The global biopharmaceuticals market is suggested to have reached a value of around $199.7 billion at the beginning of 2013, and is forecast to grow to a total of $497.9 billion by 2020. This suggests a CAGR of around 13.5% between 2010 and 2020. Among different product segments, monoclonal antibodies (moAb) constitutes the largest product segment in the global biopharmaceuticals market accounting for an estimated share of 25.6% in 2013, equating to US$51.1 billion. In terms of therapeutic area, neurology applications is the largest market for global biopharmaceuticals with an estimated 2013 share of 28.2% valued at US$56.3 billion, and further expected reach a projected US$144.5 billion by 2020.
The pharmaceutical R&D pipeline and industry have been witnessing greater degree of dependence on biopharmaceuticals. Development of these products is being undertaken by a growing number of players in the pharmaceutical industry, which include the big pharma companies as also generic drug manufacturers, who are also engaged in developing biosimilars.
In conjunction with the traditional small biopharmaceutical companies, the new bigger entrants have been focused on continually expanding the global biologics pipeline, implying that the number and proportion of new pharmaceuticals being commercialized would increasingly comprise biopharmaceuticals and not small molecule drugs. As the cost of developing biopharmaceuticals and bringing them to market is generally much higher, offering enhanced profit margins, it comes as no surprise that the global pharmaceutical industry would continue to rely on biopharmaceuticals for profits and innovation, in addition to its very survival.For more information on the Global biopharmaceuticals market, please click here: Global biopharmaceuticals market
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