Biologics Market Drivers and Restraints
Market Research Future (MRFR) assessed the global biologics market across the analysis period from 2018 to 2023. By 2023, the global biologics market can expand at 6.95% CAGR across the analysis period 2018 to 2023. MRFR findings reveals that the biologics market valuation can touch USD 285,520.4 Mn by 2023. High specificity of targeted action delivery offered by biologics, curbing chances of toxicity in patients is observed to gain high popularity. This is expected to promote the expansion of the biologics market. The rapid adoption of recombinant technology to boost the biologics production can support the market expansion.
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Human, microorganisms, and animals-derived biologics prepared via modern biotechnologies are highly effective in treating number of chronic diseases. The rise in preference for biologics over synthetic drugs among large populace of patients suffering from chronic issues can promote the expansion of the global biologics market. Further, rapid innovations in the pharmaceutical sector to meet rising demand for biologics can support the expansion of the worldwide biologics market in the near future.
Biologics Market Segment Overview
The segment evaluation of the biologics market is done by product, manufacturing, and disease indication.
The product-type based segments of the biologics market are interleukins, monoclonal antibody, growth factors, vaccines, and gene therapy among others. The sub-segments of the monoclonal antibody are human, humanized, murine, and chimeric. The monoclonal antibody segment can earn decent revenue for the biologics market across the analysis period. The murine segment can rise exponentially.
The disease indication-based segments of the biologics market are diabetes, cancer, psoriasis or psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, ankylosing spondylitis, juvenile idiopathic arthropathy, Crohn’s disease, and cardiovascular diseases among others. The increase in ankylosing spondylitis ailment cases can support the expansion of the biologics market in the review period.
The manufacturing-based segments of the biologics market are in-house and outsourced. The outsourced segment can favor the biologics market in the near future as the prominence of outsourced biologics is observed to rise.
Biologics Market Regional Overview
Trends and factors that are expected to impact the biologics market are analysed across Europe, Americas, Asia Pacific (APAC), and the Middle East & Africa (MEA).
In North America, the biologics market can expand at high pace and can dominate the global market. The regional market rise pacing at a considerable CAGR can earn decent revenue by 2023. The presence of well-established participants that offer a robust product portfolio can support the expansion of the biologics market across the assessment period. In Europe, the rise in the demand for biologics products to boost treatment for diseases can cause the regional market earn high revenue in the assessment period.
In U.K. hosts reputed pharmaceutical companies that can drive the market at a high pace. The existence of robust R&D in healthcare biotechnology can promote the regional market. In the APAC region, the availability of heavy equipment in Asian manufacturing base and increase in the capital investment can promote the market through the analysis period. Contributions of well-established companies, such as; Wuxi Biologics and Samsung Biologics are observed to support Asia Pacific biologics market in the study period. MEA biologics market can witness a steady rise through the review period.
Biologics Market Competitive Landscape
AbbVie, Inc. (U.S.), AstraZeneca (U.K.), Pfizer Inc. (U.S.), Bayer AG (Germany), F. Hoffman-La Roche AG (Switzerland), Sanofi (France), Amgen (U.S.), Eli Lilly and Company (U.S.), GlaxoSmithKlie Plc (U.K.), and Novartis AG (Switzerland) among others are some reputed names in the biologics market that are listed by MRFR.
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