Rise in prevalence of target chronic diseases like cancer, increase in unhealthy lifestyle habits, mergers and acquisitions by major companies, product launches, the development of biologics with higher efficiency and favorable research funding scenario are key factors contributing to high CAGR of Biologics during forecast period.
According to the current analysis of Reports and Data, the global Biologics market was valued at 324.78 Billion in 2020 and is expected to reach 749.62 Billion by 2028, at a CAGR of 10.80%. The study covers Biologics, a drug that contains living organisms or their specific components or by-products. Biologic medicines are usually injected into the patient’s body because of its large molecular size (200-1000x) and fragile molecular structure. Parts of organisms like their cells, tissues, recombinant proteins, genes, allergens, blood or blood components, and vaccines are used in biologic drugs. Biologics are used for the treatment of various diseases and conditions like anemia, cancer, and other autoimmune diseases. Biologics are changing the ways doctors treat common conditions that have plagued individuals for years. Biologics have various potential advantages as they can, theoretically, be customized to hit specific ‘gene targets’ in the human body
AbbVie’s Humira (adalimumab) – a drug used to treat autoimmune disorders such as rheumatoid arthritis. Biologics products including those which are manufactured by biotechnology are heat sensitive and susceptible to contamination. Hence, it is essential to maintain aseptic condition from initial manufacturing process till the end of the production, Biologic drugs have witnessed a significant success rate, notably in cancer and autoimmune diseases. The new developments in the field of immunotherapies, gene and cell therapies, and antibody-drug conjugates, will contribute to the expected growth of biologics in the next upcoming future. Biologics are mostly to continue their growth trend with more innovative technologies and therapies coming to the market. In some therapeutic areas treatment with biologic is quite significant, especially in high-income countries. The momentum of new biologic launches is likely to continue for some time into the future. Rise in prevalence of target chronic diseases such as cancer, increase in unhealthy lifestyle habits, technological advancements, company agreements like mergers and acquisitions by key players, government support and initiative for development and implementation of biologics, collaboration of global leading companies, more companies earning market approval, product launches, the development of biologics with higher efficiency and scope, and a favorable research funding scenario are key factors contributing to high CAGR of Biologics during forecast period.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Merck Co. Inc., AbbVie, Inc., AstraZeneca Plc., Amgen, Inc., Bristol-Myers Squibb Co., Eli Lilly and Company, Janssen Pharmaceuticals, Inc., GlaxoSmithKline Plc., Novartis AG, Pfizer, Inc., and Novo Nordisk A/S
Market Segmentation by Types:
Product type Outlook (Revenue, USD Million; 2018-2028)
- Monoclonal Antibodies
- Vaccines
- Recombinant Hormones/Proteins
- Cellular Based Biologics
- Gene Based Biologics
Application Outlook (Revenue, USD Million; 2018-2028)
- Cancer
- Infectious Diseases
- Autoimmune diseases
- Others
End use Outlook (Revenue, USD Million; 2018-2028)
- Hospitals
- Clinics
- Diagnostic Centers
- Others
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Biologics market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Further key findings from the report suggest
- Biologics market is growing at a CAGR of 13.0% in Asia Pacific followed by North America and Europe, with 11.8% and 11.6% CAGR, respectively. Rise in prevalence of cancer and other target diseases across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, Monoclonal Antibodies segment dominates the market holding 39.0% of the global market since it is the primary medicine used for the treatment of cancer.
- On the basis of product type, Gene biologics are growing predominantly with a CAGR of 14.3% followed by vaccines and cellular biologics.
- On the basis of application, Cancer is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 12.4%.The key factor responsible for the growth of the segment is predominant rise in cancer and geriatric population worldwide.
- Cancer application segment holds a market share of 42.2% followed by autoimmune diseases and infectious diseases holding 35.9% and 14.6% respectively.
- Asia Pacific is expected to account for the 21.4% of the global Biologics market due to the large prevalence of target diseases in countries like India and China.
- Stringent government regulations and associated side effects like gastrointestinal complications, change in blood pressure, chest pain, breathing problems etc. are the key challenges faced by the Biologics market players.
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