In a recent published report, Kenneth Research has updated the market report for Biological Drugs Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Biological Drugs Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Biological Drugs Market is estimated to reach $394 billion by 2024; growing at a CAGR of 10.3% from 2016 to 2024. Biological drugs are products manufactured by using microorganisms or plants or animal cells and are used for prevention, diagnosis and treatment of several diseases. These drugs are derived from several range of animals, humans or microorganisms by using biotechnology. For a positive outcome, biological products must remain persistent by quality and purity throughout the procedure. They are highly sensitive and can cause variations in the product even due to very minute changes during the process. Thereby, biologics must be produced under very controlled environment to ensure predictable results. Biological drugs are greatly used for the treatment of several serious and chronic illnesses such as cancer, ulcerative colitis, rheumatoid arthritis and other autoimmune diseases.
Increasing government initiatives supporting the development of biological drugs, rapid increase in geriatric population, growing commonness of chronic and lifestyle diseases and increasing investments on R&D are the factors boosting the growth of the global biological drugs market. Moreover, reduced price of drugs and technological advancements would provide several market opportunities in coming years. Though, adverse effects and high costs of these drugs might hamper the growth.
The global biological drugs market is segmented into product type and geography. By product type, the market is segmented into monoclonal antibody (Humira, Rituxan, Avastin, Lucentis, Remicade, Herceptin, And Others), therapeutic protein (Neulasta, Enbrel, Lantus, Avones, Novolog, Aranesp, Rebif, Humalog, Epogen, Victoza, Neupogen, Levemir, Betaseron, Eylea And Others), and vaccine (Prevnar 13, Varivax, Fluzone, Gardasil, Cervarix, And Others).
By geography, the market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, Mexico are covered under North America wherein Europe covers UK, Germany, France Italy, and others. Asia-Pacific covers China, Japan, India, South Korea, and others. RoW covers South America, Middle East, and Africa.
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They key companies operating in this market include Amgen Inc., Baxter International Inc., Eli Lilly and Co., Merck & Co., Inc., Bristol-Myers Squibb Company, Biogen Inc., GlaxoSmithKline Plc, Novartis AG, Pfizer Inc., and Abbott Laboratories, among others.
The key takeaways from the report:
The report will provide a detailed analysis of Global Biological Drugs Market with respect to major segments such as product type and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Global Biological Drugs Market from 2015 to 2024 has been included in the report. Profile of the key players in the Global Biological Drugs Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of the Global Biological Drugs Market:
Product Type Segments
Monoclonal Antibody
Humira
Rituxan
Avastin
Lucentis
Remicade
Herceptin
Others
Therapeutic Protein
Neulasta
Enbrel
Lantus
Avones
Novolog
Aranesp
Rebif
Humalog
Epogen
Victoza
Neupogen
Levemir
Betaseron
Eylea
Others
Vaccine
Prevnar 13
Varivax
Fluzone
Gardasil
Cervarix
Others
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Geography Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Other
Asia-Pacific
India
China
Japan
South Korea
Others
RoW
South America
Middle East
Africa
About Kenneth Research
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