Market Report Summary
- Market – Global Biological Drugs Market
- Market Value – US$ 287,139.7 Mn in 2021
- Market CAGR Value – 10.1% in 2021
- Market Forecast Year – 2020 to 2030
For Full Information -> Click Here
Read Full Press Release Below
According to a new market report published by Persistence Market Research “Global Market Study on Biological Drugs: North America to Witness Highest Growth By 2020”, the global biological drugs market was valued at US$ 161,056.5 Mn in 2014 and is expected to grow at a CAGR of 10.1% from 2014 to 2020, to reach US$ 287,139.7 Mn by 2020.
Biological drugs are typically derived from living cells and are used in the prevention and treatment of various diseases such as cancer, blood disorders, auto-immune diseases, and other medical disorders. Biological drugs have more complex structures compared to that of conventional drugs.
Get Sample Copy of Report @ https://www.persistencemarketresearch.com/samples/2883
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.
Get To Know Methodology of Report @ https://www.persistencemarketresearch.com/methodology/2883
Globally, the biological drugs market is witnessing significant growth due to the increasing prevalence of chronic diseases and growing geriatric population. In addition, health and awareness initiatives by various government associations are also supporting the growth of the biological drugs market. However, high costs of biological drugs and patent expiry of blockbuster drugs impede the growth of the biological drugs market. Moreover, risks of adverse effects associated with biologic injectable drugs also inhibit the growth of the market.
The global biological drugs market is anticipated to grow from an estimated US$ 161,056.5 Mn in 2014 to US$ 287,139.7 Mn by 2020 at a CAGR 10.1% during the forecast period.
North America dominates the global biological drugs market. This is due to increasing use of biological drugs in the treatment of diseases such as cancer, diabetes, and other chronic diseases in the region. In addition, several clinics in the region are focusing on biological drugs for the treatment of various diseases.
Access Full Report @ https://www.persistencemarketresearch.com/checkout/2883
The biological drugs market in Europe is growing due to increasing aging population in the region. For instance, according to a UN report, elderly people accounted for 23.2% of the total population in Germany in 2000, and the number is expected to reach 33.2% by 2025. Aging can lead to certain disorders such as age-related macular degeneration and glaucoma, which require effective biological drugs for their treatment.
Low manufacturing costs in Asia are attracting biopharmaceutical companies to invest in the region, supporting the growth of the biological drugs market. Moreover, governments of some Asian countries are also supporting the growth of the biological drugs market by providing funds to life sciences research institutes and biotech companies for the construction of R&D and manufacturing facilities.
Explore Extensive Coverage of PMR`s Life Sciences & Transformational Health Landscape
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.
Persistence Market Research
Address – 305 Broadway, 7th FloorNew York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – [email protected]
Website – https://www.persistencemarketresearch.com