Global Biological Drugs Market to Reach US$287 bn by 2020, Increasing Prevalence of Chronic Diseases Drives Growth A research study, recently published by Transparency Market Research (TMR) estimates the global biological drugs market to expand at a healthy CAGR of 10.1% over the period from 2014 to 2020 and reach US$287.14 bn by the end of the forecast period. The research report, titled “Biological Drugs Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,� states that the worldwide biological drugs market reached a value of US$161.05 bn in 2014. A biological drug or a biopharmaceutical is a pharmaceutical product, which is produced in, or extracted, or semi-synthesized from biological sources such as micro-organisms, or plant cells, or animal cells. Biological drugs have relatively large and complex structures compared to their traditional counterparts. A conventional drug goes through around fifty in-process tests, whereas a biological drug undergoes approximately two hundred and fifty in-process tests throughout its development process. According to the study, the increasing incidence of diabetes, cancer, and other chronic diseases across the world is the key driving force behind the growth of the worldwide biological
Global Biological Drugs Market to Expand at a CAGR of 10.1% to 2020
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