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Inspite of the Inclement Effects of the Healthcare Reform Bill, Global Pharmaceutical Market Is Expected to Mature to $220 billion by 2016
Biopharmaceutical market, worldwide, is set for high growth. 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, along with 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 bio-pharma 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 forecast till 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 hampering it.
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:
Proteins, enzymes and hormones
Gene and cell therapies
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 U.S. market size for the base year 2009.
Further, 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.
This report on the biopharmaceutical reports offers insights and recommendations for the biopharmaceutical Industry and the US Medical Insurance industry. According to Ayan Bagchi, AVP Business Development Sun Knowledge, ¡°This report provided me with the key business intelligence specs, that has 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 as compared to similar reports by many competitive firms.¡±
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