Pune, March 06, 2023 (GLOBE NEWSWIRE) -- According to Market.us, the global biologics market accounted for USD 382 billion in 2022. and is projected to reach USD 893 billion by 2032, exhibiting a CAGR of 9.1% in the forecast period (2023-2032). Biologics allow cutting-edge scientific research and the latest discoveries. These discoveries could lead to the development of new treatments. Because of a better understanding of certain diseases' genetic and molecular causes, it is possible to create targeted treatments. Recombinant proteins aid the immune system in identifying and attaching foreign substances.
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Key Takeaway:
- By source, the microbial segment dominated the market in 2022.
- By product, the MAB segment lead the biologics market share in 2022.
- By disease, the largest share of the market was occupied by the oncology segment in 2022.
- By manufacturing, in-house manufacturing is anticipated to be the preferred method over the forecast period.
- North America held the largest market share of 74% in 2022.
- During the forecast period, Asia Pacific is predicted to have the highest CAGR for the biologics market.
Biotechnology will experience significant growth due to the decline in productivity of small-molecule drug R&D. These novel and well-known treatments will be more popular with moderate patients due to their increased efficacy in Crohn's disease and rheumatoid diseases. Biopharmaceutical production will increase with the development of manufacturing capabilities. These innovations include single-use systems for manufacturing and processing biopharmaceuticals. Researchers are also trying to find new species and expression methods. Revenue generation of biologics market is expected to be stimulated by the development of cell lines and reagents.
Factors affecting the growth of the biologics industry?
Several factors can affect the growth of the biologics industry. Some of these factors include:
- Research & Development: Research about new biologic drugs and continuous clinical development of products is amplifying this market's revenue growth.
- Technological Advancements: The technological advances in biotechnology are aiding the introduction of better quality products, thus boosting the biologics market's financial growth.
- Government initiatives: The increase in investments in R&D activities aimed at the development of high-quality products as well as towards the betterment of healthcare infrastructure, primarily in developing nations, are anticipated to augment this market's profit margins.
- Rising prevalence of chronic diseases: Rising prevalence of chronic diseases such as cancer, diabetes, and heart diseases is creating the necessity for biologics, eventually aiding the market's growth.
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Top Trends in Global Biologics Market
The increasing incidence and diagnosis of chronic diseases are ameliorating global biologics sales. As a result, new diagnostics and treatments have been developed over the period of time. Biologics can also be genetically engineered to target inflammation in the immune system. Researchers and scientists are also studying the expression of species to increase the effectiveness and productivity of biological products. For example, researchers are trying to improve oral treatments for Crohn's and other rheumatoid diseases.
Market Growth
Research is being conducted for new biologic drugs, such as nanobodies and fusion proteins, among others. The monoclonal antibody has been the most popular approved biologic drug to date. Several such products are currently in clinical development. Once approved, they are expected to fuel the biologics market growth. For example, the US approvals of Tidvak (an anti-drug conjugate) and Abecma (a cell-based treatment for gene disorders) are expected to drive market growth.
The immense success of biologics has been made possible by biotechnology's rapid advances. Biotech funding, collaborations, rapid biotech advancements, and government initiatives have all contributed to the massive success of biologics. The market is also observing new immunotherapies, antibody-drug conjugates, and cell & gene therapy developments. Biocon Biologics, an Abu Dhabi-based company, was awarded a US$ 75 million investment in January 2021. Such investments are crucial in the growth and advancement of the biotechnology sector, which plays a vital role in expanding the biologics market.
Regional Analysis
The US FDA approved 21 BLAs in 2021. Due to increased R&D spending and various FDA-approved biologics, the US market holds a significant portion of the global biologics market in 2022.
In Europe, the advances in the manufacturing of drugs, favorable reimbursement, multiple drug approvals, and increased target patient population are the factors for this market's expansion. Among all the markets in Europe, Germany holds the largest market share for biologics.
The continual efforts of regulators, policymakers, and the pharmaceutical industry to make biologics more affordable and accessible in China will ensure that the market for Chinese biologics continues to grow, ultimately helping the Asia Pacific market.
Competitive Landscape
Major players like Eli Lilly & Company, F. Hoffmann-La Roche Ltd, and Sanofi SA dominate this market.
