Global Biologics Market to Reach $1068.24 Billion by 2029, Growing at 15% CAGR

What industry-specific factors are fueling the growth of the biologics market?
The global biologics market is experiencing notable expansion due to the rising demand for personalized medicine. Personalized medicine, sometimes referred to as precision medicine, is a special medical methodology where health care and treatments are tailored to the individual attributes of every patient. This form of medicine provides the flexibility to modify biological therapies based on a patient's particular genetic and clinical profile, thus revolutionizing the healthcare industry. For example, the Personalized Medicine Coalition, a US-based hospital and healthcare institute, reported in February 2024 that the FDA had greenlighted 16 novel personalized treatments in 2023 for patients suffering from rare diseases, a significant increase from the six approvals in 2022. Consequently, the escalating demand for personalized medicine is fueling the growth of the biologics market in the future.

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What Is the projected market size and growth rate for the biologics market?
In recent times, the biologics market has experienced robust expansion. Its size is projected to increase from $533.36 billion in 2024 to $610.25 billion in 2025, registering a compound annual growth rate (CAGR) of 14.4%. Factors such as the aging population, initiatives by the government, the capacity to dictate high prices, and a surged demand for immunology have propelled the growth in the historical period.

The biologics industry is anticipated to experience swift expansion in the coming years, growing to $1068.24 billion in 2029 at a CAGR of 15.0%. This surge during the forecast period is ascribed to heightened funding, advancements in technology, better healthcare accessibility, solid research and development initiatives for creating oral biologics, a preference for pills over injections, and an enhanced pipeline of biologics. The forecast period is set to see trends such as utilizing revised and more lenient regulations for the creation of superior biologics, a shift towards the development of biologic drugs, investments in R&D for the creation of innovative biologics, and increased funding in research and development of biologics intended for the treatment of complex diseases.

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What new trends are reshaping the biologics market and its opportunities?
Firms at the forefront of the biologics sector are prioritizing the development of ground-breaking products like oncology biosimilars to solidify their market standing and achieve an edge over competitors. Oncology biosimilars are a form of biological drugs employed in cancer treatment. They are essentially near-identical replicas of pre-existing biologic drugs. For example, in May 2022, Biocon Biologics Limited-a subsidiary of Biocon Limited, an Indian biopharmaceutical firm-and Viatris Inc., an American pharmaceutical corporation, rolled out Abevmy, an oncology biosimilar, in Canada. Abevmy is a biosimilar drug used in cancer therapy. Biosimilar drugs are biological medicines that closely resemble other already approved biological medicines. They are utilized for the treatment of the same diseases as the original drug while maintaining the same safety and efficacy standards.

What major market segments define the scope and growth of the biologics market?
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 Or Drug Stores, Other Distribution Channels

Subsegments:
1) By Monoclonal Antibodies (MAbs): Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bispecific Monoclonal Antibodies
2) By Therapeutic Proteins: Hormones, Enzymes, Cytokines, Fusion Proteins
3) By Vaccines: Live Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, mRNA Vaccines, Viral Vector Vaccines

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Which region dominates the biologics market?
North America was the largest region in the biologics market in 2024. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the biologics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Which key market leaders are driving the biologics industry growth?
Major companies operating in the biologics market include 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, China Biologic Products Holdings Inc., ABLbio, Adimmune, Henlius, Innovent Biologics, Bio-Thera, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, 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, Enteris BioPharma, Allena Pharmaceuticals, Biogen Inc., Emisphere Technologies Inc., Biogen Inc., Apotex, Gilead Sciences

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What Is Covered In The Biologics Global Market Report?

•Market Size Forecast: Examine the biologics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the biologics market for a structured understanding.
•Key Players Overview: Analyze major players in the biologics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the biologics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the biologics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the biologics market.
•Industry Challenges: Identify potential risks and obstacles affecting the biologics market.
•Competitive Landscape: Review strategic developments in the biologics market, including expansions, agreements, and new product launches.

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