Press release
Personalized Medicine Fueling Growth In The Biologics Market: An Emerging Driver Transforming The Biologics Market Landscape
Biologics
What Is the Projected Growth of the Biologics Market?
The size of the biologics market has experienced rapid expansion in the past few years. Projected to increase from $533.36 billion in 2024 to $610.25 billion in 2025, it's expected to have a compound annual growth rate (CAGR) of 14.4%. This growth during the historic period is due to factors such as the aging population, government initiatives, the potential to set high prices, and a rising demand for immunology.
The biologics market is predicted to experience a fast-paced expansion in the ensuing years, with the projected market size reaching $1068.24 billion by 2029, indicating a compound annual growth rate (CAGR) of 15.0%. Factors that will drive this surge during the forecast period include enhanced funding, technological growth, broadened healthcare access, vigorous R&D efforts in the creation of oral biologics, preference for pills over injections, and a sturdy biologics pipeline. Upcoming trends within the forecast period incorporate utilizing malleable and less rigid regulations to create new and better biologics, transitioning towards the development of biological drugs, dedicating resources in research for innovative biologic production, and fortifying research in the development of biologic treatments for complex diseases.
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What Are the Different Biologics Market Segments?
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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What Are the Primary Drivers Shaping the Biologics Market?
The rise in the demand for personalized medicine is the driving force behind the significant expansion in the global biologics market. Personalized medicine, otherwise known as precision medicine, is a healthcare practice that accommodates the unique aspects of each patient's health and therapeutic treatments. This customizarion in biological therapies, aligned with a patient's distinct genetic and clinical composition, is revolutionizing the field of healthcare. For instance, in 2024, the Personalized Medicine Coalition, a US-based healthcare and hospital institution, stated that the FDA had approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to just six in the previous year. Consequently, the escalating demand for personalized medicine is propelling the biologics market growth into the future.
Which Companies Are Leading in the Biologics Market?
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
What Are the Major Trends Shaping the Biologics Market?
To fortify their foothold and attain competitive superiority, leading corporations in the biologics sector are concentrating on producing novel products, notably, biosimilars in oncology. In cancer treatment, oncology biosimilars serve as a category of biologic drugs. Essentially, biosimilars are close replicas of prevailing biologic drugs. For instance, in May 2022, Biocon Biologics Limited, a branch of Biocon Limited, a biopharmaceutical company based in India, in collaboration with Viatris Inc., a pharmaceutical company based in the US, launched an oncology biosimilar named Abevmy in Canada. Abevmy is a biosimilar medication developed for cancer treatment. This class of medicines, known as biosimilars, are biological medicines nearly identical to other previously approved biological medicines. They are prescribed for the same medical conditions as the reference drug and provide comparable safety and efficacy.
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What Are the Top Revenue-Generating Geographies in 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Biologics Market?
2. What is the CAGR expected in the Biologics Market?
3. What Are the Key Innovations Transforming the Biologics Industry?
4. Which Region Is Leading the Biologics Market?
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