Biological Drugs Market By Product, Application, Manufacturer, Sales and Segmentation 2023

The global biological drugs market is projected to reach USD X.xx billion by 2023, growing with a CAGR between  10.0% to 10.5% from 2017 to 2023. Biological drugs accounts for nearly 20% of overall drugs sold across the world and its share is increasing progressively. Biologics are manufactured by utilizing recombinant DNA technology within in animal cells, human cells, microorganisms or plant cells. Biological drugs are available as monoclonal antibodies, injections, recombinant therapeutic proteins, injections, oral solutions, interleukins and vaccines. Allergenics, blood components, gene therapies, insulin, plasma therapies, somatic cells, and tissues are also forms of biological drugs. Biological drugs are effective for the treatment of illnesses such as AIDS, asthma, alzhemier’s, anti-inflammatory diseases, cancers, Crohn’s disease, multiple sclerosis, psoriasis, psoriatic arthritis, rheumatoid arthritis and various cancers. Against psoriasis, biological drugs function by blocking the immune system processes, which can create the inflammation. In the case of rheumatoid arthritis, biologics made from the proteins in the body act against the effects of the TNF proteins produced by the immune system. Overdose of TNF proteins can make the immune system of the body to attack some body parts and cause pain, stiffness as well as swelling of the joints.

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Increasing geriatric population in the world is driving the growth of the biological drugs market, as there is increasing requirement for effective medicines for various illnesses affecting old age people. Increasing number of patients with cancer, diabetes and other major chronic illnesses are expected to drive the growth of the biological drugs market during the forecast period. Biological drugs are more effective than respective chemical and other alternative medicines for several complex chronic illnesses. Hence, the biological drugs market is anticipated to attain significant growth in demand, despite the high cost of the products. The investments in research and development of biological drugs and innovation in manufacturing of biologics are anticipated to yield more products during the forecast period. Moreover, the promotional activities by various health organisations and policies by governments to make biological drugs affordable for the treatment of chronic illnesses are expected to enhance the growth of the global biological drugs market. Furthermore, the health regulatory policies with restrictions on chemical drugs with severe side effects and the improving healthcare services in various countries are expected to enhance the growth of the global biological drugs market.

The expiry of patents of many biological drugs provides opportunity for low cost biosimilars and other biological pharmaceutical companies to manufacture alternative drugs. Higher cost of manufacturing and the higher selling price of biological drugs give biosimilars and other alternatives the price advantage. Severe side effects related to injectable type of biological drugs is a restraint to the expansion of the market. The complexity of manufacturing of biological drugs is a major challenge for the global biological manufacturers, especially in the developing and least developed countries, where it is difficult to maintain both the controlled environment for manufacturing and quality control. Moreover, lack of proper refrigeration or environment controllable transportation facilities hinder the uniform quality of biological drugs in different regions, due to contamination at different stages. However, the need for effective medicines for illnesses like cancer, autoimmune diseases, and other chronic illnesses with minimal side effects when compared to chemical drugs is expected to provide opportunities for major players in the biological drugs market during the forecast period.

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Segments Covered:

The report segments the global biological drugs market by product and region. On the basis of product, the market is segmented as protein therapy, mAb therapy and vaccines. Monoclonal antibodies segment is expected to sustain a major share in the global biological drugs market during the forecast period. Among protein therapy segment, Enbrel is expected to attain more demand with fastest growth rate during the forecast period. Among the vaccines, the demand for Prevnar 13 is anticipated to grow significantly during the forecast period.

Geographic Coverage and Analysis:

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. North America dominates the global biological drugs market with a major share. Increasing technological advancements, favorable regulatory policies and increasing awareness about the biological due to intervention of governments and other agencies are the major factors that drive the growth of the North American biological drugs market. Moreover, the increasing demand for biological drugs for the treatment of chronic illnesses such as cancer and diabetes is anticipated to drive the growth of the North American biological market during the forecast period.

The presence of large geriatric population in the countries such as Germany and United Kingdom drive the growth of European biological drugs market. Furthermore, presence of top quality research and development infrastructure due to the partnerships between research institutes and manufacturing companies and increased funding from private-public initiatives drives the growth of the European market. The demand for alternative drugs for the treatment of chronic illnesses from the emerging nations in the Eastern Europe is anticipated to enhance the growth of the European biological drugs market.

Presence of large population with chronic illnesses, initiatives from governments to promote biologics, high investments in biologic drug manufacturing facilities, encouragement for biotech companies and research initiatives are major factors that drive the Asian biological drugs market. Moreover, the low manufacturing cost and the availability of low cost labor is expected to enhance the growth of the Asian biological drugs market, as it could attract more established players in the global market to Asia. The presence of good regulatory frameworks for biologics, increasing instances of chronical illnesses and encouragement from governments to promote manufacturing of drugs to in the region to make treatments affordable are the major factors that drive the Latin American biological drugs market. Substandard biological drugs due to the absence of stringent regulatory frameworks, presence of biosimilars and other alternatives are the major restraints for African biological drugs market. However, with the Ebola outbreak in recent past and the presence of large number of patients with AIDS and other chronic illnesses provide positive outlook for the growth of the biological drugs market in Africa. Presence of numerous patients with diabetes, rheumatoid arthritis and other chronic illnesses and availability of good healthcare systems are expected to drive the biological drugs market in the Middle East during the forecast period.

The report provides profiles of the companies in the global Biological Drugs market such as, AbbVie Inc, Amgen Inc, Bristol-Myers Squibb, Biogen Idec, Hoffman-La Roche AG, Johnson & Johnson, Lilly, Merck & Co Inc, Novartis, Novo Nordisk, Pfizer Inc, Sanofi SA.

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of biological drugs globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of biological drugs. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the biological drugs market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the biological drugs market to understand the present and future trends in this market and formulate their strategies accordingly.

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