Jersey City, NJ, April 17, 2023 (GLOBE NEWSWIRE) -- The Global Biologics Market is estimated to reach over USD 718.97 billion by 2031, exhibiting a CAGR of 7.50% during the forecast period.
A biological drug is a substance derived from or containing living organism components. Biologics include recombinant proteins, tissues, allergies, genes, cells, blood components, and vaccines. Biologics treat anemia, hemophilia, chronic migraine, hepatitis B, rheumatoid arthritis, inflammatory bowel disease, and other illnesses and infections.
Numerous government initiatives, a bigger market share of biologics, increased use of biopharmaceuticals over chemically manufactured molecules, and a variety of other factors are driving the biologics market expansion throughout the projection period. Additionally, rapid developments in biotechnology have boosted biologics' phenomenal success.
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Fast advances in biotechnology, funding, government efforts, and collaborations have all led to biologics' enormous success. New advances in the fields of antibody-drug conjugates, immunotherapies, and cell and gene treatments are helping to drive the biologics market forward.
Recent Developments:
- In February 2022, The Janssen Pharmaceutical Companies of Johnson & Johnson obtained the United States Food and Drug Administration (FDA) approval for CARVYKTI (ciltacabtagene autoleucel; cilia-cel). This drug is used to treat adults with refractory or relapsed multiple myeloma (RRMM), including an a proteasome inhibitor, immunomodulatory agent, and an anti-CD38 monoclonal antibody.
List of Prominent Players in the Biologics Market:
- Abbvie Inc.
- Amgen
- AstraZeneca
- Bayer AG
- Celltrion Inc.
- Addgene
- Eli Lilly & Company
- F. Hoffmann-La Roche Ltd
- GSK group of companies
- Johnson & Johnson Services, Inc
- Merck & Co. Inc
- Novartis AG
- Novo Nordisk A/S
- Pfizer Inc.
- Precision Biologics, Inc.
- Samsung Biologics
- Sanofi
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Biologics Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 382.17 Bn |
| Revenue forecast in 2031 | USD 718.97 Bn |
| Growth rate CAGR | CAGR of 7.50 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Source, Product, Disease, Manufacturing, Route of Administration, Drug Classification, Mode of Purchase, Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
The rising frequency and diagnosis of chronic diseases have demanded the availability of sophisticated diagnostics and treatment medications, which has fueled the worldwide biologics market. Biologics are drugs that have been genetically engineered to target a specific immune system component that causes inflammation. With the emergence of coronavirus diseases, governments all over the world are taking steps to fortify the healthcare industry and ensure the supply of biologics. Additionally, researchers and specialists are investigating species and expression systems in order to increase the production of biological products.
Challenges:
Some medications are said to have unexpected effects on immunological function, resulting in serious infections. Patients receiving biologics that impair certain immune system activities are more likely to develop a variety of opportunistic infections. This factor may impede biological therapy acceptance, negatively impacting revenue production.
Regional Trends:
The North American biologics market is expected to register a major market share in terms of revenue and is projected to develop at a high CAGR in the near future due to an increasing number of biological and technological firms, the existence of big participants in the pharmaceutical sector, and the growing prevalence of chronic sickness occurrences. In addition, ongoing efforts by regulators, policymakers, and the pharmaceutical industry to address both the affordability and availability of biologics, particularly mAbs, are expected to boost the European biologics market size in the future years.
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Segmentation of Biologics Market-
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 Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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