Biologics Market | Key Opportunities And Forecast 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.
Request to download and view full ToC -
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 view Sample Report -
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.
Biologics Market Report is available @ US$ 5795
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.
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 | Key Opportunities And Forecast 2024 here
News-ID: 753109 • Views: 131
More Releases from Transparecny Market Research
Aluminium Pan Market - Business Strategies With Major Key Players | Groupe SEB, …
Aluminium Pan Market: An Overview The need for low price, strong and lightweight cookware urged the companies to manufacture aluminium pan. The pan is cheap and durable as compared to other pan made from different materials. It is extensively used in household works because of its budget cost and various advantages. Aluminium pan is cost-effective, fire resistant, and is a good conductor of heat. This pan is temperature resistant and does
Hog Production and Pork Market to Reach a Valuation of ~US$ 464 Bn by 2027: Tran …
Hog Production and Pork Market: Introduction A recent study published by Transparency Market Research on the hog production and pork market includes global industry analysis and opportunity assessment for 2019-2027. The global hog production and pork market is expected to be valued at ~US$ ~398 Bn in 2019, which is projected to rise at a CAGR of ~2%, to reach a value of US$ 464 Bn by 2027. Obtain Report Details: https://www.transparencymarketresearch.com/hog-production-pork-market.html Pork
2,3-Butanediol Market 2027 - Demand and Sales Forecasts, Market Share, Market Si …
2,3-Butanediol Market – Production to Move from Pilot Plants to Full-scale The ~3% CAGR of the 2,3-butanediol market during 2019-2027 is emblematic of a nascent phase of the industry, which currently possesses narrow channels of commercialization. To infiltrate proper education regarding the use of this chemical as a precursor, manufacturers are making investments towards the development of pilot plants. View Full Report @ https://www.transparencymarketresearch.com/2-3-butanediol-market.html According to the research, the demand for 2,3-butanediol as
2-Ethylhexanoic Acid Market To Reach US$ 1.46 Bn By 2026
Overview The research report provides valuable insights into demand drivers, geographical outlook, and competitive landscape of the 2-Ethylhexanoic Acid Market for the 2017-2025 forecast period. Further, it throws light on restraints as well discusses opportunities at length that are likely to come to the fore over the forecast period. The analysis thus provided helps Market stakeholders with business planning and to gauge scope of expansion in the 2-Ethylhexanoic Acid Market over
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
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
Biologics Market : Analysis & Trends 2024
Global Biologics Market: Scope and Methodology This report provides forecast and analysis of the global biologics market on the global and regional levels. It provides historical data of 2015 along with forecast from 2016 to 2024 in terms of revenue (US$ Mn). The report also includes macroeconomic indicators along with an outlook for biologics revenue annually. It includes drivers and restraints of the global biologics market and their impact on each