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Biologics Market Size, Share, Growth, Overview By 2024-2033
Biologics Market Size
As per the report, the biologics market size has grown strongly in recent years. It will grow from $416.65 billion in 2023 to $454.4 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The biologics market size is expected to see rapid growth in the next few years. It will grow to $666.31 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
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Personalized Medicine Fueling Growth In The Biologics Market
The demand for personalized medicine is driving significant growth in the global biologics market. Personalized medicine, also known as precision medicine, is a medical approach that tailors healthcare and medical treatment to the individual characteristics of each patient. The personalized medicine offers the ability to customize biologic treatments to a patient's specific genetic and clinical profile is transforming the healthcare landscape. For instance, according to the Personalized Medicine Coalition's report, in 2021 the personalized medicines accounted for over a third of new drug approvals in 2021, representing approximately 35% of all newly approved therapeutic molecular entities. Therefore, the increasing demand for personalized medicine is driving the growth of the biologics market going forward.
Biologics Market Driven By Innovative Product
Major companies operating in the biologics industry are focused on developing innovative products, such as, oncology biosimilar to strengthen their position and gain a competitive advantage. Oncology biosimilars are a type of biologic drug that is used to treat cancer. Biosimilars are highly similar copies of existing biologic drugs. For instance, in May 2022, Biocon Biologics Limited, a subsidiary of Biocon Limited, an India-based biopharmaceutical company and Viatris Inc., a US-based pharmaceutical company , launched Abevmy®, an oncology biosimilar, in Canada. Abevmy is a biosimilar medicine used for the treatment of cancer. Biosimilar medicines are biological medicines that are highly similar to another biological medicine that has already been authorized for use. They are used to treat the same conditions as the reference medicine and have the same safety and efficacy.
The biologics market covered in this report is segmented -
1) By Type: Monoclonal Antibodies (MAbS), Therapeutic Proteins, Vaccines
2) By Drug Classification: Branded Drugs, Generic Drugs
3) By Route Of Administration: Oral, Other Route Of Administration
4) By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Other Distribution Channels
Subsegments Covered: Anti-Cancer MAbS, Immunological MAbS, Anti-Infective Monoclonal Antibodies (MAbs), Neuropharmacological MABS, Cardiovascular And Cerebrovascular MAbS, Other Monoclonal Antibodies (MAbs), Metabolic Disorders Therapeutic Proteins, Cancer Therapeutic Proteins, Cardiovascular Therapeutic Proteins, Immunological Therapeutic Proteins, Other Therapeutic Proteins, Anti-Infective Vaccines, Autoimmunity Vaccines, Other Vaccines
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Major companies operating in the biologics market report are Merck & Co., Inc., AbbVie Inc., F. Hoffmann-La Roche AG, Johnson & Johnson, Pfizer Inc., Bristol Myers Squibb Company, Sanofi S.A., GlaxoSmithKline Plc., Eli Lilly and Company, Amgen Inc., Wockhardt, Zydus Cadilla, Asahi Glass Co. Ltd., China Biologic Products Holdings Inc., China Regenerative Medicine International, ABLbio, Adimmune, Henlius, Innovent Biologics, Bio-Thera, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, Shanghai Fosun Pharmaceuticals, Biocon, Dr.Reddy's, Mylan, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, AGC Biologics, Tonghua Dongbao Pharmaceutical Co., China Regenerative Medicine International, Shanghai Fosun Pharmaceuticals, Bayer AG, Novartis AG, BiosanaPharma, WuXi, Teva UK Limited, AstraZeneca, Abbott Laboratories, Vectura Group, Fujifilm, Lonza, Seqens, Piramal Pharma Solutions, Corden Pharma, Procos SpA and BSP Pharmaceuticals., Microgen, Geropharm, Valenta, NovaMedica, SynBi, Rani Therapeutics, Emisphere Technologies Inc., Enteris BioPharma, Allena Pharmaceuticals, Biogen Inc., Emisphere Technologies Inc., Biogen Inc., Novartis, Apotex, Gilead Sciences, Bayer, Abbott Laboratories
Contents of the report:
1. Executive Summary
2. Biologics Market Report Structure
3. Biologics Market Trends And Strategies
4. Biologics Market - Macro Economic Scenario
5. Biologics Market Size And Growth
…..
27. Biologics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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