Press release
Biologics Market Future Trends and Scope Analysis Report
The Global Biologics Market Size is valued at USD 402.07 billion in 2023 and is predicted to reach USD 717.01 billion by the year 2031 at a 7.76% CAGR during the forecast period for 2024-2031
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A biological drug is a substance that is either derived from living organism components or contains them. Vaccines, recombinant proteins, tissues, allergens, genes, cells, and blood components are all considered biologics. In addition to chronic migraine, anaemia, haemophilia, and inflammatory bowel disease, biologics treat hepatitis B, rheumatoid arthritis, and inflammatory bowel disease.
The expansion of the biologics market over the forecast period is propelled by a multitude of factors, including increased utilization of biopharmaceuticals as opposed to chemically manufactured molecules, a larger market share of biologics, and numerous government initiatives. Rapid advancements in biotechnology have also contributed to the phenomenal success of biologics.
Collaborations, rapid advances in biotechnology, funding, and government initiatives have all contributed to the tremendous success of biologics. Promising developments in cell and gene therapies, antibody-drug conjugates, and immunotherapies are contributing to the growth of the biologics industry.
List of Prominent Players in the Biologics Market:
• Abbvie Inc.
• Amgen
• AstraZeneca
• Bayer AG
• Merck & Co. Inc
• Novartis AG
• Novo Nordisk A/S
• Celltrion Inc.
• Addgene
• Eli Lilly & Company
• F. Hoffmann-La Roche Ltd
• GSK group of companies
• Johnson & Johnson Services, Inc
• Pfizer Inc.
• Samsung Biologics
• Sanofi
• Precision Biologics, Inc.
Market Dynamics:
Drivers-
The increasing prevalence and identification of chronic diseases have necessitated the development and accessibility of advanced diagnostics and therapeutic drugs, thereby stimulating the global biologics market. Biologics are medications that have undergone genetic engineering to selectively target an inflammatory component of the immune system. In response to the emergence of coronavirus diseases, governments worldwide are implementing measures to strengthen the healthcare sector and guarantee the availability of biologics. Species and expression systems are also being investigated by specialists and researchers with the intention of increasing the output of biological products.
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Challenges:
Certain pharmaceutical substances are purported to induce unforeseen disruptions in immune function, which may lead to severe infections. Opportunistic infections are more prevalent among patients who are administered biologics that inhibit specific immune system activities. This factor has the potential to hinder the adoption of biological therapy, which could hurt revenue generation.
Regional Trends:
The North American biologics market is anticipated to capture a significant portion of the revenue market and expand at a rapid CAGR in the near future, owing to the proliferation of technological and biological companies, the presence of major players in the pharmaceutical industry, and the rising incidence of chronic diseases. Moreover, it is anticipated that sustained endeavours by policymakers, regulators, and the pharmaceutical sector to tackle the concerns of accessibility and affordability of biologics, specifically monoclonal antibodies (mAbs), will contribute to the expansion of the European biologics market in the coming years.
Recent Developments:
• In February 2022, The Janssen Pharmaceutical Companies of Johnson & Johnson obtained the United States Food and Drug Administration (FDA) approval for CARVYKTI (ciltacabtagene autoleucel; cilia-cel). This drug is used to treat adults with refractory or relapsed multiple myeloma (RRMM), including an a proteasome inhibitor, immunomodulatory agent, and an anti-CD38 monoclonal antibody.
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Segmentation of Biologics Market-
By Manufacturing
• Outsourced
• In-house
By Disease
• Oncology
• Immunological Disorders
• Cardiovascular Disorders
• Hematological Disorders
• Others
By Source
• Microbial
• Mammalian
• Others
By Product
• MABs
• Vaccines
• Hormones
• Therapeutic Enzymes
• Recombinant Proteins
• Antisense, RNAi & Molecular Therapy
• Blood Factors and Anticoagulants
• Allergenic extracts
• Human Cells and Tissues
• Proteins
• Gene Therapies
• Cellular Therapies
• Others
By Mode of Purchase
• Prescription Drugs
• Over The Counter (OTC) Drugs
By Route of Administration
• Oral
• Others (IV and IP)
By Drug Classification
• Branded Drugs
• Generic Drugs
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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