Biologics Market Size To Reach USD 749.62 Billion By 2028 | Top Key Players Merck & Co. Inc., AbbVie, Inc., AstraZeneca Plc.

August 21 02:40 2021
Biologics Market Size To Reach USD 749.62 Billion By 2028 | Top Key Players Merck & Co. Inc., AbbVie, Inc., AstraZeneca Plc.
Rise in prevalence of target chronic diseases like cancer, increase in unhealthy lifestyle habits, mergers and acquisitions by major companies, product launches, the development of biologics with higher efficiency and favorable research funding scenario are key factors contributing to high CAGR of Biologics during forecast period.

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

AbbVie’s Humira (adalimumab) – a drug used to treat autoimmune disorders such as rheumatoid arthritis. Biologics products including those which are manufactured by biotechnology are heat sensitive and susceptible to contamination. Hence, it is essential to maintain aseptic condition from initial manufacturing process till the end of the production, Biologic drugs have witnessed a significant success rate, notably in cancer and autoimmune diseases. The new developments in the field of immunotherapies, gene and cell therapies, and antibody-drug conjugates, will contribute to the expected growth of biologics in the next upcoming future. Biologics are mostly to continue their growth trend with more innovative technologies and therapies coming to the market. In some therapeutic areas treatment with biologic is quite significant, especially in high-income countries. The momentum of new biologic launches is likely to continue for some time into the future. Rise in prevalence of target chronic diseases such as cancer, increase in unhealthy lifestyle habits, technological advancements, company agreements like mergers and acquisitions by key players, government support and initiative for development and implementation of biologics, collaboration of global leading companies, more companies earning market approval, product launches, the development of biologics with higher efficiency and scope, and a favorable research funding scenario are key factors contributing to high CAGR of Biologics during forecast period.

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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% CAGR, 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 2019-2028 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.
  • Key participants include 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., and 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; 2018-2028)

  • Monoclonal Antibodies
  • Vaccines
  • Recombinant Hormones/Proteins
  • Cellular Based Biologics
  • Gene Based Biologics

Application Outlook (Revenue, USD Million; 2018-2028)

  • Cancer
  • Infectious Diseases
  • Autoimmune diseases
  • Others

End use Outlook (Revenue, USD Million; 2018-2028)

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Others

Regional Outlook (Revenue, USD Million; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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