Global Biologics Market Research Report: by Product (Monoclonal Antibody, Interleukins, Vaccines, Growth Factors, Gene Therapy, Others), by Disease Indication (Rheumatoid Arthritis, Psoriasis/Psoriatic Arthritis, Cancer, Diabetes, Others), by Manufacturing (In-house, Sourced), and Region – Forecast to 2027
Market Overview
Biologics market is all set to capture 6.95?GR from 2020 to 2027, believes Market Research Future (MRFR). It is further projected that the market size shall touch USD 285,520.4 Million by the end of 2027.
Key Boosters and Deterrents
The biologics market will attain considerable traction in the following years, thanks to the surging investments from major companies, surge in cases of chronic disorders, and the patent exclusivity of major biologic drugs coming to an end. Soaring demand and acceptability of biologics for advanced therapies will also add to the market strength. Biologic drugs facilitate effective treatment of a number of chronic disorders, most notably autoimmune diseases and cancer. This enables the top pharmaceutical companies such as Bristol-Myers Squibb, Eli Lilly and Company, AstraZeneca, GlaxoSmithKline (GSK), and Novartis, to make large-scale investments in these drugs, resulting in massive business growth.
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Pharmaceutical companies patenting biologics drugs are expected to profit substantially in the years to come. With the striking expansion of the biopharmaceutical sector worldwide, more than 13% of the biomolecules entering the stage I of clinical study are likely to be approved by the regulatory entities in the next several years. Surge in annual drug approvals along with robust biologics pipeline ensures promising market growth in the future.
Top Firms
The top biologics developers considered in the MRFR review study include G. Chem Ltd. (Seoul Korea), AstraZeneca (U.K.), AbbVie Inc. (U.S.), Pfizer Inc. (U.S.), Bayer AG (Germany), Amgen (U.S.), Sanofi (France), Eli Lilly and Company (U.S.), Samsung Biologics Co. Ltd. (Seoul Korea), Hoffman-La Roche AG (Switzerland), Novartis AG (Switzerland), Celltrion Inc. (Seoul Korea), GlaxoSmithKline Plc (U.K.), and many more.
Market Segmentation
The major segments as per which the global Biologics Market has been considered in the research study include product, disease indication, as well as manufacturing.
The key products listed in the report are Gene Therapy, Interleukins, Monoclonal Antibody, Growth Factors, Vaccines, and more. It is expected that monoclonal antibodies (mABs) will form the highest share in the market, owing to the mounting use of the product in various therapeutic areas.
Disease indication-based segments are Psoriasis/Psoriatic Arthritis, Rheumatoid Arthritis, Diabetes, Cancer, among others. Cancer biologics will be the top segment in the following years, as a result of the provision of more accurate diagnostics as well as the high number of skilled oncology professionals.
Manufacturing-wise, the segments can be sourced and in-house. Sourced manufacturing segment will garner the most prominence in the ensuing years, since majority of the companies lack a proper manufacturing unit. Hence, they are driven towards sourced manufacturing like CMOs.
Regional Status
North America will remain the highest gainer all through the evaluation period, maintaining its winning streak on the back of the healthcare industry with a strong base in the region. The escalation in psoriasis, rheumatoid arthritis, diabetes, and cancer, especially among the blossoming elderly population will favor the regional market in the future. The American Burn Association reveals that close to 500,000 burn victims every year need emergency room treatment.
Europe should gain the second highest position in the global industry, on account of the rising incidences of diabetes and arthritis and easy access to top-notch medical facilities. Considerable awareness level, surging use of modern technologies by healthcare, and the surge in chronic disorders further strengthens the market’s foothold in the region.
The Asia Pacific market for biologics should advance at the fastest rate in the next few years, primarily as a result of the vast patient vase affected by chronic ailments such as cancer and diabetes. The highest number of patients are in China and India, where the biologics market will be developing at a notable pace in the coming years. Advances in the medical tourism industry and the hordes of foreign patients visiting the region owing to the availability of cost-efficient treatment enhances the market share for biologics.
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Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.