Global Biological Drugs Market is Expected to Grow at a CAGR of 10% by the End of 2023

PMR study report 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 2021

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.

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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.

Drivers and Restraints:

Drivers:

• Increasing prevalence of chronic diseases: The global biological drugs market is driven by the rising prevalence of chronic diseases such as cancer, diabetes, rheumatoid arthritis, and multiple sclerosis. Biological drugs offer targeted therapies that are highly effective in managing and treating these diseases, leading to a growing demand for such treatments.
• Technological advancements in biotechnology: Advances in biotechnology have led to the development of more sophisticated and effective biological drugs. The use of recombinant DNA technology, monoclonal antibodies, and other advanced techniques has expanded the range of therapeutic options available, driving the growth of the global biological drugs market.

Restraints:

• High cost of biological drugs: Biological drugs are often more expensive than traditional pharmaceuticals due to their complex manufacturing processes, research and development costs, and stringent regulatory requirements. The high cost of these drugs poses a significant barrier to their widespread adoption, particularly in developing countries with limited healthcare budgets.
• Stringent regulatory requirements: While favorable regulatory environments have been a driver, the stringent regulatory requirements for the approval and commercialization of biological drugs can also pose challenges. The complex manufacturing processes and the need for extensive clinical trials and safety data can result in delays and increased costs for market entry.

Research Methodology

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.

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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.

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.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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Persistence Market Research's Expertise in Life Sciences and Transformational Health Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic.

This release was published on openPR.