A report on the global Biologic Therapy Market has been recently added by Market Research Future. The report, titled, “‘Biologic Therapy Market: Global Industry Analysis and Forecast, 2017-2023,” predicts that the market is anticipated to register a burgeoning high CAGR over the forecast duration. Global Biologic Therapy Market Analysis By Product Type (Kits and Reagents, Services), by Therapy (Protein Therapy, Vaccines Therapy), by Application (Cellular and Gene Therapy), and by End-User (Hospitals and Clinics and Specialty Centers) – Global Forecast Till 2023
The global biologic therapy market is growing pervasively, mainly due to the rising prevalence of cancer. Increasing numbers of the patient population and the increasing demand for biological & targeted drug therapies are other key growth drivers for market growth. Moreover, factors such as the advancements in technologies used in the treatment of chronic diseases and increasing spending in the research & development activities in the field of biologic therapy are accelerating the growth of the market.
According to Market Research Future (MRFR), the global biologic therapy market is expected to create colossal valuation by 2023. In its recently published analysis, MRFR also asserts that market would register approx. 6.1% CAGR over the estimated period (2017 – 2023). Additionally, rising innovations in the field of Cancer therapies & treatments and wide preference & high acceptance of biologic therapy led by the rising rate of successful outcomes drive the market growth of the market.
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Additional factors predominantly pushing up the market growth include advantages of biologic therapy, increasing rate of cancer survivors, growing demand for advanced cancer therapies, and the proliferation of cancer treatment facilities. Also, rising adverse effects associated with conventional therapies, such as recurrence of cancer and organ failure are spurring the growth of the market. Furthermore, increasing numbers of clinical trials and new approvals, alongside, the huge investments transpired by the key market players are boosting the growth of biological therapy market.
On the other hand, the adverse effects of drug therapy, stringent government regulations, and the high cost of drug development are expected to impede the growth of the market. Nevertheless, factors such as spreading awareness towards the advantages of biological therapies and rapid adoption, alongside, the increasing demand from emerging economies would support the market growth throughout the review period.
Biologic Therapy Market Key Players studied in report
Players leading the global biologic therapy market include Bristol-Myers Squibb, GlaxoSmithKline Plc., Celgene Corporation, Novartis International AG, Amgen Inc., Eli Lilly, Seattle Genetics, Inc., and Spectrum Pharmaceuticals, Inc., among others.
Biologic Therapy Market – Segments
The report is segmented into five market dynamics to widen the scope of understanding
By Product Type: Kits & Reagents, Services, and Instruments, among others.
By Therapy: Protein Therapy, Cell Therapy, and Vaccines Therapy, among others.
By Application: Vaccine & Therapeutics Development, Blood & Blood-Related Products Testing, Cellular & Gene Therapy, Tissue & Tissue-Related Products Testing, And Stem Cell Research, among others.
By End-user: Hospitals & Clinics and Specialty Centers, among others.
By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).
Biologic Therapy Market – Regional Analysis
North America leads the global biologic therapy market with the largest market share. The presence of well-developed economies, many large players, and proliferating healthcare sector are some of the dominating forces behind the regional market growth. Besides, increasing numbers of geriatric population, rising prevalence of cancer, alongside the increasing research & development activities in the biologic therapy sector, drive the regional market growth.
Besides, factors such as well penetrated health insurance coverage for severe diseases and expanded uptake of advent technology in the region foster the growth of the market.
North America and Europe markets contribute to the global biologic therapy market, majorly, due to their favorable infrastructure that supports the research and development. Biologic Therapy has a huge demand in both regions, which is expected to grow in the future.
Europe takes the second leading position in the global biologic therapy market, heading with the well-proliferated healthcare sectors and the resurging economy in the region. The availability of innovative & advanced treatment facilities, and rising skilled medical professionals, commutatively act as a major tailwind impacting the regional market growth. With the rising numbers of aging populaces, the European biologic therapy market is estimated to register a phenomenal CAGR throughout the forecast period.
The biologic therapy market in the Asia Pacific region is emerging as a lucrative market globally. Factors such as the spreading awareness about the healthcare and availability of new treatment methods act as significant growth propellers. Also, increasing demand for the latest treatment methods and the rapidly developing healthcare technology influences the market growth in the region.
Besides, growing healthcare expenditure, the rising standard of living, and the overall growth of the healthcare industry are some of the dominant factors driving the growth of the regional market. Moreover, increasing prevalence of cancer and other lifestyle-induced disorders, huge patient population, and high healthcare expenditures would provide impetus to the market growth in the region.
Biologic Therapy Market – Competitive Analysis
Highly competitive, the biologic therapy market appears to be fragmented due to the presence of several notable players. To gain a substantially large competitive advantage, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. Due to the increasing strategic partnerships, the structure of the market is changing rapidly. Besides, the growing competition in the market is encouraging multinational companies to acquire small yet promising companies operating in the developing markets.
Biologic Therapy Industry, Innovation & Related News
September 12, 2019 —- Castle Creek Pharmaceutical Holdings, Inc. (the US), the parent company of Castle Creek Pharmaceuticals, LLC announced that it has reached an agreement to acquire Fibrocell Science, Inc. (the US), a cell & gene therapy company focused on transformational autologous cell-based therapies for skin & connective tissue diseases. The acquisition further strengthens Castle Creek Pharmaceuticals as a leader in dermatology.
Fibrocell utilizes its proprietary autologous fibroblast technology to develop personalized biologics that target the underlying cause of disease. Fibrocell’s portfolio includes FCX-007, an investigational, late-stage gene therapy product. It’s Phase III trial was initiated recently, which if successful, would lead a Biologics License Application (BLA) filing in 2021.
August 29, 2019 —- Amgen Inc. (the US), a multinational biopharmaceutical company, announced that it is set to acquire Otezla (the US), a pharmaceutical company developing medicines for the treatment of certain types of psoriasis & psoriatic arthritis. The acquisition offers an opportunity for Amgen to provide patients with an innovative oral therapy for psoriasis & psoriatic arthritis that fits squarely within Otezla’s portfolio and complements its Enbrel and Amgevita brands.
Table Of Content
1. Report Prologue
2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
5. Market Factor Analysis
LIST OF TABLES
Table 1 Prescribed Biologic Therapy Industry Synopsis, 2017–2023
Table 2 Global Biologic Therapy Market Estimates And Forecast, 2017–2023, (USD Million)
Table 3 Global Biologic Therapy Market, By Region, 2017–2023, (USD Million)
Table 5 Global Biologic Therapy Market, By Type, 2017–2023, (USD Million)
Table 6 Global Biologic Therapy Market, By Application, 2017–2023, (USD Million)
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