Biological Drugs Market on Track to Hit US$287,139.7 Mn by 2030, According to Persistence Market Research

The global biological drugs market has seen significant growth over the years and is projected to continue expanding at a strong pace. Biological drugs, derived from living cells, are primarily used to treat chronic diseases such as cancer, autoimmune disorders, and severe blood disorders. The complexity of these drugs sets them apart from conventional medications, making them increasingly vital in modern healthcare. According to industry insights, the global market for biological drugs is expected to reach an estimated value of US$ 287,139.7 million by 2030, with a CAGR exceeding 10%.

Key factors driving this market include a growing geriatric population, a surge in chronic diseases, and increasing healthcare awareness. Notably, the North American market holds the largest share, driven by high demand for treatments related to diabetes and cancer. Additionally, the introduction of biosimilars and advancements in biomedical technology are expected to further propel market growth. The most lucrative segments within this market include therapeutic proteins such as Enbrel, and monoclonal antibodies like Humira, while regions like North America and Europe lead in market demand due to high healthcare investment and aging populations. However, challenges such as high drug prices and patent expirations of blockbuster drugs are likely to temper the market's growth in the coming years.

Get a Sample Copy of Report (Use Corporate Mail id for Quick Reponse):
https://www.persistencemarketresearch.com/samples/2883

Key Highlights from the Report:

The global biological drugs market is expected to grow at a CAGR of 10% over the forecast period.

North America is the largest market for biological drugs.

Therapeutic proteins, especially Enbrel, are key revenue drivers.

Patent expirations of bestselling drugs pose challenges for market growth.

The demand for monoclonal antibodies like Humira remains high.

Innovation in biotechnology is expected to further expand the market's scope.

Market Segmentation

The global biological drugs market is segmented into several categories, primarily based on the type of drug, end-user, and therapeutic application. In terms of drug types, therapeutic proteins (including products like Enbrel, Neulasta, and NovoLog) dominate the market, with Enbrel expected to show the fastest growth. Monoclonal antibodies, such as Humira and Rituxan, also represent a significant portion of the market, benefiting from continued innovation and adoption in cancer therapies.

Another growing category is vaccines, with products like Prevnar 13 and Gardasil gaining traction. Monoclonal antibodies are often used to treat conditions like rheumatoid arthritis, cancer, and autoimmune diseases, while therapeutic proteins are frequently employed in hormone replacement therapies, including insulin treatments. The increasing demand for these therapies can be attributed to the rising prevalence of chronic diseases and the development of new treatments for complex conditions.

Regional Insights

In terms of regional market trends, North America holds the largest share of the biological drugs market due to factors such as strong healthcare infrastructure, high healthcare expenditure, and increasing prevalence of chronic diseases. The U.S. particularly benefits from large-scale adoption of biological drugs, including both innovative therapies and biosimilars.

Europe is another leading market, driven by the growing geriatric population and increasing healthcare awareness. The aging population in regions like Germany and France is expected to further fuel the demand for biological drugs, especially in areas like oncology and autoimmune treatments. Meanwhile, in Asia Pacific, the market is being spurred by government support for the biotechnology industry, affordable drug manufacturing costs, and rising demand for healthcare services.

Market Drivers

Several factors are propelling the growth of the biological drugs market. First, the increasing global prevalence of chronic diseases, particularly cancer and diabetes, is a significant driver. Biological drugs offer targeted treatment options that are often more effective than traditional drugs. Furthermore, the growing geriatric population worldwide, especially in developed markets, is fueling demand for chronic disease treatments. Government initiatives supporting the research and development of new biopharmaceuticals also play a crucial role in market expansion.

Market Restraints

Despite its promising growth prospects, the biological drugs market faces certain challenges. Patent expirations of high-revenue drugs represent a significant risk, as it opens the door for biosimilars, which are typically more affordable alternatives. Additionally, the high cost of biological drugs remains a barrier, particularly in developing countries, where affordability is a key concern. Some patients also experience severe side effects from injectable biological drugs, leading to lower adoption rates for certain therapies.

Market Opportunities

The biological drugs market presents several opportunities for growth. The continued advancement in biotechnology is likely to produce new biological drugs with improved efficacy and fewer side effects, expanding the market's scope. Additionally, biosimilars are expected to become more prevalent, allowing for more affordable treatment options. Emerging markets such as Asia-Pacific and Latin America are witnessing rapid growth in healthcare infrastructure, creating an opportunity for market players to expand their presence.

Reasons to Buy the Report

✔ Comprehensive insights into the biological drugs market trends and dynamics.

✔ In-depth analysis of market segmentation, including therapeutic proteins and monoclonal antibodies.

✔ Key regional market trends and opportunities in North America, Europe, and Asia-Pacific.

✔ Detailed forecast and projections up to 2020, including insights into market size and growth.

✔ Profiles of leading companies and their strategies for market growth and innovation.

Key Players

Pfizer Inc.

Abbott Laboratories

Novartis AG

Eli Lilly and Company

GlaxoSmithKline plc

Bristol-Myers Squibb Company

Merck & Co., Inc.

Amgen Inc.

Baxter International Inc.

Biogen Idec

Recent Developments

Pfizer Inc. has recently invested in expanding its biosimilars portfolio, which is expected to boost its presence in the biological drugs market.

Amgen Inc. launched a new monoclonal antibody treatment, strengthening its position in oncology therapies.

The biological drugs market is undergoing rapid transformations, driven by innovation in biotech, increasing healthcare needs, and the rising demand for targeted therapies. However, companies must navigate patent expirations, high drug costs, and potential competition from biosimilars to sustain growth. As the industry continues to evolve, significant opportunities for innovation and market expansion lie ahead.

Contact Us:
Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

This release was published on openPR.