Infinium Global Research has added a new report on Global Biological Drugs Market. The report predicts the market size of Biological Drugs is expected to reach XX billion by 2023.
The global biological drugs market is projected to reach USD X.xx billion by 2023, growing with a CAGR of 10.0% to 10.5% from 2017 to 2023. Biological drugs accounts for nearly 20% of overall drugs sold across the world and its share is increasing progressively. Biologics are manufactured by utilizing recombinant DNA technology within in animal cells, human cells, microorganisms or plant cells. Allergenics, blood components, gene therapies, insulin, plasma therapies, somatic cells, and tissues are also forms of biological drugs. Biological drugs are effective for the treatment of illnesses such as AIDS, asthma, Alzheimer’s, anti-inflammatory diseases, cancers, Cohn’s disease, multiple sclerosis, psoriasis, psoriatic arthritis, rheumatoid arthritis and various cancers. Against psoriasis, biological drugs function by blocking the immune system processes, which can create the inflammation. In the case of rheumatoid arthritis, biologics made from the proteins in the body act against the effects of the TNF proteins produced by the immune system. Overdose of TNF proteins can make the immune system of the body to attack some body parts and cause pain, stiffness as well as swelling of the joints.
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Increasing geriatric population in the world is driving the growth of the biological drugs market, as there is increasing requirement for effective medicines for various illnesses affecting old age people. Increasing number of patients with cancer, diabetes and other major chronic illnesses are expected to drive the growth of the biological drugs market during the forecast period. Biological drugs are more effective than respective chemical and other alternative medicines for several complex chronic illnesses. Hence, the biological drugs market is anticipated to attain significant growth in demand, despite the high cost of the products. The investments in research and development of biological drugs and innovation in manufacturing of biologics are anticipated to yield more products during the forecast period. Moreover, the promotional activities by various health organisations and policies by governments to make biological drugs affordable for the treatment of chronic illnesses are expected to enhance the growth of the global biological drugs market. Furthermore, the health regulatory policies with restrictions on chemical drugs with severe side effects and the improving healthcare services in various countries are expected to enhance the growth of the global biological drugs market.
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Companies Profiled:
• AbbVie Inc,
• Amgen Inc,
• Bristol-Myers Squibb,
• Biogen Idec,
• Hoffman-La Roche AG,
• Johnson & Johnson,
• Lilly,
• Merck & Co Inc,
• Novartis ,
• Novo Nordisk ,
• Pfizer Inc,
• Sanofi SA
Key Topics Covered:
1. Preface
2. Executive Summary
3. Global Biological Drugs Market Overview
4. Global Biological Drugs Market Analysis, by product type 2017 – 2023
5. Global Biological Drugs Market Analysis, by Region 2017 – 2023
6. Company Profiles
To browse full report: https://www.infiniumglobalresearch.com/healthcare_medical_devices/biological_drugs_market