Biological drugs are biological medical products whose active drug substance is extracted by using living organism. The active substance is derived from living organism by the usage of recombinant DNA technology. These drugs offer better treatment solutions than synthetic drugs owing to greater accuracy and fewer side effects. Biological drugs are mainly made of monoclonal antibodies (mAbs) that help to fight with the disease. Monoclonal antibodies have the capability of targeting specific area in the body that requires drug treatment hence producing accurate results. Majorly biologic drugs are given for the treatment of diseases such as HIV/AIDS, Alzheimer’s diseases, cancers and others. Moreover, biologic drugs are also expected to find a solution for the large portion of retired population which is more prone to chronic diseases.
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Global biological drugs market is growing at substantial rate owing to the drug accuracy and increase in chronic diseases. In addition, biologic drugs have shown a better outcome in long term and offer a better quality of life. There are approximately 150 biologic drugs commercially available in the markets which are being used to treat diseases such as asthma, irritable bowel syndrome, rheumatoid arthritis, cancer and others. For example, Avastin for the treatment of lung cancer and Cerezyme for Gaucher disease are commercially available and cost about USD 100,000 and USD 300,000 per year respectively. However, half of the biological drugs are about to lose their patent protection and as a result cheaper alternative biogeneric products are expected to enter in to the market. On the contrary, cost of the biologic drugs is one the major restraining factor for the growth of this market. Biologic drugs are costly as compared to other drugs but are likely to become cheaper in near future. Owing to the potential benefits of the biologic drugs they have been put on fast track FDA approval process.
Some of the key players engaged in the manufacturing of biological drugs are Abbott Laboratories, Amgen Inc., Baxter International, Inc., Genzyme Corporation, Pfizer Inc., among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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