Global Biologics Market to Reach USD 712.45 Billion by 2032, Driven by Rising Prevalence of Chronic Diseases and Personalized Medication Needs.

The global Biologics Market was valued at USD 356.4 billion in 2022 and is expected to reach USD 712.45 billion by 2032, with a compound annual growth rate (CAGR) of 8% during the forecast period. The increasing prevalence of chronic diseases and the growing need for personalized medication are driving the growth of the market. Biologics, which are complex molecules produced from live cells, are highly specific and effective in treating diseases that were once considered incurable or difficult to treat, such a s cancer, autoimmune disorders, and infectious diseases.

The demand for biologics is being driven by the rising incidence of chronic diseases such as diabetes and cancer. Cancer is projected to cause 10 million deaths worldwide in 2020, according to the World Health Organization (WHO), making it one of the leading causes of mortality. Biologics have shown promise in treating various types of cancer, including breast cancer, lung cancer, and leukemia. The prevalence of autoimmune diseases such as multiple sclerosis and rheumatoid arthritis is also increasing, which is fueling demand for biologics.

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Some major companies included in the global biologics market report are:

• Roche Holding AG
• Johnson & Johnson
• AbbVie Inc.
• Amgen Inc.
• Novo Nordisk A/S
• Eli Lilly and Company
• Sanofi S.A.
• Biogen Inc.
• Pfizer Inc.
• Bristol-Myers Squibb Company

Personalized medicine is another significant driver of the biologics market. Advances in genomics and proteomics have enabled the development of targeted biologics, which are designed to target specific biomarkers associated with a patient's condition, improving their efficacy and reducing the risk of side effects. The growing demand for personalized treatment is expected to drive revenue growth in the market.

The aging population is also contributing to the demand for biologics that can offer targeted and effective treatment. The elderly are more susceptible to chronic diseases, and by 2050, the United Nations (UN) estimates that there will be 1.5 billion elderly people globally, which is expected to drive high demand for biologics.

However, the high cost of biologics is a major factor that could hinder revenue growth in the market. Biologics are expensive to develop and produce, making them unaffordable for many patients. In addition, strict regulatory standards for biologic approval make it difficult for small biotech companies to enter the market.

The availability of biosimilars is another factor that could impact revenue growth in the market. Biosimilars are biologic products that are similar to the reference product but not identical. They are becoming increasingly popular because they are less expensive than the reference product.

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Segments Covered in the Report

The global biologics market can be categorized by product type into monoclonal antibodies, vaccines, recombinant proteins, cell and gene therapy, and others. Monoclonal antibodies are used to treat various diseases, including cancer, autoimmune disorders, and infectious diseases. Vaccines are critical for the prevention of infectious diseases and are used to stimulate the body's immune system to develop immunity to a particular disease. Recombinant proteins are produced by genetic engineering techniques and are used to treat various diseases. Cell and gene therapy involves the use of cells or genes to treat or prevent diseases, and this segment is expected to experience significant growth in the coming years. The "others" category includes various biologics that do not fall into the above categories.

In terms of application, the biologics market can be segmented into oncology, immunology, cardiovascular, neurology, and others. Oncology is the leading application segment of the biologics market, as biologics have demonstrated excellent results in treating various types of cancer. Immunology is another major application segment, as biologics are highly effective in treating autoimmune diseases. The cardiovascular and neurology segments are also expected to grow in the coming years, as biologics are showing promise in treating various cardiovascular and neurological disorders.

Overall, the global biologics market is expected to experience significant growth in the coming years, driven by the increasing prevalence of chronic diseases and the growing demand for personalized medicine. Monoclonal antibodies, vaccines, recombinant proteins, and cell and gene therapy are the major product types driving revenue growth in the market. Oncology, immunology, cardiovascular, and neurology are the leading application segments, with oncology being the largest. Despite the high cost of biologics, their efficacy in treating various diseases is expected to drive demand for these products in the years to come.

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Strategic development:

• In recent years, several major pharmaceutical companies have announced strategic partnerships and acquisitions of biotechnology companies to strengthen their positions in the market and develop new treatments for various diseases.
• In 2021, Roche Holding AG announced a partnership with biotech firm Sarepta Therapeutics to develop and commercialize gene therapy treatments for muscular dystrophy. This collaboration is expected to accelerate the development of promising treatments for this rare and debilitating disease.
• Also in 2021, Johnson & Johnson acquired biotech company Momenta Pharmaceuticals, which specializes in developing drugs for rare diseases. This acquisition will allow Johnson & Johnson to expand its portfolio of treatments for rare diseases and strengthen its position in this area.
• In 2020, AbbVie Inc. entered into a collaboration with biotech company Harpoon Therapeutics to develop and commercialize new immunotherapy treatments for cancer. This partnership combines Harpoon's innovative T-cell engager technology with AbbVie's expertise in oncology drug development, with the aim of creating new and more effective treatments for cancer patients.
• In the same year, Amgen Inc. announced the acquisition of biotech firm Five Prime Therapeutics, which is focused on developing treatments for cancer. This acquisition is expected to strengthen Amgen's position in the field of oncology drug development and expand its portfolio of cancer treatments.
• Also in 2020, Novo Nordisk A/S acquired Corvidia Therapeutics, a biotech company focused on developing treatments for cardiovascular diseases. This acquisition will allow Novo Nordisk to expand its portfolio of treatments for cardiovascular diseases and strengthen its position in this area.
• These partnerships and acquisitions reflect the ongoing trend of collaboration and consolidation within the pharmaceutical and biotech industries, as companies seek to leverage their respective strengths and resources to develop innovative new treatments for a variety of diseases.

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