Global Biological Drugs Market 2022 Global Trends, Market Share, Industry Size, Growth, Sales, Opportunities, and Market Forecast to 2024

New York, United States, 2022-Jun-09 — /EPR Network/ —

Global Biological Drugs Market is expected to grow by the year 2024 at a CAGR of 10.1%. Healthcare systems have been basically emphasizing on affordability as well as quality of the medical services. However, now, digitization has come through, which would drive revolution in the same healthcare vertical. The life sciences would go digitally innovative. This would be the way healthcare vertical would go in the next 10 years.

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.

Get Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/2883

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.

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.
• Other

Request for Methodology@ 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.

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.

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..

Access Full Report@ https://www.persistencemarketresearch.com/checkout/2883

The global biological drugs market is segmented as follows:

By therapeutic protein

• Enbrel
• Lantus
• Neulasta
• Avonex
• NovoLog
• Rebif
• Humalog
• Aranesp
• Epogen
• Levemir
• Victoza
• Betaseron
• Neupogen
• Eylea

By monoclonal antibody (mAb)

• Humira
• Remicade
• Rituxan
• Avastin
• Herceptin
• Lucentis

By vaccine

• Prenvar 13
• Gardasil
• Fluzone
• Varivax
• Cervarix

By geography

• North America
• Europe
• Asia
• Rest of the World (RoW)

About us: Persistence Market Research

Contact us:

Persistence Market Research          
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com