Hong Kong, Hong Kong S.A.R., November 16, 2010 --(PR.com
)-- Biotechnology Pharmaceutical Market in US 2009-2013 report by Technavio Insights forecasts the Biotechnology Pharmaceutical market to grow at a CAGR of 7.7 percent, with Blood Modifiers accounting for the largest share of the market at 36.3 percent.
The major growth drivers include:
- Increasing demand for biotechnology drugs with enhanced efficiency, safety and popularity
- Revision of regulations and standards in favour of biotechnology drugs are encouraging more companies to invest in the field
- Increasing ageing population and the prevalence of chronic and age related illnesses is also driving the demand for biotechnology pharmaceuticals
However, the market is faced with some challenges which can inhibit the growth, such as the increasing healthcare expenditure in the US. Many biotechnology pharmaceutical companies are facing cost containment pressure. Lack of technical development and expertise is an issue as these companies need to employ highly skilled medical professionals.
For the purpose of this report, the Biotechnology Pharmaceutical market refers to drugs, medicines or vaccines developed through biotechnology such as recombinant DNA technology, combinatorial chemistry, gene therapy, and monoclonal antibodies. The report analyzes Biotechnology Pharmaceutical market£ªs recent performance and provides the US market revenue and growth rates from 2009 through to 2013. It also provides detailed market segmentation based on the type of disease the drugs are formulated to treat or based on therapeutic class. The report includes comprehensive analysis of various trends and changes taking place in the Biotechnology Pharmaceutical market in the US.
It also explains the factors influencing market growth and also inhibitors preventing their adoption. The report provides basic profiles of some of the leading vendors in the market.