Market Size – 324.78 Billion in 2020, Market Growth – CAGR of 10.80%, Market Trends – Product launches and research for advanced biologics.
According to the current analysis of Reports and Data, the global Biologics market was valued at 324.78 Billion in 2020 and is expected to reach 749.62 Billion by 2028, at a CAGR of 10.80%. 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 biologic 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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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 of technological innovation of technology and bio medical research and may offer the effective ways to treat diverse medical illness 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, 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.
Biologics Market Size, Share & Analysis, By Product (Monoclonal Antibodies, Vaccines, Recombinant Hormones/Proteins), By Application (Cancer, Infectious Diseases, Autoimmune Diseases), By End Use (Hospitals, Clinics, Diagnostic Centre), By Region, Global Forecast To 2028 : To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biologics-market
Further key findings from the report suggest :
- 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?GR, respectively. Rise in prevalence of cancer and other target diseases across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, 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 2019-2026 with a CAGR of 12.4%.The key factor responsible for the growth of the segment is predominant rise in cancer and geriatric population worldwide.
- Cancer application segment holds a market share of 42.2% followed by autoimmune diseases and infectious diseases holding 35.9% and 14.6% respectively.
- Asia Pacific is expected to account for the 21.4% of the global Biologics market due to the large 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.
List of Top Companies Profiled in the Biologics Market :
- 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.
- 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; 2016-2026)
- Monoclonal Antibodies
- Recombinant Hormones/Proteins
- Cellular Based Biologics
- Gene Based Biologics
Application Outlook (Revenue, USD Million; 2016-2026)
- Infectious Diseases
- Autoimmune diseases
End use Outlook (Revenue, USD Million; 2016-2026)
- Diagnostic Centers
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