Press release
Biologics Market In Global Industry: Overview, Size And Share 2020
The Business Research Company
The global biologics market was worth $221 billion in 2017, having grown at a compound annual growth rate of more than 5.4% since 2013. Growth in the biologics market in the historic period resulted from aging population, government initiatives, ability to command high prices, increased mergers and acquisitions, and increased share of biologics in the pipeline.
The Key drivers of the biologics market include:-
Biologics are used in the treatment of chronic disease conditions and unlike small molecules, the number of biosimilars (generic version of biologics) are less. This gives the monopoly to biologics and the manufacturers to state high price in the market.
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Biologics Market Segmentation:-
By Type
1. Monoclonal Antibodies (mAbs)
2. Therapeutic Proteins
3. Vaccines
Vaccines had the highest growth rate of nearly 5.86% during the historic period. The fastest growth in the historic period can be attributed to the increasing government and non-government initiatives for vaccine R&D activities and prevention of various infectious diseases. Various bivalent and pentavalent vaccines that can prevent an individual from more than one disease have also been developed and are being administered in many countries across the world.
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By Geography - The biologics market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the biologics market are
1. Johnson & Johnson
2. F. Hoffmann-La Roche Ltd.
3. Bristol-Myers Squibb Company
4. GlaxoSmithKline Plc.
5. AbbVie
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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