The global biopharmaceuticals market is set to exhibit a CAGR of 7.83% during 2019-2026 and is estimated to reach a market value of US $ XX billion by 2026.
Biopharmaceuticals are large and complex molecular drugs that are mainly obtained from proteins and nucleic acids of living organisms such as microorganisms and animal cells also known as transgenic organisms. These drugs are obtained using biotechnology and have high-therapeutic value. Biopharmaceuticals are also known as biologics and biotech drugs and are usually administered by intravenous, subcutaneous, or intramuscular injections and are more efficient than the conventional small molecule drugs. Biopharmaceuticals are an alternative to the previously less effective and sometimes unsafe treatments and offer several benefits. Biopharmaceuticals benefits include highly effective and potent action, fewer side effects, can be tailored according to specific medical requirements of patients and they hold the potential to actually cure diseases at the root level. Biopharmaceuticals have reduced the number of deaths due to cancer and HIV/AIDS in the past decade and have changed the treatment of several chronic diseases, such as diabetes and cardiovascular diseases.
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