Albany, NY, Oct. 20, 2014 (GLOBE NEWSWIRE) -- Transparency Market Research, in its latest report, states that the global biological drugs market was worth US$161,056.5 million in 2014 and is expected to grow to US$287,139.7 million by 2020 at a CAGR of 10.1% from 2014 to 2020. The report, titled 'Biological Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020', provides a historic background of the biological drugs market. According to figures mentioned in the report, the market for biological drugs was worth US$101,656.5 million in 2009 and reached a value of US$146,548.2 million by 2013 at a 9.6% CAGR during the period.
Browse full Global Biological Drugs Market report with complete TOC: http://www.transparencymarketresearch.com/biological-drugs-market.html
Biological drugs are used in the treatment and prevention of diseases such as Alzheimer's disease, HIV/AIDS, cancer, asthma, inflammatory diseases, rheumatoid arthritis, diabetes, and irritable bowel syndrome. A growing geriatric population translates into wider prevalence of various diseases. As a result, the demand for biological drugs is on the rise. Moreover, the promotion of biological drugs by government organizations and advances in the field of biomedical science hold immense scope for future growth of the biological drugs market.
Browse Press Release of Biological Drugs Market: http://www.transparencymarketresearch.com/pressrelease/biological-drugs-market.htm
North America is the largest market owing to increased use of biological drugs for the treatment and prevention of various diseases and growing government aid. The biological drugs market in Europe too has witnessed significant and rapid growth due to the same reasons. The Asian biological drugs market has been attracting numerous vendors with its low-cost biological drugs manufacturing alternatives. Furthermore, with the help of government support, the quantity and quality of R&D activities and construction of facilities in biotech companies has increased, boosting the biological drugs market in Asia.
Related and Recently Published Reports by Transparency Market Research:
- Medical Imaging Reagents Market: http://www.transparencymarketresearch.com/biologic-imaging-reagents-market.html
- Human Reproductive Technologies Market: http://www.transparencymarketresearch.com/human-reproductive-technologies-market.html
- Antibacterial Drugs Market: http://www.transparencymarketresearch.com/antibacterial-drugs-market.html
In contrast, adverse effects of biologic injectable drugs, patent expiry of leading drugs and high cost of biological drugs is expected to hamper the growth of the biological drugs market. However, these same factors hold immense potential for improvement. Costly drugs will offer opportunities to vendors to develop cheaper alternatives of biological drugs. Similarly, patent expiry of top drugs will allow new and emerging manufactures to take their place.
The report segments the overall biological drugs market on the basis of therapeutic protein, monoclonal antibody (mAb), vaccine, and geography. Among all biological drugs of the therapeutic protein segment, Enbrel has the largest and most rapidly growing market. While Prevnar 13 was the fastest-growing and largest segment among biological drugs vaccines, Humira accounted for the maximum market share of the mAb segment and was also the fastest-growing mAb.
For further inquiries, ask here: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1694
The global biological drugs market is highly competitive and there are many leading and emerging players operating in the industry. Some of the prominent biological drugs manufacturers include Baxter International Inc., Abbott Laboratories, Eli Lilly and Company, GlaxoSmithKline plc, Novartis AG, Merck & Co., Inc., Biogen Idec, and Pfizer Inc.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
CONTACT: Sheela AK State Tower, 90 State Street,Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA/Canada Toll Free: 866-552-3453 Email: firstname.lastname@example.org Web: http://www.transparencymarketresearch.com/ Blog: http://www.tmrblog.com/ Blog: http://transparencymarketresearch.areavoices.com/
Source:Transparency Market Research