The global biologics market was valued at USD 324.78 Billion in 2020 and is expected to reach a value of USD 749.62 Billion by 2030, and register a CAGR of 10.80% during the forecast period.
The global biologics market is expected to be driven by factors such as growing capital investments by major market players, along with increasing support and initiatives by governments of various countries across the globe for development and implementation of biologics, increasing prevalence of chronic diseases, and growing demand and preference for innovative drugs. Biologics are drugs processed through biological processes, and can be tailored to target specific area in the human body.
Market Dynamics:
Drivers:
Gene-based and cellular biologics are an essential element of biomedical research and are used to treat various medical conditions, especially for rare conditions. Biologic medicines are often up to two hundred to a thousand times larger in volume compared to the volume of a chemical drugs. Biologic medicines are usually injected into the patient’s body because of its large molecular size and fragile molecular structure. Biologics are used for the treatment of various diseases and conditions such as anemia, cancer, and other autoimmune diseases.
Biologic drugs are being used to treat diseases such as cancer and autoimmune diseases, and increasing success rate is encouraging major pharmaceutical companies to invest in development and launch these products on a large scale. Technological advancements, and increasing preference for biologic treatments are factors expected to drive market growth. Increasing number of product launches and pipeline products are primary factors driving growth of the global biologics market. Moreover, strategic movements such as mergers and acquisitions among leading companies and domestic players is also expected to boost market growth. There has also been government support for the development of biologic drugs. In 2019 for instance, United States Food and Drug Administration (USFDA) approved first targeted biologic for severe Pediatric Eosinophilic Asthama.
Request a Sample@ https://qyresearchmedical.com/sample/119000
Various biotech startups are receiving funds from government bodies. In August 2019 for instance, the Wroclaw-based Pure Biologics startup has announced that it is being funded by the National Center for Research and Development with Euro 6.7 Billion or USD 7.97 Billion to develop the new breast cancer treatment. In addition, global Leaders in research and diagnostic are launching monoclonal antibodies such as Biocare Medical’s new p14INK4a Monoclonal Antibody for the use in immunohistochemistry in September 2019. Moreover, drug approvals for biologics have been increasing liberally. Over 13% of biomolecules that enter phase I of clinical trials are expected to be approved as a drug which is indicative of high revenue growth of the global market in the foreseeable future.
Restraints:
A successful product launch requires approximately nine years of research and development and high capital investment, and due to complexity of biologic molecules, the regulatory approval of biologics is often delayed or not approved. This factor could hamper revenue growth of the global market to some extent.
Stringent government regulations and associated possibilities of side effects such as gastrointestinal complications, change in blood pressure, chest pain, breathing problems, etc. are factors that could hamper adoption of biologics. In addition, need for a well-developed health infrastructure and skilled professionals to supervise the biologics treatment, high research and development investments, complexity of biologics manufacturing process are factors that could hamper market growth.
Market Insights:
Product Type Outlook:
Among the product type segments, the monoclonal antibodies segment accounted for the largest revenue share in 2020, mainly due to a prominent benefit offered which is its ability to target unhealthy cells without harming the healthy cells.
The gene biologics segment is expected to register the highest growth rate during the forecast period, followed by the vaccines segment and the cellular biologics segment respectively. The vaccines segment is expected to register significantly high revenue growth rate during the forecast period, due to increasing prevalence of various infectious diseases such as coronavirus, and need for vaccines for treatment of infectious diseases.
Application Outlook:
Among the application segments, the cancer segment accounted for the largest revenue share in the global biologics market in 2020, and is expected to register the highest CAGR over the forecast period. Key factor expected to drive revenue growth of this segment is increasing prevalence of various types of cancer and growing global geriatric population.
The autoimmune diseases segment accounted for second-largest revenue share in the global market in 2020, followed by the infectious diseases segment in terms of revenue share.
Region Outlook:
The North America market accounted for the largest revenue share in the global market, due to well-established healthcare sector, increasing prevalence of various chronic diseases and infectious diseases, high preference for advanced treatment options among patients, and availability of various medical insurance policies.
The Asia Pacific market is expected to register the highest revenue growth rate during the forecast period, due to high prevalence of chronic and infectious diseases, increasing spending capacity on healthcare and shifting preference for advanced treatment, and increasing investments in R & D.
Companies considered and profiled in the market report
Merck & Co. Inc., AbbVie, Inc., AstraZeneca Plc., Amgen, Inc., Bristol-Myers Squibb Co., Eli Lilly and Company, Janssen Pharmaceuticals, Inc., GlaxoSmithKline Plc., Novartis AG, Pfizer, Inc., and Novo Nordisk A/Sare being profiled in the global biologics market report. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
In June 2020, Biocon and Mylan got an approval from the US Food and Drug Administration (USFDA) to launch its insulin Glargine injection in vial and pre-filled pen presentations. The insulin would work to control high blood sugar in the adults with Type 2 Diabetes, as well as in adult and pediatric patients with Type 1 Diabetes. The commercialization of Semglee in the United States is expected to enable the company to cater to US patient-pool with its new insulin, Glargine.
In 2020, WuXi Biologics completed acquisition of Bayer’s drug product manufacturing plant based in Leverkusen, Germany. The plant was expected to be the WuXi Biologics ’s first drug production facility in Europe and this would boost its commercial manufacturing capabilities.
In January 2020, International Process Plants (IPP), a leading global buyer and seller of pharmaceutical and biopharmaceutical manufacturing facilities and equipment, revealed its successful Q2/20 purchase of commercial biopharmaceutical facility in Colorado, US, of client AGC Biologics.
Segments covered in the report:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each segment from 2018 to 2028. The global biologics market report includes market size, market share, ongoing industry trends, market revenue or revenue share contributed by each regional market, and each of the segments. In addition, the report offers industry analysis in terms of revenue growth opportunities for existing as well as entry level players.
The report includes a detailed view of the global biologics market, along with changing dynamics and trends, scenarios, recalls, detailed market and regional segmentation, regional landscape, analysis and evaluation or revenues and investments, and details of historical, current, and projected revenue. Also, recent trends, DROT, and related developments in the global biologics market are included. Competitive landscape includes revenue share, financials, and various strategies adopted by key players in the market along with product offerings.
For the purpose of this report, Reports and Data has segmented the global biologics market based on product type, application, end use, and region:
Biologics Market Report Scope
Segments covered By Product Type Outlook, Application Outlook, End use Outlook, Regional Outlook
By Product Type Outlook
Monoclonal Antibodies
Vaccines
Recombinant Hormones/Proteins
Cellular Based Biologics
Gene Based Biologics
By Application Outlook
Cancer
Infectious Diseases
Autoimmune Diseases
Others
By End use Outlook
Hospitals
Clinics
Diagnostic Centers
Others
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Buy quantitative research Report at discounted price – USD 1500 https://qyresearchmedical.com/report/checkout/119000/1500
You can place an order or ask any questions, please feel free to contact sales@qyresearchmedical.com | +1 9197 992 333
Blog: https://www.novaoneadvisor.com/
Blog: https://www.visionresearchreports.com/
About Us
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/