SOURCE: MarketResearch.com

MarketResearch.com

October 25, 2010 10:16 ET

Biotechnology Pharmaceutical Market to Grow 7.7% Annually Through 2013

ROCKVILLE, MD--(Marketwire - October 25, 2010) -  MarketResearch.com has announced the addition of Infiniti Research Limited's new report "Biotechnology Pharmaceutical Market in US 2009-2013" to their collection of Research & Development market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2807489

The 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 favor of biotechnology drugs are encouraging more companies to invest in the field
  • Increasing aging 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's 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. Also included is comprehensive analysis of various trends and changes taking place in the Biotechnology Pharmaceutical market in the US.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2807489

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