Albany, New York (PRWEB) July 25, 2014
According to a new market report published by Transparency Market Research, "Biological Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020," the global biological drugs market is estimated at USD 161,056.5 million in 2014 and is expected to grow at a CAGR of 10.1% from 2014 to 2020, to reach an estimated value of USD 287,139.7 million in 2020.
The biological drugs market is witnessing a significant growth due to the increasing prevalence of chronic diseases and increase in the global geriatric population. Biological drugs are used in treatment and prevention of various diseases such as cancer, blood-related diseases, auto-immune diseases and other medical disorders. Moreover, various government associations are also promoting the usage of biological drugs. Furthermore, advancement in biomedical sciences holds immense potential for the growth of the biologic drugs market.
Title: Biological Drugs Market
Published: 01 July 2014
Price: US$ 4,795.00 (Single User)
For further inquiries, click here: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1694.
On the other hand, high cost of biological drugs and patent expiry of blockbuster drugs impede the growth of the market. Moreover, the risk of adverse effects associated with biologic injectable drugs is also one of the key restraints of the market. As a result, biological drugs market is expected to grow a CAGR of about 10.1% during 2014-2020.
North America is the largest market for biological drugs. Increased use of biological drugs for the treatment of diseases such as canc
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