A report, now available on ASDReports, predicts that the worldwide biological drugs market will be worth $248.2 billion in 2020. That revenue forecast and others appear in Biologics Market Trends and Forecasts 2016-2026: Evaluation of Therapeutic Segments Including Monoclonal Antibodies, Insulin, Fusion Proteins, Interferons and Gene Therapies; Prediction of Leading National Markets (US, Japan, EU5 and BRIC); Investigation of Top Products Including Humira, Remicade, Lantus and Enbrel; and Assessment of R&D Including Sirukumab and NurOwn.
Arshad Ahad, a senior pharmaceutical industry analyst, said:
“Biologics are crucial for the treatment of many serious chronic disorders such as cancer, diabetes, hepatitis and autoimmune diseases. These effective but highly complex therapies come at a price, with some treatments costing more than $75,000 a year. They are able to generate multi-billion dollar revenues, with biologics representing eight out of the top ten best-selling drugs in 2015."
“The emergence of biosimilars is set to disrupt this market - although they can be a positive or a negative influence, depending on how companies adapt to their presence. Patents on many leading biologics are due to expire during the forecast period of our report, and payers are eager to cut costs in the face of declining healthcare budgets. As such, this is a crucial period in the history of the global biologics market, one which will determine its long term future.”