baxter International Inc., Novartis AG, Pfizer Inc., Biogen Idec, Bristol-Myers Squibb Company, Amgen Inc., and GlaxoSmithKline plc.
Persistence Market Research (PMR) provides key insights on the global biological drugs market over the forecast period (2014-2020). The primary objective of the report is to provide in-depth analysis and future market estimations, including growth drivers, restraints, opportunities, trends, key segments, status of the regional markets and key market participants operating in the global scar treatment market. Along with the provision of quality insights quantification of data has been considered through discussions with market experts, clinicians and product managers.
To understand and assess opportunities in the global marketplace, the report is categorically split into four sections in terms of market value (US$ Mn), namely market analysis by therapeutic protein type, by monoclonal antibody (mAb), by vaccine type and by geography. The report further provides comprehensive data on forecast values, global market estimations, and competitive landscape. The aforementioned segments have been analyzed in terms of Basis Point (BPS) to understand each segment’s relative contribution to the overall market growth.
The geographical analysis studies the market on the basis of the regional opportunities and estimates the market value for each region during the forecast period. The report also considers a year-on-year growth based on regional market analysis, in order to identify right opportunities in each of the regions and to understand predictability of the market.
The last part of the report provides an exhaustive analysis on the global competitive landscape including leading market participants and a dashboard view. Market strategies of prominent players and their key developments have also been included in the report.
To deduce the global biological drugs market, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by therapeutic protein type, by monoclonal antibody (mAb), by vaccine type and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global biological drugs market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on the supply side and demand side drivers and other key dynamics of the global biological drugs market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global biological drugs market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the biological drugs devices market. Further, to understand key segments in terms of their growth and overall global biological drugs market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global biological drugs market.
Some of the major players in the biological drugs market:
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.