TheBiotech industry in the United States has witnessed a concern relating to high costs of drugs, which has prompted the medicine makers to look for biosimilar versions in the market. According to a new report “US Biotech Market Analysis”
by RNCOS, the regulatory scenario in the country has been improving with respect to biosimilars. Efforts are being made to create a proper regulatory pathway for biosimilar approval. The future for this segment in the US biotech industry seems highly promising.
Several factors have been fuelling growth in the US biotechnology sector, which has been expanding on account of technological innovations, extensive R&D, research grants, government support, and public and private investments amongst others. In 2010, the US biotech industry reached the mark of US$ 349 Billion. The industry is expected to post significant profits in the coming years, with investments and innovations by major players widening. In near future, the market is expected to grow at the CAGR of around 9%.
The 65 page research report by RNCOS analyzes the current and expected status of the US biotechnology market. It facilitates the forecasts on the Global and US Biotech market while providing an insight into the performance of various sectors. Detailing an overview of the emerging sectors in the country’s biotechnology industry, the report presents information on the funding patterns. Developments in the country’s several bio-clusters and the profiles of key market players have also been included in the report to portray a complete picture of the industry.