According to the report “Bio Pharmaceuticals Market”, published by Market Data Forecast, the global market is projected to reach USD 250.62 Billion by 2021, at a CAGR of 9.2% from 2016 to 2021.
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Bio pharmaceuticals industry has come a long way since approval of its first drug. Now, several drugs have already been approved and many more are in last stages of their clinical trial. These drugs have not only innovated the prevention and treatment of a number of life threatening diseases but have also delivered the thrust for the constant success of the pharmaceutical industry.
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Major factors driving the growth of the market are rising healthcare expenditure, growing awareness regarding bio pharmaceutical drugs and increasing aging population. Ability of these drugs to treat chronic diseases which were earlier untreatable is increasing its demand enormously and also increases the profit margin for manufacturers.
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Global Market for Bio Pharmaceuticals is segmented by Product type, Therapeutic Type and Region
1.By Product Type:
•Monoclonal Antibodies (mAb)
•Recombinant Human (RH) Insulin
•Granulocyte colony-stimulating factor (G-CSF)
•Human growth hormones (HGH)
2.By Therapeutic Type:
•Other Therapeutic Areas
•Middle-East and Africa
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Merck & Co., Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, Inc., Sanofi, Amgen Inc., AbbVie Inc., Biogen Idec, Bayer AG, Johnson & Johnson Services, Pfizer, Inc., and Novartis AG are some of the leading players in the market for bio pharmaceuticals.
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