Infinium Global Research has added a new report on Biological Drugs Market. The report covers the analysis of global as well as regional markets of biological drugs. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run.According to the report, the global biological drugs market is projected to grow at a CAGR of 10.5% over the forecast period of 2019-2025.
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Biological drugs account for nearly 20% of overall drugs sold across the world and its share is increasing progressively. Biologics are manufactured by utilizing recombinant DNA technology within in animal cells, human cells, microorganisms or plant cells. Biological drugs are available as monoclonal antibodies, injections, recombinant therapeutic proteins, injections, oral solutions, interleukins, and vaccines. Allergenics, blood components, gene therapies, insulin, plasma therapies, somatic cells, and tissues are also forms of biological drugs. Biological drugs are effective for the treatment of illnesses such as AIDS, asthma, Alzheimer’s, anti-inflammatory diseases, cancers, Crohn’s disease, multiple sclerosis, psoriasis, psoriatic arthritis, rheumatoid arthritis and various cancers.
Rapidly Increasing Geriatric Population over the Globe is Driving the Growth of the Biological Drugs Market
The rapidly increasing geriatric population over the globe is driving the growth of the biological drugs market, as there is an increasing requirement for effective medicines for various illnesses affecting old age people. In addition, an increasing number of patients with cancer, diabetes and other major chronic illnesses are expected to drive the growth of the biological drugs market during the forecast period. The investments in research and development of biological drugs and innovation in manufacturing of biologics are anticipated to yield more products during the forecast period. The investments in research and development of biological drugs and innovation in the manufacturing of biologics are anticipated to yield more products during the forecast period.
Moreover, promotional activities by various health organizations and policies by governments to make biological drugs affordable for the treatment of chronic illnesses are expected to enhance the growth of the global biological drugs market. The complexity of manufacturing of biological drugs is a major challenge for the global biological manufacturers, especially in the developing and least developed countries, where it is difficult to maintain both the controlled environment for manufacturing and quality control. The need for effective medicines for illnesses like cancer, autoimmune diseases, and other chronic illnesses with minimal side effects, when compared to chemical drugs, is expected to provide opportunities for major players in the biological drugs market during the forecast period.
North America Dominates the Global Biological Drugs Market with a Major Share
North America dominates the global biological drugs market with a major share. Increasing technological advancements, favorable regulatory policies and increasing awareness about the biological due to the intervention of governments and other agencies are the major factors that drive the growth of the North American biological drugs market. Moreover, the increasing demand for biological drugs for the treatment of chronic illnesses such as cancer and diabetes are anticipated to drive the growth of the North American biological market during the forecast period. The presence of a large geriatric population in countries such as Germany and The United Kingdom drive the growth of European biological drugs market.
Furthermore, the presence of top-quality research and development infrastructure due to the partnerships between research institutes and manufacturing companies and increased funding from private-public initiatives drives the growth of the European market. Moreover, the low manufacturing cost and the availability of low-cost labor is expected to enhance the growth of Asian biological drugs market, as it could attract more established players in the global market to Asia.
Biological Drugs Market: Segmentation
The report on global biological drugs market covers segments such as product type. On the basis of product type, the sub-markets include therapeutic protein, monoclonal antibody, and vaccines.
Biological Drugs Market: Competitive Analysis
The report provides profiles of the companies in the market such as AbbVie Inc., Amgen Inc., Bristol-Myers Squibb, Biogen Inc., F. Hoffmann-La Roche AG, Johnson & Johnson, Eli Lilly and Company, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Other Companies.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Biological Drugs.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.