Biological Drugs Market is Rising to a Valuation of US 287.1 bn in 2020

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The global biological drugs market is anticipated in a report by Transparency Market Research (TMR) to gain immensely from billions of dollars of investment from pharmaceutical companies attracted to lucrative business opportunities available in biologics. In order to take large strides in their market and the prime mover advantage, pharmas such as Bristol-Myers Squibb and Eli Lilly and Company have already made massive biologics investments. Biopharma-related partnerships are said to involve colossal amounts of money, where the acquisition of Baxalta by Shire at a US$32.00 bn is considered to have topped such types of deals singlehandedly. With a view to add a blockbuster drug to its cancer pipeline, Pfizer acquired Medivation for a US$14.00 bn.
TMR projects the global biological drugs market to be valued at a mammoth US$287.14 bn by the completion of 2020. By therapeutic protein, the market could witness the rise of Enbrel since it had secured massive demand in the recent past. On the basis of region, North America is foreseen to lead the market in the near term.
Increasing Incidence of Cancer and Diabetes Fuels Demand for Biological Drugs
The world biological drugs market is predicted to gain momentum with rising prevalence of chronic diseases such as cancer and diabetes across the globe. Demand for biological drugs could swell with the expansion of geriatric population at the global level. Currently growing inclination toward adoption of personalized medicines and strong research and development efforts taken to introduce new and powerful biological drugs are foretold to set the tone for a significant rise in demand.
In China and the U.S., the concept of cost-effective production is largely upheld by the governments with their supportive initiatives. The momentum is expected to increasingly shift in the favor of in vitro production due to benefits such as time and cost-efficiency.
Stringent Regulations and Manufacturing Procedures Upset Market Growth
The international biological drugs market is envisaged to grow at a handsome rate in the next few years. However, it could face challenges in the form of various product parameters, strict regulatory pathways and manufacturing processes, and longer product approvals, although biological drugs have historically shown better approval rates than conventional ones. Additionally, small players could find it difficult to enter the market because of the requirement of high capital expenditure.
Nevertheless, companies could make their presence known in the international biological drugs market by developing new vaccines for severe infections such as those caused by C. difficile and Meningococcal B. The market could also offer rewarding prospects on the back of vaccination programs sponsored by governments. This scenario could be particularly taken notice of in Australia and India. Enormous venture capital investment in biotechnologies is envisioned to create profit-making opportunities in the market.
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