(PharmaNewsWire.Com, February 01, 2017 ) According to the report Asia Pacific Bio Pharmaceuticals market, published by Market Data Forecast, the market is projected to reach USD 49.5 Billion by 2021, at a CAGR of 10.05 % from 2016 to 2021.
Biopharmaceuticals industry has come a long way since approval of its drug. It is a drug which is extracted from the semi synthesized or biological sources. Now, a numerous drugs have already been accepted and many more are in final stages of their clinical trial. These drugs have not only innovated the prevention and treatment of a number of life threatening diseases but have also entrusted for the continuous achievement of the pharmaceutical industry.
Increase in the healthcare expenditure, increasing awareness relating to biopharmaceutical drugs and emerging aging population are the factors driving the growth of the market. Ability of these drugs to cure the chronic diseases which were previously incurable and the demand is increasing extremely and also enhances the profit margin for manufacturers.
Merck & Co., Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, Inc., Sanofi, Amgen Inc., AbbVie Inc., Biogen Idec, Bayer AG, Johnson & Johnson Services, Pfizer, Inc., and Novartis AG are some of the leading players in the market for biopharmaceuticals.
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