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Major Growth Driver Identified in 2025 Biologics Market: Personalized Medicine Fueling Growth In The Biologics Market
Biologics Market
What Will the Biologics Industry Market Size Be by 2025?
The size of the biologics market has witnessed a swift expansion in the past few years. The market is predicted to rise from $533.36 billion in 2024 to $610.25 billion in 2025, indicating a compound annual growth rate (CAGR) of 14.4%. The historical growth could be linked to factors such as the aging population, government policies, the capacity to demand high prices, and growing need for immunology.
What's the Long-Term Growth Forecast for the Biologics Market Size Through 2029?
There is an anticipation of quick expansion in the biologics market in the upcoming years. It is projected to swell to $1068.24 billion by 2029, with a compound annual growth rate (CAGR) of 15.0%. Factors contributing to this growth prediction include increased funding, improvements in technology, broader access to healthcare, vigorous research and development of oral biologics, a preference for pills over injections, and a strong developmental pipeline for biologics. Key trends for the forecast period encompass utilizing updated and relaxed regulations to formulate better biologics, a shift towards biologic drug creation, investment in research and development for unique biologic innovations, and a focus on R&D for biologics aimed at complex diseases' treatment.
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What Are the Key Growth Drivers Fueling the Biologics Market Expansion?
The surge in personalized medicine demand is significantly contributing to the expansion of the global biologics market. Personalized or precision medicine is a healthcare approach that adjusts medical treatment and healthcare according to each patient's unique attributes. It provides the chance to adapt biological treatments to a patient's distinct clinical and genetic profile, revolutionizing the healthcare industry. For example, the Personalized Medicine Coalition, a hospital and health care organization based in the US, reported in February 2024 that the FDA approved 16 new tailored treatments for rare disease patients in 2023, a significant rise from six in 2022. The growing demand for personalized medicine is therefore fostering the growth of the biologics market.
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What Are the Key Trends Driving Biologics Market Growth?
Top firms in the biologics sector are concentrating their efforts on the invention of groundbreaking products like oncology biosimilars, in order to solidify their market presence and gain a competitive advantage. Oncology biosimilars are a type of biologic drug used in cancer treatment, which are nearly identical copies of existing biologic drugs. For example, in May 2022, Biocon Biologics Limited, Biocon Limited's subsidiary from India and Viatris Inc., a pharmaceutical company based in the US, introduced Abevmy, an oncology biosimilar, to the Canadian market. Abevmy is a biosimilar medication for cancer treatment. Biosimilar medicines are biological medicines that highly resemble authorized biological medicines. They are used to treat the same diseases as their reference medicines and have identical safety and effectiveness.
How Is the Biologics Market Segmented?
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 Companies Are Leading the Charge in Biologics Market Innovation?
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
Which Regions Are Leading the Global Biologics Market in Revenue?
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
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