Pune, Jan. 03, 2024 (GLOBE NEWSWIRE) -- The global biologics market is expected to register a rapid revenue CAGR of 6.9% during the forecast period. This growth can be attributed to factors such rising number of product launches, high prevalence of various types of chronic diseases, and increasing adoption of biologic drugs.
Biologics are a class of therapeutic drugs derived from living organisms such as animals, microorganisms, and human cells. These are large, complex molecules including proteins, antibodies, or nucleic acids that help in targeting specific molecules involved in disease processes.
Biologics have high specificity and their complex nature makes them a powerful tool for treating many types of autoimmune diseases, cancer, infectious diseases, and genetic disorders. These biologics encompass a wide range of products such as monoclonal antibodies, hormones, enzymes, and vaccines and are preferred due to longer half-life allowing for less frequent dosing and better patient compliance.
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Factors such as rapid advancements in biotechnology, patent expirations, favorable support from regulatory agencies such as the FDA and EMA, and rising investments by pharmaceutical and biotechnology companies in R&D for biologics are expected to boost global market growth over the forecast period.
However, factors such as high production and manufacturing costs, time-consuming and rigorous regulatory challenges, and concerns regarding immunogenicity are expected to hamper overall market growth during the forecast period.
Some Key Highlights from the Report:
- Based on manufacturing, the outsourced segment is expected to register robust revenue CAGR over the forecast period. This can be attributed to rising number of companies providing outsourcing services, high preference for outsourcing due to high initial investments required for setting up and maintaining a biological manufacturing facility, enhanced flexibility, scalability, and access to expertise through outsourcing.
- North America is expected to account for the largest revenue share during the forecast period owing to rising prevalence of different complex chronic diseases, presence of well-established healthcare and pharmaceutical facilities and infrastructure and leading companies, and rising investments in R&D projects to develop targeted drugs.
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- Novartis AG., AstraZeneca PLC., Bayer AG., Sanofi SA., Pfizer Inc., Merck & Co., Johnson and Johnson, GlaxoSmithKline PLC., Amgen Inc., AbbVie Inc., F. Hoffmann-La Roche AG., Eli Lilly and Company., and AGC Biologics are some of the leading companies operating in the global biologics market.
- In October 2023, ATCC and US Pharmacopeia announced the launch of the first joint products to reduce the risks and enhance the quality of biological therapeutics and vaccines.
Report Coverage:
| Report Details | Outcome |
| Base Year for Estimation | 2022 |
| Historical Data | 2018-2021 |
| Forecast Period | 2023-2032 |
| Segments Covered: | Source Type, Product, Manufacturing, Disease and Region |
| By Source Type | Microbial, Mammalian |
| By Product | Monoclonal Antibodies, Vaccines, Recombinant Proteins, Antisense & RNAi Therapeutics, Others |
| By Manufacturing | In-house, Outsourced |
| By Disease | Oncology, Infectious Diseases, Immunological Diseases, Cardiovascular Disorders, Hematological Disorders, Others |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Country Scope | United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey |
| Qualitative Info |
|
| Key Players | Novartis AG., AstraZeneca PLC., Bayer AG., Sanofi SA., Pfizer Inc., Merck & Co., Johnson and Johnson, GlaxoSmithKline PLC., Amgen Inc., AbbVie Inc., F. Hoffmann-La Roche AG., Eli Lilly and Company., and AGC Biologics |
| Customization Scope | 10 Hours of Free Customization and Expert Consultation |
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Competitive Landscape:
The global Biologics market is extremely competitive, comprising several key regional and global players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- Novartis AG.
- AstraZeneca PLC.
- Bayer AG
- Sanofi SA.
- Pfizer Inc.
- Merck & Co.
- Johnson and Johnson
- GlaxoSmithKline PLC.
- Amgen Inc.
- AbbVie Inc.
- F. Hoffmann-La Roche AG.
- Eli Lilly and Company
- AGC Biologics
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The global Biologics Market has been segmented based on source type, product, manufacturing, disease, and region:
By Source Type:
- Microbial
- Mammalian
By Product:
- Monoclonal Antibodies
- Vaccines
- Recombinant Proteins
- Antisense & RNAi Therapeutics
- Others
By Manufacturing:
- In-house
- Outsourced
By Disease:
- Oncology
- Infectious Diseases
- Immunological Diseases
- Cardiovascular Disorders
- Hematological Disorders
- Others
By Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
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