Biological drugs or biologics are medications which are derived from living systems such as animals, humans, or microorganisms. The biological drugs market provides different medications for treatments of disorders such as cancer, auto-immune diseases, blood-related diseases, and other medical conditions. Compared to synthetic drugs, these medications are highly sensitive, expensive, and difficult to produce.
Biological Drugs Vs. Synthetic Drugs:
A biological drug conventionally has over around 250 in-process tests during manufacturing, while synthetic drugs have around 50 in-process tests. Even though, the market of biological drugs faces many challenges such as production and cost compared to synthetic drugs, it demonstrates great potential for treatment of many complex diseases. According to the Biologics 2013 Report on phrma.org, many biopharmaceutical research companies in America are using biological processes to produce 907 medicines and vaccines which are targeted towards over 100 diseases. These biologics are pushing the frontiers of science to create new treatments for the most challenging medical conditions.
According to Persistence Market Research,(http://www.persistencemarketresearch.com/) a leading U.S.-based market research company the global biological drugs market is estimated at US$1,61,056.5 million in 2014 and is anticipated to grow at a compound annual growth rate of 10.1% during the period of 2014 to 2020 and reach a value of US$2,87,139.7 million by 2020.
Biologics Drugs Market Determinants:
The global biologics drugs market is driven by factors such as the increasing prevalence of chronic diseases. The increasing geriatric population, especially in Europe has in turn increased the demand for biological drugs further boosting the biologics market. A report from UN states that 23.2% of the total German population in the year 2000 consisted of elderly population and this number is expected to grow to 33.3% in 2025. Many government organizations are promoting the use of biologics which further supports the growth of this market. Advancement in biomedical science around the world holds massive potential for the growth of the biological drugs market. Anti-vascular endothelial growth factor (VEGF) therapy and genetically modified organisms (GMOs) are gaining significant importance in the biological drugs market.
Global Biologics Drugs Market Outlook:
Geography-wise, North America dominates the global biological drugs market share which is followed by Europe and Asia. The use of biologics for treatment of chronic diseases such as cancer and diabetes are adding to the growth of the biological drugs market in the North American region. Recommendations from major organizations such as the American College of Rheumatology for the use of biologic agents in treatment of medical conditions further support the North American biological drugs market growth.
Browse Biological Drugs Market Report With Fulll TOC: http://www.persistencemarketresearch.com/market-research/global-biological-drugs-market.asp
Even though, Asia is attracting many biological drugs manufacturers, the North American region remains the largest market for biological drugs. According to research analysts North America will witness the highest growth by 2020 in the global biological drugs market. Major players in the market of biological drugs include Roche Holding AG, Pfizer Inc., Novartis AG, Abbott Laboratories, Eli Lilly and Company, Bristol-Myers Squibb Company, GlaxoSmithKline plc., Amgen Inc., Merck & Co., Biogen Idec., and Baxter International.
Roche was the leading biological drugs company in terms of sales in 2013, which was followed by Amgen and Novo Nordisk. In 2013, Roche invested around US$877 million in four facilities to boost the production of biologic therapies worldwide. Apart from Roche, many other companies around the world in the biological drugs market are investing millions of dollars to fuel R&D efforts to bring forth revolutionary biologic medications and therapies to treat the most challenging diseases.