Biopharmaceuticals are drugs produced from genetically modified source, which are mainly proteins and nucleic acids. According to IMS Health Market Prognosis, the total market size of pharmaceutical industry was approximately $962.1 billion in 2012. The market for the biopharmaceuticals drug was $149 billion in 2010. The factors driving the market are, increase in regulatory approvals for biotechnology products. One such product is the recombinant DNA-based products, which has high rates of approval from regulatory authorities. The opportunities of this market are the ageing population and increase in the number of diseases. The challenges of this market are the reimbursement and pricing policy that are the limiting factors in the launch of high priced drugs.
Key player profiled in the report are Pfizer, Inc., Ranbaxy Laboratories Ltd., Roche Holding AG, Abbott Laboratories, Inc., Bayer AG, Biocon Ltd, Eli Lilly and Company, Genentech, Inc., GlaxoSmithKline, PLC. Johnson & Johnson, Inc., LG Life Sciences and Novartis AG
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