Global Biologics Safety Testing Market Size to Grow at a globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
US$ 442.5 million in 2020 and is expected to exhibit a CAGR of 3.9%
during the forecast period (2020-2027).
Key Trends and Analysis:
The
MENA biologics & biosimilars market is expected to witness significant growth, owing to increasing prevalence of Age-related Macular Degeneration (AMD). For instance, according to the study in Saudi Medical Journal 2015, in Saudi Arabia, AMD represents 3.3% of the major causes of blindness in individuals older than 50 years.
The increasing approval and new drug launches are expected to propel the market growth. For instance, in 2017, Swedish Orphan Biovitrum AB (Sobi) received Saudi Food & Drug Authority (SFDA) approval for Elocta (efmoroctocog alfa), a recombinant human factor VIII Fc-fusion protein with an extended half-life, for the treatment of hemophilia A.