Biologics Market | Strategic Assessment of Emerging Technologies in ---- by 2024
Pharmaceutical giants such as Eli Lilly and Co., Bristol-Myers Squibb, Novartis, AstraZenca, and GlaxoSmithKline Plc. have invested billions of dollars in the field of biologics, which have translated into capacity expansion and focused research and development. With an aim of gaining a quick hold on the vast growth opportunities, established players are entering into strategic collaborations and investing in local manufacturers in emerging economies for product developments and manufacturing activities.
Point in case is the investment of US$500 mn by Novartis for building cell-culture based manufacturing facility in Asia in collaboration with its Asia Pacific HQ in Singapore. In the near future, the global market for biologics is expected to witness considerable traction and tread along a healthy growth path.
Monoclonal Antibodies to Emerge as Leading Product Segment
Transparency Market Research states that the global biologics market will expand at a healthy 10.9% CAGR from 2016 to 2024. If the number holds true, the market, which is expected to value at US$209, 779 mn in 2016, is expected to rise to US$479, 752 mn by 2024. In terms of product variety, the segment of monoclonal antibodies is expected to dominate the market, with an annual share of 43% in 2016 and a CAGR of 11.9% from 2016 through 2024. Geographically, the global biologics market will be led by North America, which is expected to account for a 44.89% share in the global market in 2016 and expand at a 9.6% CAGR from 2016 through 2024.
Promise of Profitable Returns to Drive More Investments in Market
The vast funds directed by pharmaceutical companies towards research and development activities, manufacturing, and the process of trial and approval of new product varieties often reflect on the high costs of products upon approval. It has been observed that drug companies charge premium prices for innovative biologics, with profit margins as high as 20-40%. Biologics have been noted to provide effective treatment for many complex diseases, which have mostly lacked notable treatment options so far. As a result, despite the high prices, demand for biologics usually witnesses an upward trend.
According to a pharmacy management service provider Express Scripts, only about 2% of people in the U.S. used biologic drugs. Regardless of this, biologics account for as much as 40% of prescription drug spending in the country. In general, biologics treatment costs about 22 times more in comparison to small molecule drugs. Owing to such profitable returns, the market has witnessed a vast influx of investment from notable pharmaceutical companies in the past few years. The trend is expected to remain strong in the next few years as well, making highly profitable returns one of the key factors bringing in more investments and driving the overall development of the market.
Request to download brochure and view full ToC -
High Initial Capital Requirement and Complex Regulatory Approval Process to Hinder Market Growth
Biologics have demonstrated a relatively higher success rate of approval compared to traditional drugs. However, the total time required for clinical trials and approvals is much longer owing to stringent manufacturing processes, regulatory pathways, and a variety of product parameters. This leads to a significant increase in the cost of capital required for R&D and marketing of biologics as compared to traditional drugs. The scenario has deterred many small vendors from venturing into the global biologics market and is considered a key restraint for the market’s overall development.
Request to view Sample Report -
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Biologics Market | Strategic Assessment of Emerging Technologies in ---- by 2024 here
News-ID: 704114 • Views: 222
More Releases from Transparency Market Research
Oral Mucositis Market: Rise in the Number of Patients with Head and Neck Cancers …
Oral Mucositis is a debilitating and common complication of cancer treatment, such as radiation and chemotherapy. Mucositis occurs when cancer treatment breaks down the epithelial cells lining the gastro-intestinal tract, which causes ulceration and infection of the mucosal tissue. Read Report Overview - https://www.transparencymarketresearch.com/oral-mucositis-market.html Oral mucositis can cause several problems, such as, nutritional problems due to inability to eat, risk of infection as a result of open sores present in the mucosa,
Vocal Biomarkers Market is Driven by Rising demand for Non-intrusive and Easy-to …
Global Vocal Biomarkers Market: Overview Early detection of disease can mean the difference between life and death for a person, especially in the case of serious illness. Technology has helped identify several new tools that aid doctors and patients diagnose diseases at a very early stage, thus reducing mortality rates. One such development in the field of medical science is vocal biomarker. Read Report Overview - https://www.transparencymarketresearch.com/vocal-biomarkers-market.html A biomarker can be referred as
Plaque Psoriasis Treatment Market: high level of unmet clinical needs in patient …
Plaque psoriasis is the most common type of psoriasis and accounts for 80% to 90% cases of total psoriasis. Plaque psoriasis is an autoimmune condition, wherein thick, red patches appear on the skin. These plaques commonly appear on the knees, scalp, and elbows; however, these can also appear on other body part. These are itchy, painful, and can bleed. Read Report Overview - https://www.transparencymarketresearch.com/plaque-psoriasis-treatment-market.html The exact cause of plaque psoriasis is unknown.
