The size of the global market for Biologics is expected to reach US$ 719.84 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.8%.
Continuous activities in research and development, investment in biologics and occurrence of chronic diseases are the factors that are playing a major role in the growth of biologics market. As per WHO, chronic diseases will account for approximately 80% of death by 2020 across the world. Constant development in gene & cellular therapy is catalyzing the market because of its therapeutic outcome and high efficiency. CAR-T-Cell are therapies recently accepted by FDA for the indications of oncology.
drugs are very complicated and need maintenance and controlled conditions for production and development processes. Huge finances are required to regulate the procedures of quality control initially. Biologics are prone to heat, light and require positive atmosphere which is not available worldwide. Strict rules and investment with restricted access to patient for biologics, particularly in emerging countries will affect the growth of global biologics market.
Biopharmaceuticals is getting popular over chemically synthesized molecules which are projected to increase the generation of revenue considerably. Moreover, by using the biologics many metabolic disorders can be treated to increase the demand of biologics market. Developed bioengineering technologies as well for the production of biopharmaceutical is estimated to fuel the pharmaceutical industry. With the advancements in automation, process of assortment can be done with the help of high throughput screening (HTS) system for the selection of duplicates.
Biologics market trends are initiative by government to support biologic drugs that allow funding and investment in research and development eventually increasing the quality of biologic drugs. This will positively upsurge the demand for biologics market growth. Success rate of biologic drugs is increasing thus increasing the demand for manufacturing biologics amongst the big pharmaceutical companies. For example, Bristol-Myers Squibb capitalized about $800 Million in Irish large-scale biologics facility and Novartis AG capitalized about $750 Million in biologics facility in Singapore estimating to complete the production by the end of 2019. Accepting innovative therapies and increase in chronic diseases are the factors that are fueling the growth of biologics market.
Global biologics market is segmented on the basis of application, source, type and region. Based on application, biologics market is divided into cancer, anemia, diabetes and many more. By source, market is divided into animal, human and microorganism. Based on type, biologics market is splited into blood products, gene therapy, vaccines, proteins, monoclonal antibodies and much more.
Topographically, regions involved in accelerating the biologics market share are Asia Pacific, Europe, U.S, South America, North America and Middle East & Africa. U.S biologics market is dominating the market in North America with huge investment and research and development. Growth in the concerns and awareness regarding oncology and its treatment will help to surge the global biologics market in North America. Asia Pacific is propelled to expand rapidly due to less strict rules for the clinical trials of drugs, developing awareness of biologics for the treatment of chronic diseases and manufacturing of biologics in the developing countries.
Key company profile in the Global Biologics Market are Abbvie Inc., Amgen Inc., Eli Lilly & Company, Pfizer Inc., Samsung Biologics, Sanofi, Merck & Co. Inc., F Hoffman La Roche, Celltrion, and Addgene
Biologics Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||US$ 719.84 billion|
|Growth Rate||CAGR of 7.8% during 2020-2030|
|Segment Covered||By Application, By Source, By Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||AbbVie Inc., AstraZeneca, Amgen Inc., F. Hoffmann-La Roche Ltd, Bayer AG, Sanofi, Eli Lilly and Company, GlaxoSmithKline Plc., Pfizer Inc., Merck & Co., Inc., and Novartis AG|
Key segments of the Biologics Market
By Product, (USD Billion)
- Therapeutic Enzymes
By Disease, (USD Billion)
- Immunological Disorders
- Cardiovascular Disorders
By Manufacturing, (USD Billion)
Region Overview, (USD Billion)
- North America
- United States of America
- the Netherlands
- The United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America