Global Biopharmaceutical Market to Exceed USD 166 Billion by 2017

Oct. 29, 2012 - PRLog -- The global biopharmaceutical Industry has come a long way since its first drug - Humulin was approved in 1982. Today more than three hundred biopharmaceuticals have already been approved and many more are in late stages of clinical development. These drugs have not only advanced the prevention and treatment of a number of life threatening diseases, but have also provided the thrust for the continued success of the pharmaceutical industry.

Under mounting economic pressures to increase their outputs, pharmaceutical manufacturers have embraced biopharmaceuticals as a means to maintain flow in their drying pipelines. Bringing a iopharmaceutical, however, represents a very risky proposition as out of every ten drugs that enter the clinical phases, only three manage to gain market approval. But the industry’s USD 109 Billion figures and double digit growth rates in recent years bears a testimony to the fact that the ones that finally do get approval represent goldmines for investors.

Although factors like biosimilar entry and cost containment in the developed markets are likely to restrain the growth of this market in the coming years, IMARC expects that with their high potency and ability to attack targets beyond the reach of traditional small molecule drugs, biopharmaceuticals provide the industry with a huge scope for future growth. A rich late stage pipeline and increasing demand in emerging markets are also expected to be major drivers in the coming years. IMARC expects the global biopharmaceutical market to exceed sales worth USD 166 Billion by 2017.

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IMARC Group Asia
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IMARC Group Europe, Middle East & Africa
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Phone: +44-702-409-7331

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