The Global Biological Drugs Market to witness data efficiencies with digitization, reaching US$ 287,139.7

The global biological drugs market is a rapidly growing sector in the pharmaceutical industry, driven by advances in biotechnology and increasing demand for targeted therapies for chronic and complex diseases. Biological drugs, also known as biologics, are produced using living organisms or their products and are used to prevent, diagnose, or treat a wide range of medical conditions.

Market Size:

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, 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.

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Some of the major players in the biological drugs market:

Pfizer Inc.
Abbott Laboratories.
Novartis AG.
Eli Lilly and Company.
GlaxoSmithKline plc.
Bristol-Myers Squibb Company.
Merck & Co., Inc.
Amgen Inc.
Baxter International Inc.
Biogen Idec.

Drivers and Restraints:

The global biological drugs market is expected to grow at a rapid pace in the coming years. However, there are several drivers and restraints that will impact this growth. One of the primary drivers for this market is the increasing prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders. Additionally, the growing geriatric population worldwide is also contributing to the growth of this market, as elderly people are more prone to developing chronic diseases. The rising demand for personalized medicine and the development of biosimilars are also expected to fuel market growth. However, stringent regulatory policies, high costs associated with the development and manufacturing of biological drugs, and the lack of reimbursement policies in developing countries may restrain market growth to some extent.

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Segment Analysis

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.

Regional Analysis:

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.

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