Biopharmaceuticals Market to Reach more than US$ 167 Billion by 2015

Nov. 17, 2010 - PRLog -- Rockville, MD, Marketwire - MarketResearch.com has announced the addition of IMARC’s new report “Global Biopharmaceutical Market Report (2010-2015)” to their collection of Biopharmaceuticals market reports.  For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2849563

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 stage 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 biopharmaceutical, however, represents a very risky proposition and out of every ten drugs that enter the clinical phases, only three manage to gain market approval. But the industry’s US$ 92 Billion figures and double digit growth rates in the last five years are a testimonial to the fact that the ones that finally do get approval represent goldmines for investors.

Although factors such as 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 the high potency and ability of biopharmaceuticals to attack targets beyond the reach of traditional small molecule drugs gives the industry a huge scope for future growth. A rich late stage pipeline and the growth of emerging markets are also expected to be major drivers for growth in the next five years. IMARC expects the global biopharmaceutical market to reach level of sales figures worth more than US$ 167 Billion by 2015.

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