According to the current analysis of Reports and Data, the Global Biologics Market was valued at USD 281.42 million in 2019 and is expected to reach USD 700.04 million by the year 2027, at a CAGR of 11.9%. The study covers Biologics, a drug that contains living organisms or their specific components or by-products. Biologic medicines are usually injected into the patient’s body because of its large molecular size (200-1000x) and fragile molecular structure. Parts of organisms like their cells, tissues, recombinant proteins, genes, allergens, blood or blood components, and vaccines are used in biologics drugs. Biologics are used for the treatment of various diseases and conditions like anemia, cancer, and other autoimmune diseases. Biologics are changing the ways doctors treat common conditions that have plagued individuals for years. Biologics have various potential advantages as they can, theoretically, be customized to hit specific ‘gene targets’ in the human body.
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AbbVie’s Humira (adalimumab) – a drug used to treat autoimmune disorders such as rheumatoid arthritis. Biologics products, including those which are manufactured by biotechnology, are heat sensitive and susceptible to contamination. Hence, it is essential to maintain aseptic conditions from the initial manufacturing process until the end of the production. Biologic drugs have witnessed a significant success rate, notably in cancer and autoimmune diseases. The new developments in the field of immunotherapies, gene and cell therapies, and antibody-drug conjugates, will contribute to the expected growth of biologics in the next upcoming future.
Biologics are mostly to continue their growth trend with more innovative technologies and therapies coming to the market. In some therapeutic areas, treatment with biologic is quite significant, especially in high-income countries. The momentum of new biologic launches is likely to continue for some time into the future. The rise in prevalence of target chronic diseases such as cancer, increase in unhealthy lifestyle habits, technological advancements, company agreements like mergers and acquisitions by key players, government support and initiative for development and implementation of biologics, collaborations of leading companies, more companies earning market approval, product launches, the development of biologics with higher efficiency and scope, and a favorable research funding scenario are key factors contributing to high CAGR of Biologics during the forecast period.
Biologics provide safer solutions in many areas of unmet medical demands, and their growth is expected to continue. Moreover, biological products represent the cutting-edge technological innovation and biomedical research and may offer effective ways to treat diverse medical illnesses and ailments that presently have no other alternative treatment. Nevertheless, their high cost, patent cliff, a strict regulatory environment, and the emergence of alternative solutions, the limited scope of treatment pose challenges. However, stringent government regulations and associated side effects such as gastrointestinal complications, change in blood pressure, chest pain, breathing problems, etc. is expected to hamper the market and found to be the major hindrance for market growth during 2020-2027.
Further key findings from the report suggest
- The Biologics market is growing at a CAGR of 13.0% in Asia Pacific, followed by North America and Europe, with 11.8% and 11.6% CAGR, respectively. The rise in the prevalence of cancer and other target diseases across the globe is the key factor in accelerating market growth during the forecast period across all regions.
- As of 2019, the Monoclonal Antibodies segment dominates the market holding 39.0% of the global market since it is the primary medicine used for the treatment of cancer.
- On the basis of product type, Gene biologics are growing predominantly with a CAGR of 14.3%, followed by vaccines and cellular biologics.
- On the basis of application, Cancer is expected to be the fastest-growing market segment during forecast period 2020-2027 with a CAGR of 12.4%. The key factor responsible for the growth of the segment is the predominant rise in cancer and the geriatric population worldwide.
- The Cancer application segment holds a market share of 42.2%, followed by autoimmune diseases and infectious diseases, holding 35.9% and 14.6% market shares, respectively.
- Asia Pacific is expected to account for 21.4% of the global Biologics market due to the prevalence of target diseases in countries like India and China.
- Stringent government regulations and associated side effects like gastrointestinal complications, change in blood pressure, chest pain, breathing problems, etc. are the key challenges faced by the Biologics market players.
- Key participants include Merck & Co. Inc., AbbVie, Inc., AstraZeneca Plc., Amgen, Inc., Celgene Corporation, Bristol-Myers Squibb Co., Eli Lilly and Company, Janssen Pharmaceuticals, Inc., GlaxoSmithKline Plc., Novartis AG, Pfizer, Inc., and Novo Nordisk A/S.
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For the purpose of this report, Reports and Data has segmented the Biologics market on the basis of product, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Monoclonal Antibodies
- Recombinant Hormones/Proteins
- Cellular-Based Biologics
- Gene-Based Biologics
Application Outlook (Revenue, USD Million; 2017-2027)
- Infectious Diseases
- Autoimmune diseases
End-use Outlook (Revenue, USD Million; 2017-2027)
- Diagnostic Centers
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biologics-market
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