Biologics are biologic drugs that are derived or semi-synthesized from natural sources such as humans, animals and micro-organisms with the use of biotechnology. As per the report that has been published by Market Research Future (MRFR), the global biologics market is anticipated to expand at a noteworthy CAGR of 6.95% during the forecast period 2017-2023.
Market Drivers and Restraints:
The global market for biologics is majorly driven by the availability of wide range of biologics such as vaccines, allergenics, blood, blood components, somatic cells, tissues, gene therapies, living cells used in cell therapy and recombinant therapeutic protein. The increasing number of individuals with chronic and acute diseases, such as cancer, diabetes, anemia and others, that involves biologics in their treatment is inducing demand for biologics or biologic drugs in the global market.
The growing approval of patient-centric and personalized medicines and increasing resistance towards conventional drugs are impacting positively on the expansion of the global biologics market. The increasing inclination towards the adoption of medicines that are derived from natural sources owing to the high rate of side-effects caused by the conventional chemically synthesized drugs is creating traction for biologics in the global market, resulting in the expansion of the global biologics market.
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The high success rate in terms of approval of biologic drugs has created a broad pathway of opportunities for the manufacturers, which in turn is fueling the growth of the global biologics market. The increased research and development expenditure by the pharmaceutical companies has led to the introduction of new and efficient biologic drugs in the global market, leading to the expansion of the global biologics market. However, the high capital investment for research and development of biologics, high cost of biologics and development of biosimilars are likely to act as a restraint on the growth of the global biologics market.
For biologics market size understanding, the report has been segmented into four key dynamics.
By Product: Monoclonal Antibody, Interleukins, Vaccines, Growth Factors, and Gene Therapy among others.
By Disease Indication: Rheumatoid Arthritis, Psoriasis/Psoriatic Arthritis, Cancer, and Diabetes among others.
By Manufacturing: In-house and Out-sourced
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
By region, the biologics market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific, Europe, and the Middle East and Africa. Of these, the Americas will dominate the market during the forecast period. Various factors are propelling the growth of the biologics market in the region, such as investments in new facilities for producing drugs for clinical trials, strong economic growth of Canada and the US, and rapid adoption of manufacturing technologies. It is predicted to touch USD 129,652.7 million at a 6.95% CAGR.
The biologics market in the APAC region will grow at the fastest pace during the forecast period. Various factors are propelling the growth of the biologics market in the region, such as the changing healthcare sector, increasing geriatric populace, and the presence of different contract manufacturing organizations (CMOs) in the region. India is a major contributor in this region for its massive strides in biologics manufacturing.
The biologics market is supported by promoted research into genetics and robust development of healthcare solutions with the help of technology. The population growth around the world and increasing demand of biologics market based services and products also support the market growth. However, the biologics market growth can be affected due to restrictions in access to capacity and companies’ inability to access higher capacity for manufacturing. The report covers all such details which will help companies in the biologics market to strengthen their business plan and improve their product portfolio. The biologics market research report also provides company profiles of major companies. The company profiles of many organizations operating in the biologics market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the biologics market. New companies and established businesses can plan their strategies based on this data provided in the biologics market research report.
List Of Tables
TABLE 1 GLOBAL BIOLOGICS MARKET BY PRODUCT, 2020 TO 2027 (USD MILLION) 34
TABLE 2 GLOBAL BIOLOGICS MARKET FOR MONOCLONAL ANTIBODY BY REGION, 2020 TO 2027 (USD MILLION) 35
TABLE 3 GLOBAL BIOLOGICS MARKET FOR INTERLEUKINS BY REGION, 2020 TO 2027 (USD MILLION) 36
TABLE 4 GLOBAL BIOLOGICS MARKET FOR HUMAN BY REGION, 2020 TO 2027 (USD MILLION) 36
TABLE 5 GLOBAL BIOLOGICS MARKET FOR CHIMERIC BY REGION, 2020 TO 2027 (USD MILLION) 36
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