Brooklyn, New York, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Reports and Insights (R&I) has published a new report titled, “Biologics Market: Opportunity Analysis and Future Assessment 2022-2030” analyzed By Drug Class (Monoclonal Antibody, Vaccine, Recombinant Insulin, Human Growth Hormone, Blood Factor, Fusion Protein, Erythropoietin, Recombinant Enzyme, Interferon, Colony-stimulating Factor, Cell Therapy, Gene Therapy, Oligonucleotides and Others (Peptide, Botulinum Toxin, and Others), By Therapeutic Application (Oncology, Metabolic Disorders, Autoimmune/Immunologic Diseases, Ophthalmic Diseases, Inflammatory Bowel Diseases (IBDs), Respiratory Disorders, Neurological Disorders, Musculoskeletal Disorders (MSDs), Cardiovascular Diseases (CVDs), Infectious Diseases, and Others.), By Distribution Channels (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2030. The global biologics market was valued at US$ 294.4 Bn at the end of 2022 and is expected to reach at a value of US$ 529.3 Bn by 2030 with a significant CAGR of 7.6%.
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Biologics Introduction
Biologics, or a biologic drug, is a substance that is made from living creatures or comprises elements of living creatures. Biologic drugs consist of an extensive range of by-products obtained from microorganisms, animals, and humans by the usage of biotechnology. The various kinds of biologic drugs or biologics comprises blood and its components, cells, vaccines, genes, allergens, tissues, and recombinant proteins.
Biologics Market Dynamics
A biologic is created in a life system including animal or plant cells, or microorganisms that are majorly used to impede, diagnose, and to treat, or cure a wide range of illnesses such as chronic kidney disease, cancer, infectious diseases, and autoimmune disorders.
In the present times, the rising incidence of chronic diseases such as autoimmune diseases, diabetes, and cancer among the population owing to the lethargic lifestyle, poor diet, and desk-bound jobs is mainly encouraging the demand of biologics in the global market, thus propelling the growth of the global biologics market.
In addition to that, the constant research activities, across the world, resulting in therapeutic diversification of biologics across varied indicators such as allergic conditions, asthma, dyslipidemia and other non-conventional disease areas, is another major factor that is driving the overall growth of the global biologics industry.
However, due to the inadequacy of reimbursements for biologics as well as heavy cost, there is a shortage of biologics especially in mid to low-income economies around the world. Such factors may hold back the growth of the global biologics market over the coming years.
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Biologics Market Segmentation
The global biologics market is segmented on the basis of drug class, therapeutic application, distribution channel, and regions. On the basis of the drug class, the biologics market is segmented into Monoclonal Antibody, Vaccine, Recombinant Insulin, Human Growth Hormone, Blood Factor, Fusion Protein, Erythropoietin, Recombinant Enzyme, Interferon, Colony-stimulating Factor, Cell Therapy, Gene Therapy, Oligonucleotides and Others (Peptide, Botulinum Toxin, and Others). Based on therapeutic application, the market is bifurcated into Oncology, Metabolic Disorders, Autoimmune/Immunologic Diseases, Ophthalmic Diseases, Inflammatory Bowel Diseases (IBDs), Respiratory Disorders, Neurological Disorders, Musculoskeletal Disorders (MSDs), Cardiovascular Diseases (CVDs), Infectious Diseases, and Others. On the basis of the distribution channel, the market is categorized into Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies.
The research report classifies the global biologics market based on drug class, therapeutic application, distribution channel, and regions.
By Drug Class
Monoclonal Antibody
Vaccine
Recombinant Insulin
Human Growth Hormone
Blood Factor
Fusion Protein
Erythropoietin
Recombinant Enzyme
Interferon
Colony-stimulating Factor
Cell Therapy
Gene Therapy
Oligonucleotides
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By Therapeutic Application
Oncology
Metabolic Disorders
Autoimmune/Immunologic Diseases
Ophthalmic Diseases
Inflammatory Bowel Diseases (IBDs)
Respiratory Disorder
Neurological Disorders
Musculoskeletal Disorders (MSDs)
Cardiovascular Diseases (CVDs)
Infectious Diseases
Others
By Distribution Channels
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
Biologics Market Key Players
The global biologics market is dominated by Bristol-Myers Squibb Company (BMS), Merck & Co., Inc., Roche AG, Merck KGaA, AstraZeneca Plc, Regeneron Pharmaceuticals, Inc, Novartis International AG, Pfizer, Inc., Amgen, Inc., AbbVie, Inc., Sanofi S.A., Eli Lilly & Company, Novo Nordisk A/S, Johnson & Johnson, GlaxoSmithKline Plc, Teva Pharmaceutical Industries Ltd., Ipsen S.A., and Allergan Plc., among others.
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