The Global Pharmaceutical Market is Expected to Mature to $220 Billion by 2016, in Spite of the Inclement Effects of the Healthcare Reform BillBy Marketsandmarkets, PRNE
Monday, January 31, 2011
Biopharmaceutical Market Worldwide is Set for High Growth.
DALLAS, February 1, 2011 - The US biopharmaceutical market which has previously contributed 60% of
world market share will witness a sudden growth spurt, triggered by a spate
of policy changes, grants and the recent Health Care Reform Bill and AARC.
However, as the rest of the world (ROW) markets are also set for high
growth and hence the overall contribution of US market share in the world
market will decrease. FDA's approval of more biopharma drugs into the market
and the impact of expansion of therapeutic indications from existing products
will also add to the biopharma market growth. The market will soon lose its
clear-cut demarcation from the bionanotechnology product market with more
companies looking to fuse and integrate biological components with this
market segment. The analytical report, Strategic Analysis & Forecast of US
Biopharmaceutical Industry (2009-2016): Impact of Healthcare Reform,
Technological Innovation & Market, comprehensively investigates the global
biopharmaceutical market - its growth factors, features, size, trends,
services, tools, opportunities, restraints, drivers and product pipelines of
some of the major pharmaceutical companies, while simultaneously drawing
parallels with the US pharmaceutical market.
While the report looks at the entire market size and forecasts until
2016, its key focus is the increasing role of biopharmaceutical products. The
growing interest in biotechnology development has led to the metamorphosis of
the pharmaceutical industry to biopharmaceuticals. The global
biopharmaceuticals market, in 2009, was $106 billion, which is forecasted to
grow with a CAGR of 11.2% by 2016. The US biopharmaceuticals market alone was
$68 billion, in the same year. Further growth of this market will be fueled
by approval of new products. In fact, new classes of biopharmaceuticals are
expected to be launched during the forecast period, which will drive growth.
Moreover, biosimilars/follow-on drugs, with similar functionality, will
become easily available and accessible at the later end of the forecast
period, depending on whether an easier pathway for approval is established or
not. These factors, coupled with high demand for biopharmaceuticals and more
elderly patient population joining Medicare/Medicaid, are expected to allow
the US market to continue to grow throughout the forecast period. However,
financial crisis, induced by countless debts, has put the US healthcare
system at stake. The US Government's conscious efforts towards
cost-containment may impinge on the consistent market growth, eventually
The report primarily segregates the biopharmaceuticals market into the
following segments in terms of the drug/product classifications. This also
broadly determines the therapeutic application segments for this industry:
Antisense therapies Cytokines Proteins, enzymes and hormones Gene and cell therapies Monoclonal antibodies Vaccines Others: Including blood and allergenic components and some related bionanotechnology product such as Abraxane by Celgene acquired Abraxis Biosciences Inc., CA, USA.
In each of these market segments, a brief background is included. The
report also includes total global market revenue forecasts, with US market
size for the base year 2009.
Furthermore, this report forecasts revenue for all the individual
product/drug class segments. The other segment includes biopharmaceuticals
such as blood and allergenic factors and components.
The report offers insights and recommendations for the biopharmaceutical
industry and the US medical insurance industry. Ayan Bagchi, AVP Business
Development Sun Knowledge said: "This report has provided me with the key
business intelligence specs, that have helped me refine my understanding of
the state of the PDP industry and has greatly helped me in determining
strategic goals for my company. I have found this report to be more in-depth,
compared to similar reports by many competitive firms."
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