Biologics Market Analysis
Global biologics market is predicted to touch USD 285,520.4 million, at an 6.95% CAGR between 2017- 2023, according to the new report by Market Research Future (MRFR). Biologics simply put, are drugs that are available in the form of genetically engineered proteins that are derived from the human gene. It is composed of nucleic acids, proteins, sugars, or its complex combinations, or living entities like tissues and cells. Biologic drugs are made from different natural sources like microorganisms, animals, or humans and comprise products like tissues, gene therapy, somatic cells, allergenics, blood & blood components, vaccines, and recombinant therapeutic proteins. Complex processes and advanced biotechnology techniques are used for manufacturing biologics. These are at the forefront of biomedical research.
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Various factors are adding to the global biologics market growth. According to the new MRFR report, such factors include increasing use to treat diabetes and cancer, rising prevalence of chronic diseases worldwide, convergence & better access to healthcare, and burgeoning demand for better treatment.
On the contrary, associated side effects such as breathing problems, chest pain, change in blood pressure, and gastrointestinal complications, and strict government regulations are factors that may limit the biologics market growth over the forecast period.
Biologics Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global biologics market report based on type, application, and source.
By type, the global biologics market is segmented into gene therapy, proteins blood products, vaccines, and others. Of these, the vaccines segment will lead the market over the forecast period.
By application, the global biologics market is segmented into diabetes, cancer, anaemia, and others. Of these, the cancer segment will dominate the market over the forecast period.
By source, the global biologics market is segmented into microorganisms, animals, humans, and others.
Biologics Market Regional Analysis
Based on the region, the global biologics market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Middle East & Africa. Among these, North America will dominate the market over the forecast period. Increasing cancer and diabetic population, government support for R&D, increasing healthcare expenditure, systematic drug review process, and rising technological advances in healthcare are adding to the global biologics market growth in the region. Germany and the UK have a maximum share in the region.
The global biologics market in Europe is predicted to have the second-largest share over the forecast period. Presence of healthcare infrastructure that is technically advanced, regulatory harmonization, high patient awareness, rising funding to develop biologics accessible through private-public partnerships, and accessibility of best quality research infrastructure are adding to the biologics market growth in the region. Additional factors adding market growth include innovative strategies by drug makers to limit the entry of new players, and rising disease incidences.
The global biologics market in the APAC region is predicted to grow at a fast pace over the forecast period. Rapidly growing economies such as China & India, rapid development of the healthcare sector, increasing awareness about the success of biologics to treat chronic diseases, less strict regulatory environment for the clinical trial of drugs, and increase in outsourcing of biologics contract manufacturing in emerging countries is adding to the biologics market growth in the region.
Biologics Market Key Players
Leading players profiled in the global biologics market report include Biogen Inc. (US), Bristol-Myers Squibb (US), Eli Lilly & Company (US), Johnson & Johnson Inc. (US), Addgene (US), Celltrion (South Korea), Samsung Biologics (South Korea), Merck KGaA (Germany), Genzyme (US), Bayer AG (Germany), AstraZeneca (UK), Novartis AG (Switzerland), Lundbeck (Denmark), GSK Biologicals (UK), Amgen (US), Roche Diagnostics (Switzerland), Pfizer Inc. (US), Terumo Corporation (Japan), Dickinson & Company (Germany), Becton, Smiths Medicals (UK), Retractable Technologies Inc. (US), Sanofi (France), and Unilife Corporation (US).
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