Dublin, Oct. 14, 2021 (GLOBE NEWSWIRE) -- The "Global Biologics Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Biologics Market is likely to grow at a CAGR of around 9% during 2021-2026.
The growth of the market is associated with several factors, such as the surging expenditures in healthcare, a hike in the sedentary lifestyles of individuals, and the rising number of chronic disease patients.
Other factors driving the demand for biologics in the market include monoclonal antibodies for disease treatment and innovation & advancement in the healthcare & biotechnology sectors. Moreover, regulatory approval from the governments in different countries is also contributing to the growth of the Biologics market.
Spurring Demand for Biologics in Treatment of Chronic Diseases
Biologics are used profoundly for providing effective treatment for many complex diseases, such as rheumatoid arthritis and psoriasis, which have limited treatment options.
With the advent of technology and innovation in the healthcare sector, there has been a significant escalation in amenities & equipment for rheumatoid arthritis patients who do not respond to traditional disease-modifying anti-rheumatic drugs. The key biologics used for treating rheumatoid arthritis are Adalimumab, HumiraInfliximab (Remicade), Anakinra (Kineret), Abatacept (Orencia), and Rituximab (Rituxan).
Limitations in Production of Access Capacity
A successful product launch of biologics drugs needs a very long time for performing research and development activities. It also requires massive capital investments.
In addition to this, the production of biological drugs is a complex procedure, and stringent government regulations often delay the same. Hence, these factors restrain the growth of the Biologics market across the globe to a certain extent.
COVID-19 Pandemic Positively Impacted the Market
The impact of COVID-19 has been leading to numerous research initiatives in biologics to find a suitable cure. Due to the pandemic, the global investments in biologics increased due to continuous demand for producing small molecule drugs. Thus, with the increasing number of COVID-19 cases, the need for biologics increased significantly.
All the postponed treatments and consultations resumed in the last few months of 2020, which has resulted in aiding the number of treatment procedures using biologics. Hence, the Global Biologics Market is very likely to witness a significant surge in its growth rate in the forthcoming timeframe.
Vaccine Segment Accounted for the Largest Market Share
Based on the Product/Drug Class, the market bifurcates into Recombinant therapeutic Products, Monoclonal Antibodies, Hormones, Cytokines, Enzymes, Blood & Blood Components, Cellular & Gene Therapy, Vaccines, and Oligonucleotides. The vaccines segment acquired a considerable market share in the Global Biologics Market in the previous few years.
The segment growth owes to the increasing government & non-government initiatives for vaccine R&D activities and the prevention of various infectious diseases. Moreover, the development of bivalent & pentavalent vaccines that can prevent an individual from more than one disease worldwide is another factor likely to fuel the segment growth.
In-House Segment Dominated the Market
Based on Manufacturing Type, the market classifies into Outsource and In-house segments. Here, In-house manufacturing bagged the largest share in the Global Biologics Market in the previous few years.
It owes to numerous companies opting for in-house manufacturing than to purchase the entity or outsource it entwined with the massive investments made by CMO's for mushrooming commercial biopharmaceutical manufacturing capacity. However, the outsourcing segment is likely to showcase a gradual increase in demand in the coming years.
North America Attained the Highest Market Share
Geographically, North America held the largest market share in the Global Biologics Market in the previous few years. It owes to the spurring approvals in the US comprising larger patent protection than that in the European region. North America also witnessed the most prominent corona fatalities than other regions across the globe.
This grim societal scenario is pushing the pharmaceutical giants to invest in biologics in cohesion with the governments. Other factors fueling the market growth in the region are growing diabetes patients, a surging aging population, and the availability of several research centers.
Key Questions Answered
1. What are the overall market statistics or estimates (Market Overview, Market Size - by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Biologics Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Biologics Market?
4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Biologics Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Biologics Market study?
Major Companies Profiled
- AbbVie Inc.
- Amgen Inc.
- F. Hoffman La Roche
- Samsung Electronics
- Merck & Co.
- AstraZeneca PLC
- Bristol-Myers Squibb
- Novartis
- Pfizer
- Sanofi
For more information about this report visit https://www.researchandmarkets.com/r/ftham9
