A demand for biologics in the United States is expected to grow 6.5% per year to $102 billion in 2015, driven by shifts in production technology and an expansion in the number of targeted diseases.
A new study from The Freedonia Group, Inc. shows new biologics are being developed for the treatment of cancer, diabetes and other serious medical conditions, many of which are seeing their incidence rise in the U.S. population. While growth in market value will slow from the double-digit advances registered during the past decade, this is primarily a function of restrained pricing which will mask to some extent continued robust gains in market penetration. The introduction of biosimilars into the U.S. market is expected to contribute to both of these trends.
The recent introduction of recombinant DNA technology has allowed manufacturers to develop a wide range of new products with specific applications. Of more than 40 brand-named monoclonal antibodies currently available in the United States, 26 have received FDA approval since 2000. These products have established themselves as effective therapies for many forms of cancer, macular degeneration, rheumatoid arthritis and other diseases. New antibodies are under intensive investigation, and are expected to be introduced to market during the forecast period.
The research is reported in Biologics.
Release Date: Oct. 4, 2011
Source: The Freedonia Group, Inc.