Biologics Drug Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global biologics drug market is anticipated to grow at a significant CAGR of 8.4% during the forecast period (2022-2028). Biologic medications are the most advanced therapies available and are used to treat a wide range of diseases and disorders. Crohn's disease, ulcerative colitis, rheumatoid arthritis, and other autoimmune illnesses are all treated using biologics medications. The rising occurrences of cancer and the growing public-private investments in the development of biologics are two key drivers driving market growth. The main reason driving up the demand for biologics is the rise in cancer incidence. According to the World Cancer Research Fund, 18.1 million cancer cases were registered globally in 2020 and 10 million deaths were reported due to the cancer.

Sveral clinical trials and FDA approvals are in pipeline in the global biologics market, which is considerably driving the market growth. For instance, in August 2021, Moderna, Inc. announced that it has completed the rolling submission process for its Biologics License Application (BLA) from the US FDA for the full licensure of the Moderna COVID-19 Vaccine for active immunization to prevent COVID-19 in individuals of 18 years and above. Similarly, in August 2021, Pfizer Inc. and BioNTech SE announced the initiation of a supplemental Biologics License Application (sBLA) to the US FDA for the approval of a booster (third) dose of COMIRNATY (COVID-19 Vaccine, mRNA) to prevent COVID-19 in individuals of 16 years and above.

Some major players in the market include AbbVie Inc., Amgen Inc., Eli Lilly and Co., F. Hoffman-La Roche AG, Boehringer Ingelheim GmbH, and others. The market players are serving significantly in the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, in order to stay competitive in the market. For instance

•In March 2022,Arena Pharmaceuticals, a clinical-stage startup exploring unique potential treatments for the treatment of numerous immuno-inflammatory illnesses, has been acquired by Pfizer Inc. Arena Pharmaceuticals brings to Pfizer a diverse and promising pipeline of development-stage therapeutic candidates in gastroenterology, dermatology, and cardiology, including etrasimod, an oral, selective sphingosine 1-phosphate (S1P) receptor modulator currently under development for ulcerative colitis, Crohn's disease, atopic dermatitis, eosinophilic esophagitis, and alopecia areata.
•In September 2019, Lundbeck A/S had acquiredAlder, a clinical-stage biopharmaceutical firm dedicated to improving migraine therapy through the discovery, development, and commercialization of new therapeutic antibodies. Lundbeck will be able to treat a wider range of brain problems as a result of this acquisition. Lundbeck will also be able to deliver future biological advances in brain illnesses due to this acquisition. Alder submitted a Biologics License Application (BLA) for eptinezumab to the USFDA in February 2019. Lundbeck plans to submit eptinezumab for European Union approval in 2020, followed by bids for approval in other parts of the globe, such as Japan and China. This acquisition will enable Lundbeck to expedite its late-stage pipeline while additionally providing access to new monoclonal antibody therapy capabilities.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Product
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- AbbVie Inc., Amgen Inc., Eli Lilly and Co., F. Hoffman-La Roche AG, Boehringer Ingelheim GmbH, and others.

A full report Biologics Drug Market of is available at:  https://orionmarketreports.com/biologics-drug-market/94909/

Global Biologics Drug Market Report by Segment
By Product
•Antibody Therapeutics
•Vaccines
•Cell Therapy
•Gene Therapy
•Others
By Application
•Cancer
•Autoimmune Diseases
•Infectious Diseases
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

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This release was published on openPR.