The pharma-biotech sector requires significant capital investments and is highly dependent on research. Therefore, companies that are innovators must patent their products to protect their intellectual property rights. In addition, companies are creating delivery devices to gain an advantage over their competitors in the market space.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 382.81 Billion |
| Market Size (2032) | USD 893.83 Billion |
| CAGR (from 2023 to 2032) | 9.10% |
| North America Revenue Share | 74% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The rising prevalence of chronic diseases is one of the major drivers of the global biologics market. Diabetes, heart disease, and cancer are some of the most prevalent chronic conditions. Globocan, predicts that cancer incidence will rise from 19.3 million in 2020 to 24.6 million in 2030. It is also expected that there will be around 587 million diabetes-related patients by 2030. Biotechnology has made it possible to develop biologics for chronic conditions. Products have evolved over a period of time from monoclonal antibodies to targeted drugs such as antibody-drug conjugates and radio immunotherapies. Bispecific antibodies can also be used to target multiple sites simultaneously. As of January 2022, there were 33 biosimilars approved in the United States. Furthermore, biosimilars have saved approximately USD 6.1 million in Europe. Factors such as these are the main drivers of this market's growth.
Market Restraints
Biosimilars are pharmaceuticals with the same properties as approved biological drugs. Biosimilars are being encouraged by governments around the world to reduce healthcare costs. The EU has been approving biosimilar medicines since 2003. These less expensive alternatives to biologics increase the market's competitiveness, lowering market prices and augmenting market value. This can also slow down this market's growth. The approval and uptake of biosimilars will limit the global biologics market growth over the forecast period. Several chronic diseases have been treated with biologic therapy. Biologic therapy can lead to severe infections if side effects are present. Patients taking biologics that alter certain immune functions are at greater risk of developing unwanted illnesses. This could reduce revenue generation prospects and negatively impact the adoption rate for biologic therapy.
Market Opportunities
Technological advancements are expected to create continual opportunities during the forecast period. Eli Lilly and Company and Pfizer Inc., have used Amazon's Elastic Compute Cloud platform (EC2) to create simulation models to aid early drug discovery, and these models were ready within hours. Whereas, traditional models take weeks of preparation time. Lilly also created the Open Innovation Drug Discovery program to increase biologics research and development. These technological advances are expected to reduce costs and speed up the development process of biologics, which is anticipated to enable companies to launch their products at a faster rate.
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Report Segmentation of the Biologics Market
Source Insight
Microbial Expression Systems generated the highest revenue due to the high number of drugs they produce. Microbial expression systems often cover Escherichia Coli and yeast. Products developed by these systems include recombinant insulin, granulocyte-macrophage colony-stimulating factor, platelet-derived growth factor, and recombinant interferon. Novartis and Johnson & Johnson are two companies that have embraced microbial systems.
Product Insight
The monoclonal Antibody segment (MAB) was the largest market for biologics, mainly due to their increasing use in multiple therapeutic areas. Monoclonal antibodies can kill sick cells while not affecting healthy cells. The vaccine industry is expected to grow rapidly in the next few years because they are used as prophylactic measures in infectious diseases.
Disease Insight
Due to an increase in cancer incidence and several R&D projects, the largest R&D investments are made in oncology. Antisense and gene therapies are available for the eradication of cancer. The market will remain dominated by oncology over the forecast period. This is due to the increase in acceptance of products that can lower chemotherapy's negative effects on cancer patients.
Manufacturing Insight
Manufacturing is an important step of biologics production. It is also responsible for a significant share of the market. It is important to consider the manufacturing method, as it encompasses both in-house and outsourced activities. Many companies prefer manufacturing their products rather than purchasing an entity or outsourcing services. This has led to a higher percentage of biologics manufacturing is done in-house. Companies can invest in their bioprocessing capabilities. CMOs have the option to invest in commercial biopharmaceutical manufacturing. Outsourcing contracts are less valuable than the overall market. They wouldn't be able to drive the same growth in the sector as the pharmaceutical market.
Distribution Channel Insight
The hospital pharmacies segment will be a steady source of revenue for the foreseeable future. Also, manufacturers are focused on emerging markets because of the rising popularity of e-commerce platforms in developing nation like China, India, Brazil, etc.
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Market Segmentation
By Source
- Microbial
- Mammalian
- Others
By Product Type
- 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 Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- Amgen Inc.
- F. Hoffmann-La Roche Ltd
- AbbVie Inc.
- AstraZeneca plc
- Merck KGaA
- Sanofi S.A.
- GlaxoSmithKline plc
- Johnson & Johnson
- Pfizer Inc.
- Novartis AG
- Eli Lilly and Company
- Other Key players
Recent Development of the Biologics Market
- February 2021: GlaxoSmithKline plc announced a EUR 150 Mn new collaboration with CureVac N.V. to build on their existing relationship. The collaboration aims to develop next-generation mRNA vaccines (COVID-19) jointly and to address evolving variants in a single vaccine.
- April 2021: BMS announced plans to build a new Dutch manufacturing facility for its cell therapy division.
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