As new breakthroughs are made in the biomedicine segment, development is also anticipated in the biological prescriptions market. Based on U.S. based market analysis firm Persistence Market Research, this particular market will report a ten % CAGR from 2014 through 2020, and will be really worth USD 287.13 billion by 2020.
Segments within the worldwide market
The global biological drugs market can be broadly classified as: vaccines, therapeutic protein, and 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 split into: Remicade, Humira, Rituxan, Herceptin, Avastin, and Lucentis . And, the portion for vaccines can be sub-segmented as: Cervarix, Gardasil, Varivax, Prevnar 13, and Fluzone .
Global market by geography
The industry for biological drugs can be classified and also studied on the basis of geographical regions. Thus, the market can be split into: North America, Europe, Asia Pacific, and Rest of the World. By market share, North America emerges when the dominant region. It’s followed by Asia and Europe.
In North America, the international market is fuelled by the expanding use of such medicines for treating chronic conditions as well as cancer and diabetes. A case in point would be the American College of Rheumatology’s recommendation of illness modifying antirheumatic medicines also as biologic agents in treating rheumatoid arthritis in 2012. The American College of Rheumatology is an organization focused on advancing treatment options for rheumatic conditions via research and education.
In other markets like Europe, the progression of the market can be ascribed to a spike in the geriatric population. A report by the United Nations states that as of 2000, the aged comprised 23.2 % of the total population of Germany. This percentage might well scale to 33.2 % by 2025. Dream Market and glaucoma are actually age related disorders which create opportunities for the improvement of therapy options such as medications.
Where are the investment dollars moving?
A strong portion of the overall investments by biological drug producers is now being seen in Asian nations. The low manufacturing costs that prevail here, mixed with growing transfer of pharmaceutical know-how from the West to the East, will help support the growth of the market here. A recent case in point would be that of Swiss biotech business, Lonza, which invested a reported USD 350 million in two Asian locations – Singapore and India – to advance biological drug related activities.
Growth drivers as well as restraints in the market
To a great degree, the worldwide sector will also benefit from favorable government policies, leading to perhaps higher investments. Within this particular market, two key emerging trends are that of Genetically Modified Organisms (Anti-Vascular Endothelial and gmos) Growth Factor (VEGF).
On the restraints face, probably the biggest challenge for companies will be the high costs associated with building biological drugs. This challenge might be compounded by the approaching patent expiry of certain blockbuster drugs. Besides these impediments, there has been some speculation about negative results of injectable drugs.