The report on Biological Drugs Market by roduct Type (therapeutic protein -levemir, neulasta, eylea, novolog,
enbrel, avonex, neupogen, humalog, victoza, lantus, epogen, aranesp; monoclonal antibody - avastin, humira,
remicade; vaccine - gardasil, prenvar 13, fluzone) trends analysis and forecasts up to 2023 studies the market
sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest
of the World. According to the report the Global Biological Drugs Market is projected to grow at a CAGR
between 10.0% to 10.5% in terms of value over the period of 2017-2023. The growth in the world market is
primarily driven by significant contribution by North America (Leading region) region to this market.
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.
The expiry of patents of many biological drugs provides opportunity for low cost biosimilars and other
biological pharmaceutical companies to manufacture alternative drugs. Higher cost of manufacturing and the
higher selling price of biological drugs give biosimilars and other alternatives the price advantage. Severe side
effects related to injectable type of biological drugs is a restraint to the expansion of the market. The
complexity of manufacturing of biological drugs is a major challenge for the global biological manufacturers,
Infinium Global Research