The global market of biopharmaceuticals is estimated to exhibit a healthy CAGR of 9.4% in a forecast period from 2014 to 2020. And by 2020 end, the market of biopharmaceuticals is anticipated to account for US$ 278 Bn.
With the help of various methods of biotechnology like hybridoma, recombinant DNA, purification processes and fermentation techniques large number of medicinal drugs are produced called biopharmaceuticals. Production of biopharmaceuticals require biological sources like live organisms or their parts.
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For the treatment of many chronic diseases like cancer, diabetes, rheumatoid arthritis, cardiovascular, psoriatic arthritis, neurological, chronic renal failure, metabolic, anemia arising from chemotherapy, psoriasis and various rare diseases for which treatment is still not available, biopharmaceuticals are widely used. In the pharmaceutical industry, biopharmaceuticals are widely used. Using transgenic organisms like plants and animals which have been engineered genetically for production of these medical drugs.
Biopharmaceuticals helps in enhancing healthcare quality and improving quality of patients’ life. Biopharmaceuticals like erythropoietin, recombinant human insulin, monoclonal antibodies, interferon, growth hormones, vaccines, recombinant proteins and purified proteins helps in preventing, treating and healing various diseases which have no cure. This, as a result is boosting the market growth of biopharmaceuticals.
Globally, the market of biopharmaceuticals is growing significantly due to growing aging population, rising R&D investments, escalating prevalence of chronic diseases and various technological advancements in this field is fueling the market growth of biopharmaceuticals. However, some factors including increasing biopharmaceuticals prices, side–effects of biopharmaceuticals, and availability of low-cost bio-similars are hindering the market growth of biopharmaceuticals.
Globally, the segmentation of biopharmaceuticals market has been done based on type, application and regions. On the basis of type, the global market of biopharmaceuticals is classified as granulocyte colony stimulating factor, recombinant proteins, monoclonal antibodies, interferon, growth hormones, purified proteins, vaccines, erythropoietin, and recombinant human insulin. Among these, the segment of monoclonal antibodies in the biopharmaceuticals market is growing fast.
Based on application type, the global market of the biopharmaceuticals is segmented into metabolic disorders, inflammatory and infectious diseases, oncology, cardiovascular diseases and neurological disorders. Among these, the segment of oncology in the biopharmaceuticals market is the largest segment.
Regionally, the global market of biopharmaceuticals is classified as the MEA, North America, Europe, Latin America, and Asia Pacific. Among these, the region of North America in the biopharmaceuticals market is the largest segment owing to technological advancements. During the forecast period, the region of North America is anticipated to account for US$ 111.5 Bn , registering a healthy CAGR of 9.5%.
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The key players in the market of biopharmaceuticals are F. Hoffmann-La Roche AG, Abbott Laboratories, Biogen Idec, Sanofi, Amgen Inc, Pfizer, Eli Lilly and Company, Novartis AG GlaxoSmithKline Plc, Merck & Co., AstraZeneca PLC, Johnson & Johnson Services, AbbVie Inc, Bristol-Myers Squibb Company,
Long-term Outlook: The global market of biopharmaceuticals is estimated to exhibit a healthy CAGR of 9.4% in a forecast period from 2014 to 2020.
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Summary: Global biopharmaceuticals market is estimated to account for US$ 278 Bn. Asia region to witness highest growth by 2020.
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