Biologics Market 2020 - Global Market Size, Share, Trends And Top Key Players Analysis
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The biologics industry comprises companies manufacturing biological products. Biological products include a wide range of products such as vaccines, allergenics, somatic cells, tissues, and recombinant therapeutic proteins. Biologics can be composed of sugars, proteins, or nucleic acids or complex combinations of these substances, or may be living entities such as cells and tissues. These products are isolated from natural sources such as human, animal, and microorganisms by biotechnological methods and other cutting-edge technologies. Specifically, most biologic medicines are developed using recombinant DNA (rDNA) technology.
The Key drivers of the biologics market include:
Ability To Command High Prices - 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. For instance, a biologic drug costs an average of US$ 22 per day compared to a small molecule drug that costs an average of US$1 per day. This in turn drives the biologics market.
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Biologics Market Segmentation:-
By Type - The biologics market can be segmented by type into
a) Monoclonal Antibodies (mAbs)
b) Therapeutic Proteins
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
Some of the major key players involved in the biologics market are
• Johnson & Johnson
• F. Hoffmann-La Roche Ltd.
• Bristol-Myers Squibb Company
• GlaxoSmithKline Plc.
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