Biologics Global Market Key Players – AbbVie, Amgen, Biogen Idec, Bristol-Myers Squibb – Analysis and Forecast to 2027

Biologics are compounds of pharmaceutical importance such as sugars, proteins, and nucleic acids or complex combinations of these substances, or they can be living entities by themselves which are inclusive of such cells and tissues. Biologics can be isolated from natural sources including human beings, animal, or microorganism, and may be produced by biotechnological procedures through various cutting-edge technologies. Gene-based and cellular biologics are at the forefront of various biomedical research, and can be used as novel strategy for the treatment of a variety of medical conditions. Rising prevalence of different chronic and acute diseases such as cancer, diabetes, besides others, and increasing demand for the better and biological therapy drives the growth of the market during the forecast period. According to the National Cancer Institute in 2016, approximately, 1,685,210 new cases of cancer were diagnosed in the U.S. and 595,690 people died from the disease. Moreover, it was estimated that the national expenditures for cancer care in the U.S. could reach from USD 125 billion in 2010 to USD 156 billion by 2020. Additionally, growing geriatric population and rising healthcare expenditure boosts the market growth. According to the Johns Hopkins University, for people who are over the age of 65 years, there is an 11-fold increased incidence of developing cancer as compared to younger individuals. Moreover, according to the Population Reference Bureau, the number of the Americans who age 65 or more is projected to reach over 98 million by 2060. However, the market growth can be restricted by the long term approval time and high cost for environmental condition management.
The Global Biologics Market is growing with a sound pace. According to a recent study report published by the Market Research Future, the Global Biologics Market is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a sound growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2027).

Key Players for Biologics Market:
AbbVie, Amgen, Biogen Idec, Bristol-Myers Squibb, Eli Lilly and Company, GlaxoSmithKline plc., Johnson and Johnson, Merck and Co., Merck KGaA, Novartis, Pfizer, F. Hoffmann-La Roche Ltd, and Sanofi are some of the prominent players at the forefront of competition in the Global Biologics Market and are profiled in MRFR Analysis.

Global Biologics Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global biologics market appears to be highly competitive and fragmented. International players are expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

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Merck KGaA is one of the prominent players in the Global Biologics Market and is headquartered in Darmstadt, Germany. In January 2017, the company acquired acquired BioControl Systems Inc., a global leader in food safety testing. The acquisition opened growth opportunities for Merck in the food and beverage space; particularly in the U.S.
In August 2016, FDA approved Pfizer's TROXYCA ER extended-release capsules CII for pain management. This drug is used for abuse-deterrent properties for the management of pain and will help Pfizer to improve their goodwill and sales with this new product
In April 2017, F. Hoffmann-La Roche Ltd. received 510(k) clearance from the U.S. FDA for the CINtec Histology test. This test is the only clinically validated p16 biomarker test. The CINtec Histology test will help physicians make informed decisions as to the best course of care for patients with high-grade pre-cancerous cervical disease.

Segments:
Global Biologics market has been segmented on the basis of product type which comprises of vaccines, blood and blood products, allergenic extracts, human cells and tissues, proteins, gene therapies, cellular therapies, xenotransplantation products and others. On the basis of applications, which consist of Rheumatoid arthritis, renal failure, Anemia, Cancer, Diabetes and others. On the basis of Source, which consist of Humans, Avian Cell Culture, Yeast, Bacteria, Insects Cell Culture, Transgenics and others.

Global Biologics Market - Regional Analysis
Geographically, the North America has the largest biologic drug market. Due to increasing prevalence of diseases like Cancer and diabetes in the North America is the major factor for the growth of the market. North America is followed by Europe in biologic market. Asia Pacific is the fastest growing region for biologic market. Biologic market growth of Asia Pacific is majorly driven by Japan, China and India. Beside this a huge population base in this region has provided a fuel for the growth of the market. Middle East and Africa has the least biologic market.

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This release was published on openPR.