NEW YORK--(BUSINESS WIRE)--Persistence Market Research has released a new report on the global biological drugs market, making a positive prognosis for the biological drugs market due to increasing demand from North America. Titled ‘Global Market Study on Biological Drugs: North America to Witness Highest Growth by 2020,’ the report predicts that the global biological drugs market will reach a value of US$287,139.7 million by 2019. It is expected to grow at a relatively strong CAGR of 10.1% from 2014 to 2020 upon its 2014 value of US$161,056.5 million or US$161.056 billion.
Three categories of the biological drugs market are analyzed in detail: therapeutic proteins, mAb, and vaccines. Forecasts are made for markets of therapeutic proteins such as Enbrel, Avonex, Novolog, Betaseron, Humalog, etc.; various types of mAb such as Remicade, Avastin, Humira, etc.; and various vaccines such as Fluzone, Gardasil, Prenvar, etc.
The increase in the spread of chronic diseases all over the world is a major driver for the global biological drugs market; the increasing population of geriatric citizens is a driver linked with it. Increasing support from numerous governments for biological drugs is also expected to drive the global biological drugs market.
All three of these drivers for the growth of the global biological drugs market can be found in developed and populous regions such as North America and Europe. This makes these the prime market for biological drugs. Rising demand from North America is expected to drive the global biological drugs market in the report’s forecast period, with increasing governmental support in the Asia Pacific region bringing the most populous region in the world to the fore.
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The report profiles major biological drugs manufacturers such as Pfizer Inc., Abbott Laboratories, Eli Lilly and Company, Bristol-Myers Squibb Company, Novartis AG, etc.
Pharmaceuticals Market Research: http://www.persistencemarketresearch.com/category/pharmaceuticals.asp
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