Biologics Market Report include on MarketResearchFuture.com with Extensive Study. The report aims to provide an overview of Biologics Market Report. Detail analysis on possible segments and sub segments of the market. – Forecast till 2023
Biologics also referred to as a biologic drug, is generally produced from living organisms and contain components of living organisms. Biologics can also be derived from animal, human, or microorganisms with the help of biotechnological techniques. It comprises products like blood and blood components, vaccines, somatic cells, allergenic, tissues, gene therapy, and recombinant therapeutic proteins. The Global Biologics Market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 6.95%, surpassing a valuation of USD 285,520.4 million during the forecast period (2018-2023).
The biologics market is highly driven by the increasing capital investment from the major industry players, increasing incidences of chronic diseases, higher acceptability and surging demand for innovative therapies, and loss of patient exclusivity of leading biologic drugs. The advent of targeted therapies and surging adoption of patient-centric personalized medicine are some of the primary growth stimulants of the biologics market across the globe. Factors involved in heterologous gene expression and protein production, along with the increasing understanding of the cell physiology and stress have further empowered the use of living factories.
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Soaring adoption of biopharmaceuticals over chemically synthesized molecules will augment revenue generation globally. Moreover, the existence of multiple metabolic disorders, which can be treated with the use of biologics will encourage the market demand across the globe.
On the contrary, deployment of biosimilars will restrict the market growth in the foreseeable future. Moreover, strict regulatory mandates for the approval of biologics will deter its growth in the years to come.
Global Biologics Industry Competitive Analysis
The increasing research and development expenditure for new product launch by the manufacturers in the global market is strengthening the competition in the global biologics market. The players in the market are focusing on the expansion of their business through strategic mergers and acquisitions in order to sustain the highly competitive environment of the global biologics market.
The top players operating in the biologics market include
- Pfizer Inc. (U.S.),
- AbbVie, Inc. (U.S.),
- Novartis AG (Switzerland),
- AstraZeneca (U.K.),
- Bayer AG (Germany),
- F. Hoffman-La Roche AG (Switzerland),
- Sanofi (France),
- Amgen (U.S.),
- GlaxoSmithKline Plc (U.K.),
- Eli Lilly and Company (U.S.), and others.
WuXi Biologics and NBE-Therapeutics (NBE) have entered into a partnership, and are in the process of developing and manufacturing NBE’s first ADC lead product known as NBE-002 (anti-ROR1). The product refers to an immune-stimulatory ADC (iADC) treatment that protects against ROR1 cancer target.
March 2019: Crescendo Biologics Ltd., the drug developer of targeted T-cell improving therapeutics, has recently declared that they have won the award for Life Science Innovation at the 2019 Business Weekly Awards.
Segments for Global Biologics Market
The global biologics market has been segmented on the basis of product, disease indication, and manufacturing.
By product, the biologics market is segmented into interleukins, monoclonal antibody, growth factors, vaccines, gene therapy, and others. Of these, the monoclonal antibody segment held 33% of the market share in 2017. The segment will surpass a valuation of USD 92,597.4 million by the end of 2023, registering a CAGR of 3.44% due to the rising use of monoclonal antibodies to improve the immunity system of the body.
By disease indication, the market is segmented into cancer, psoriasis/psoriatic arthritis, rheumatoid arthritis, diabetes, and others. Of these, cancer held 19.2% of the market share in 2018. Meanwhile, the rheumatoid arthritis segment is likely to gain prominence due to the rapid approval of several drugs by the regulatory agencies.
The manufacturing segment comprises sourced and in-house. Of these, the sourced segment will expand at a rapid pace due to the existence of pharmaceutical companies in developing nations, which can research formulations at a reasonable price.
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Regional Analysis for Global Biologics Market
Geographically, the biologics market spans across Europe, America, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific is predicted to register the highest CAGR of 5.53%. The growth can be credited to the existence of several contract manufacturing organizations. Growth in geriatric populace, coupled with the changing healthcare sector, are considered some of the primary growth stimulants of the regional market. In this region, India is considered to be a major contributor to the market’s revenue, mainly due to the huge strides in manufacturing biologics.
America will command a large share of the biologics market, mainly due to the extensive adoption of manufacturing technologies, coupled with strong economic growth of Canada and the U.S. High investments in new facilities in order to produce drugs for clinical trials will augment the market growth in the foreseeable future. In this region, North America is likely to lead the market due to the rising prevalence of chronic diseases, existence of well-established pharmaceutical companies, and rising number of biotech companies. The presence of industry bigshots like Bristol-Myers Squibb, Johnson & Johnson, AbbVie Inc., and others are making the biologics market more accessible in the U.S.
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