As new breakthroughs are actually made in the biomedicine sector, development is also anticipated in the biological prescriptions market. As per U.S.-based market analysis firm Persistence Market Research, this particular current market will report a 10 % CAGR from 2014 through 2020, and can be worth USD 287.13 billion by 2020.
Segments within the global market
The global biological drugs market could be broadly classified as: vaccines, therapeutic proteins, as well as mAb. The portion of therapeutic proteins can be split into: Avonex, Enbrel, Neulasta, Lantus, NovoLog, Humalog, Aranesp, Rebif, Levemir, Epogen, Victoza, Neupogen, Betaseron, and Eylea . Similarly, the mAb group can be divided into: Lucentis, Avastin, Herceptin, Rituxan, Humira, and Remicade . And, the part for vaccines may be sub-segmented as: Fluzone, Prevnar 13, Varivax, Gardasil, and Cervarix .
Global market by geography
The market for biological drugs can be classified as well as studied on the basis of geographical regions. Therefore, the market can be split into: Rest, Asia Pacific, Europe, and north America of the World. By market share, North America emerges when the dominant region. It’s followed by Asia and Europe.
In North America, the global market place is actually fuelled by the growing use of such drugs for treating chronic ailments as well as diabetes and cancer. A case in point will be the American College of Rheumatology’s advice of illness modifying antirheumatic medicines as well as biologic agents in dealing with rheumatoid arthritis in 2012. The American College of Rheumatology is a company dedicated to advancing treatment options for rheumatic conditions via education and research.
In other markets such as Europe, the growth of the market could be ascribed to a spike in the geriatric public. A report by the United Nations states that as of 2000, the elderly comprised 23.2 % of the total population of Germany. This percentage can potentially well scale to 33.2 % by 2025. glaucoma and Macular degeneration are actually age-related disorders which create opportunities for the development of treatment options such as medications.
Where are the investment dollars flowing?
A strong portion of the total investments by biological drug producers is at present being seen in Asian countries. The low manufacturing costs that prevail here, combined with raising transfer of pharmaceutical know-how from the West to the East, will support the growth of the market here. A recent example would be that of Swiss biotech business, Lonza, that invested a reported USD 350 million in two Asian locations – India and Singapore – to advance biological drug-related activities.
Growth drivers and restraints in the market
To a great degree, the globally market will also reap some benefits from favorable government policies, leading to possibly higher investments. Within this market, two key emerging trends are that of Genetically Modified Organisms (gmos) and Anti-Vascular Endothelial Growth Factor (VEGF).
On the restraints face, probably the biggest struggle for businesses would be the high costs associated with developing biological drugs. This challenge is usually compounded by the approaching patent expiry of certain blockbuster drugs. Besides Dream Market , there has been some speculation about negative effects of injectable drugs.