Wilmington, Delaware, United States, Transparency Market Research, Inc. , Aug. 27, 2024 (GLOBE NEWSWIRE) -- As per the report published by Transparency Market Research, the global biologics market (생물학 시장) was worth US$ 515.6 Billion in 2022 and is expected to reach US$ 855.8 Billion by the year 2031 at a CAGR of 6.9 % between 2023 and 2031.
Biologics are therapeutic products made from living organisms or their components, including cells, proteins, or nucleic acids. Unlike conventional drugs (which are usually chemically synthesized), biologics consist of large, complex molecules that are produced using advanced techniques such as genetic engineering. Due to their complexity, biologics can closely replicate natural substances found in the human body, thereby allowing for more targeted and specific therapeutic actions.
A key advantage of biologics is their ability to target diseases at the molecular and cellular levels. Designed to interact with specific biological pathways and mechanisms, biologics address the root causes of various conditions more precisely. This targeted approach often leads to improved treatment outcomes and, in many cases, reduces the likelihood of adverse effects as compared to conventional drugs.
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A Slice of Biologics Market
Biologics are utilized across a broad spectrum of therapeutic areas, with notable advancements in oncology being a prime example. Monoclonal antibodies, a type of biologic, have transformed cancer treatment by specifically targeting cancer cells while preserving the healthy ones. This precision minimizes damage to surrounding tissues and reduces the side-effects typically associated with conventional chemotherapy.
In the context of autoimmune disorders, where the immune system incorrectly targets the body's own tissues, biologics can fine-tune specific components of the immune response. This targeted approach helps restore balance and alleviate symptoms without the extensive immune suppression often seen with traditional treatments.
As a result, biologics market size is poised for continued growth with several upcoming trends driving innovation. One of the major trends among them is increased demand for personalized medicine, developing biologic therapies based on the individual patient profile. This shift in focus is very much driven by the increasing prevalence of cancer, genetic disorders, and autoimmune diseases, together with approving new disease-modifying therapies.
Moreover, companion diagnostics can make the application of treatments more precise, and the need for it becomes more heightened with the products of biologics. For instance, research states that around 19.3 million cases were estimated to be reported globally in 2020, and the estimation for the year 2030 is about 24.6 million. Additionally, the prevalence of Alzheimer's disease is projected to be 78 million in 2030 and 139 million in 2050. Such a growing burden augments progressive demand for innovative therapies, including monoclonal antibodies and the other biologics.
- In January 2023, the U.S. FDA granted approval for Leqembi (lecanemab-irmb) through the Accelerated Approval pathway for the treatment of Alzheimer's disease. This biologic effectively reduces amyloid-β plaques in cerebrospinal fluid and slows cognitive decline in patients in the early stages of the disease.
The market has also witnessed the introduction of innovative therapies, including gene therapies, RNA interference treatments, and mRNA-based vaccines. The success of mRNA technology was notably highlighted by Pfizer’s Comirnaty, an mRNA-based COVID-19 vaccine, which led sales in the biologics market in 2021. This success has spurred further advancements, including Pfizer’s Phase 3 trials for an mRNA-based flu vaccine, demonstrating the ongoing potential and expanding scope of mRNA technology in treatment development.
What’s with Biologics Market Regional Insights
• North America dominated the market in 2023. The region is likely to maintain its dominance during the forecast period as well.
The rising incidence of chronic conditions such as cancer, autoimmune disorders, and cardiovascular diseases, continuous innovations in biologics including improvements in monoclonal antibodies, gene therapies, mRNA technology, favorable regulatory environments and expedited approval pathways such as the FDA’s Accelerated Approval pathway, significant investments by pharmaceutical companies and research institutions in order to the developer therapies are some of the leading factors driving the biologics market share in the region.
As per the American Cancer Society, in 2022, there were almost 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States.
Moreover, introduction of new biological products by the major market players is anticipated to drive significant growth in the U.S. biologics market. For example, in September 2023, Pfizer Inc. and BioNTech SE announced that the U.S. Food and Drug Administration (FDA) approved the supplemental Biologics License Application for the COMIRNATY 2023-2024 formulation, targeting individuals aged 12 years and older. Additionally, the FDA granted emergency use authorization for the companies' Omicron XBB vaccine for individuals aged six months to 11 years. These recent approvals highlight the ongoing innovation and expansion within the biologics sector, thereby contributing to its market growth.
Leading Key Players in Global Market
AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly, Gilead Sciences, Inc., GlaxoSmithKline, Johnson & Johnson Services Inc., Merck & Co., Inc. Novartis AG, Pfizer Inc. F. Hoffmann-La Roche AG and others are some of the leading key players operating in the global market.
Recent Key Developments in Biologics Industry
- In October 2023, Syngene International, a subsidiary of the biopharmaceutical major Biocon, has outlined an annual investment plan exceeding $100 million with a primary focus on research, biologics, and small molecules moving forward.
The company has made a cumulative investment of approximately US$ 5.36 Mn over the last 5 years. Out of this total, about 50% has been allocated to research activities, nearly 30 % dedicated to small molecules, and the remaining portion utilized for large molecules, IT, digitization, and the other needs.
Biologics Market Segmentation
Product
- Monoclonal Antibodies
- Recombinant Proteins
- Vaccines
- Cell & Gene Therapies
- Others
Application
- Oncology
- Autoimmune & Immunological Disorders
- Hematological Disorders
- Infectious Diseases
- Others (Cardiovascular Disorders, etc.)
Manufacturing
- Outsourced
- In-house
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