Biopharmaceuticals Global Market to Grow by Robust 13.5% (2010-2020) to Reach $498 Billion by 2020
Industry Experts, a multi industry focused market research firm, has unveiled the 2013 version of ‘ Biopharmaceuticals – A Global Market Overview ’. As per the new report 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 addition, monoclonal antibodies (moAb) are forecasted to record fastest growth in reaching US$138.8 billion by 2020 at a 2010-20 CAGR of 14.9%. 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 expan...