Wearable Skin Patch Market: Growing Prevalence of Lifestyle Disease and Rising N …
Global Wearable Skin Patch Market: Overview The growing prevalence of lifestyle disease and rising number of elderly population are some of the key factors stimulating growth of the global wearable skin patch market in the coming years. Read Report Overview - https://www.transparencymarketresearch.com/wearable-skin-patch-market.html The global wearable skin patch market could be categorized into connected and regular wearable patch. Among these, regular wearable patch is likely to hold maximum share in the global wearable
More Releases for Biologics
Global Biologics Size and Segments
The Business Research Company’s global Biologics market report, covers the year-on-year growth of the global Biologics market historic and forecast growth. It also includes chapters on the Biologics market trends, Biologics geographical analysis, Biologics driver and restraints, and Biologics leading competitors’ revenues, profiles and market shares. Order The Global Biologics Market Report At: https://www.thebusinessresearchcompany.com/report/biologics-global-market-opportunities-and-strategies-to-2021 Global Biologics Market Segments The Biologics industry can be further categorized into -monoclonal antibodies (mAbs) market, therapeutic proteins market,
Increasing demand for biologics for various chronic diseases and rising investment in R&D for the production of biologics is expected to contribute significantly to the growth of plant-based biologics market. According to Biotechnology Innovation Organization (BIO) 2015, over 250 biologic therapies and vaccines have changed the lives of hundreds of millions of patients. Moreover, according to the same source, over 900 biologics are currently (2018) under the stage of development
Biologics Drug Discovery Market
2019-2025 Biologics Drug Discovery Market Report with Depth Analysis The biologics drug discovery involves target identification, hit-to-lead stage, lead identification and optimization. The report presents a comprehensive overview, market size, shares, and growth opportunities of Biologics Drug Discovery market by product type, application, key manufacturers and key regions. Request For Free report Sample -https://www.reportsmonitor.com/request_sample/306320 Scope of the Report: Furthermore, Biologics Drug Discovery Market report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers or
Oral Biologics Market Opportunity Analysis, 2018-2026
Oral biologics represent a novel category of drugs, which is gaining traction in the last few decades. Biologic therapeutics has proven to be a highly effective treatment for various chronic ailments, such as diabetes, plaque psoriasis, arthritis, plaque psoriasis, Crohn’s disease, and ulcerative colitis. The major concern regarding oral biologics is to protect the protein from degradation and digestion in the gastrointestinal tract. The first products were mostly insulin-related, novel
Global Spine Biologics Market Research Report 2017
The latest industry research report on Spine Biologics by MRC provides a thorough analysis of the global Spine Biologics market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Spine Biologics industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative
Spine Biologics Market Industry Analysis
Spine Biologics Market was worth USD 2.07 billion in 2016 and estimated to be growing at a CAGR of 4.4%, to reach USD 2.56 billion by 2021. Spine biologics are used during spine fusion surgery for the treatment of spinal deformities such as trauma, tumors, degenerative disc disease, and spinal cord injuries by stimulating bone growth formation through inflammatory stage, repair stage, and remodeling stage. Therefore, surge in the number of