Biologics Market Size to Worth Around US$ 719.84 Bn by 2030

Ottawa, April 20, 2022 (GLOBE NEWSWIRE) -- The global biologics market size was valued at US$ 366.43 billion in 2021. A biologic medication is a product that is made from live organisms and contains living organism components. Recombinant protein, tissues, allergens, genes, cells, blood components, blood, and vaccinations are all examples of biologics. Anemia, hemophilia, chronic migraine, hepatitis B, rheumatoid arthritis, inflammatory bowel disease, and other disorders and infections are treated with biologics. Various government efforts, higher share of biologics in the market, and rising use of biopharmaceuticals over chemically produced molecules, and many other factors are driving the biologics market expansion in the forecast period.

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Due to the productivity of tiny molecules and therapeutic research and development is dropping, biologics are projected to grow rapidly in the next few years. To maintain their market image and position, the key firms of pharmaceutical sector are focusing on the introduction and development of many biopharmaceutical medications. In addition, scientists and researchers are researching more species and types of biological medicines. The growth in revenue is expected to be fueled by the growth and development of reagents and cells that improve the overall productivity of biological medications.

Scope of the Biologics Market

There are number of constraints and problems that could hinder the growth of global biologics market during the forecast period. Biologics are sensitive to heat and light and they require an effective cold weather or temperature technique that is not consistent over the globe. This has the potential to operate as a market constraint for biologics.

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Report Highlights:

• Based on the source, the microbial segment dominated the global biologics market in 2020 with largest market share. The large number of biological medications is prepared with the help of microbial.
• On the basis of product, the monoclonal antibodies segment holds the largest market share the global biologics market in 2020. The use of monoclonal antibodies in the management and control of disorders such as cancer can be linked to the causes of various disorders. It can also be used to target diseased cells while causing no harm to good cells of the human body.
• Based on the disease, the oncology segment dominated the global biologics market in 2020 with largest market share. This is attributed to the rising prevalence of cancer around the globe, which creating demand for biological drugs on large scale.
• North America is the largest segment for biologics market in terms of region. This is due to an increasing number of biology and technological businesses, the existence of major players in pharmaceutical sector, and the growing prevalence of chronic illness occurrences.
• Asia-Pacific region is the fastest growing region in the biologics market. This is attributed to an increase in the number of diabetes and cancer patients, government initiatives for promotion of biologics, and rise in overall healthcare costs.
  
  

Future of Biologics Market

The expansion of the biologics market is likely to be boosted by an increase in the incidence of chronic diseases, the loss of patent extensions for branded pharmaceuticals, and the growing availability of advanced diagnostics. Furthermore, market growth is expected to be fueled by advancements in biologics manufacturing technology. However, the market is hampered by the difficulties of manufacturing biologic pharmaceuticals and the processes needed in maintenance, such as preventing environmental contamination and maintaining refrigeration processes, among other things. The rise in demand for improved diagnostics for therapeutic purposes, as well as the expiration of branded medicine patent extensions, gives opportunities for the worldwide biologics market to flourish.

COVID-19 Impact Analysis:

• Due to prevalence of populations with high risk to the COVID-19 pandemic, regulators are more willing to allow manufacturing of micro molecule medications to continue than in the past.
• The healthcare sector is implementing strong plans to reach the goal, which entails ongoing biological drugs and medicines manufacturing, hence strengthening the biologics manufacturing industry.

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Key Developments in the Marketplace:

• In August 2021, Moderna Inc. stated that it had completed the rolling application process to the FDA for full licensing of the Moderna COVID-19 vaccine for active vaccination to prevent COVID-19 in people aged 18 and higher.
• In August 2021, Pfizer Inc. and BioNTech SE announced that they have begun a supplemental Biologics License Application with the FDA to get approval for a booster dosage of COMIRNATY to prevent COVID-19 in patients aged 16 and up.
• Biocon Biologics is in talks with ADQ, the Abu Dhabi government's wealth fund, to advance financing as India's largest biosimilar maker grows its production to generate value for stakeholders ahead of an expected IPO.
  
  

Market Segmentation

By Source

• Microbial
• Mammalian
• Others
  
  

By Product

• MABs
• Vaccines
• Hormones
• Therapeutic Enzymes
• Recombinant Proteins
• Antisense, RNAi & Molecular Therapy
• Blood Factors and Anticoagulants
• Allergenic extracts
• Human Cells and Tissues
• Proteins
• Gene Therapies
• Cellular Therapies
• Others
  
  

By Disease

• Oncology
• Immunological Disorders
• Cardiovascular Disorders
• Hematological Disorders
• Others
  
  

By Manufacturing

• Outsourced
• In-house

By Route of Administration

• Oral
• Others (IV and IP)

By Drug Classification

• Branded Drugs
• Generic Drugs

By Mode of Purchase

• Prescription Drugs
• Over-The-Counter (OTC) Drugs

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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