As per DelveInsight analysis in the biologics market, the growing prevalence diseases of various etiologies such as autoimmune disorders, infectious diseases, genetic disorders among others as well as latest product innovation with respect to biologics are some of the prominent factors that are responsible for the growth of biologics market.
LAS VEGAS, Oct. 31, 2022 /PRNewswire/ -- DelveInsight's Biologics Market Insights report provides the current and forecast market, forthcoming therapies, individual leading companies' market shares, challenges, biologics market drivers, barriers, and trends, and key biologics companies in the market.
Key Takeaways from the Biologics Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global biologics market during the forecast period.
- Key biologics companies such as GlaxoSmithKline, Eli Lilly & Company, F. Hoffmann-La Roche Ltd, AbbVie Inc., Amgen Inc, Sanofi, Merck & Co., Inc, Novo Nordisk, Novartis AG, Pfizer Inc, AstraZeneca, Bristol Myers Squibb., Regeneron Pharmaceuticals Inc., Gilead Sciences, Inc., Boehringer Ingelheim International GmbH., Genentech, Inc, Biogen., bluebird bio, Inc, Janssen Global Services, LLC,., Cellitron Group, and several others are currently dominating the biologics market.
- In October 15, 2021, the US FDA approved atezolizumab (Tecentriq) by Genentech, Inc. for adjuvant treatment following resection and platinum-based chemotherapy in patients with stage II to IIIA non-small cell lung cancer (NSCLC).
- In August 2021, Bristol Myers Squibbs received conditional marketing authorization for Abecma (idecabtagene vicleucel) by the European Commission for the treatment of adult patients with relapsed and refractory multiple myeloma. It is a first-in-class B-cell maturation antigen (BCMA)-directed chimeric antigen receptor (CAR) T-cell immunotherapy.
- In June 2021, the US FDA granted product approval to Biogen Inc's Aduhelm (aducanumab) for the treatment of Alzheimer's disease in an accelerated approval pathway.
- Thus, owing to the launch of such devices, rapid growth will be observed in the biologics market during the forecast period.
To read more about the latest highlights related to the biologics market, get a snapshot of the key highlights entailed in the Global Biologics Market Report
Biologics Overview
Biologics are products that are produced from living organisms or contain components of living organisms. There are several biologic drugs, including blood, blood components, vaccines, cells, genes, allergens, tissues, and recombinant proteins. Biologics holds a lot of potential in many therapeutic areas, such as cancer treatment, rare diseases, and other severe illnesses which have been difficult to treat using conventional small-molecule drugs.
Biologics Market Insights
Geographically, the global biologics market is studied for North America, Europe, Asia-Pacific, and Rest of the World. In terms of the largest market share, North America dominated the global biologics market and will continue to maintain its dominance in revenue generation in the optical biologics market during the forecast period. This can be ascribed to the high focus on therapy development for rare diseases with orphan designations, the rising prevalence of cancers, and a supportive regulatory environment, among other factors in the region. Furthermore, high disposable income, sophisticated healthcare infrastructure, and increased awareness regarding new treatments coupled with extensive insurance coverage for these treatments are also expected to aid in the biologics market growth in this region. However, the superiority of North America will be majorly challenged by the European biologics market.
One of the key supporting factors for the growth of the North American biologics market is the increasing focus on developing therapies for rare diseases in North American countries, particularly in the United States.
Moreover, the growth prospects of the biologics market also appear promising in other countries such as India and China, owing to the increasing patient population in these countries as well as the growing focus of the respective governments in improving the healthcare infrastructure, services, and access pertaining to severe illnesses in effective treatment of certain diseases.
To know more about why North America is leading the market growth in the biologics market, get a snapshot of the report Biologics Market Outlook
Biologics Market Dynamics
The global biologics market is expected to witness significant growth owing to the increasing prevalence of autoimmune diseases such as rheumatoid arthritis, growing geriatric population base, rising prevalence of infectious diseases, cancers, and genetic disorders, along with increasing product development activities with respect to biologics.
However, the challenging manufacturing process, high cost of biologics, and availability of biosimilars may prove to be a major deterrent to biologics market growth.
Furthermore, the biologics market was one of the few that experienced positive growth during the COVID-19 pandemic. Despite the fact that lockdown restrictions severely impacted production capacities in a variety of industries around the world, the urgency of developing vaccines for the SARS-CoV-2 virus presented enormous growth opportunities for biopharmaceutical manufacturers. The development and emergency approval of the first COVID-19 vaccine (the Pfizer-BioNTech COVID-19 Vaccine) in late December 2020 accelerated the development and approval of such vaccines around the world. This resulted in numerous collaborations and partnerships among pharmaceutical companies and contract manufacturing organizations in order to meet the global supply of these vaccines in time, presenting a positive outlook for the biologics market despite supply chain disruption, among other factors.
Get a sneak peek of the Biologics market @Biologics Market Trends
Report Metrics | Details |
Coverage | Global |
Study Period | 2019-2027 |
Base Year | 2021 |
Market CAGR | 9.59 % |
Projected Biologics Market Size by 2027 | USD 577.03 Billion |
Key Biologics Companies | GlaxoSmithKline, Eli Lilly & Company, F. Hoffmann-La Roche Ltd, AbbVie Inc., Amgen Inc, Sanofi, Merck & Co., Inc, Novo Nordisk, Novartis AG, Pfizer Inc, AstraZeneca, Bristol Myers Squibb., Regeneron Pharmaceuticals Inc., Gilead Sciences, Inc., Boehringer Ingelheim International GmbH., Genentech, Inc, Biogen., bluebird bio, Inc, Janssen Global Services, LLC,., Cellitron Group, among others |
Biologics Market Assessment
- Biologics Market Segmentation
- Market Segmentation By Product Type: Cell-Based Biologics, Gene-Based Biologics, Monoclonal Antibodies, Vaccines, Recombinant Protiens, and Others
- Market Segmentation By Application: Oncology, Immunology, Infectious Diseases, Neurological Diseases, and Others
- Market Segmentation By Manufacturing Type: In-House and Outsourced
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Which key players in the biologics market are set to emerge as the trendsetter explore @Biologics Companies
Table of Contents
1 | Report Introduction |
2 | Executive summary |
3 | Regulatory and Patent Analysis |
4 | Key Factors Analysis |
5 | Porter's Five Forces Analysis |
6 | COVID-19 Impact Analysis on Biologics Market |
7 | Biologics Market Layout |
8 | Global Company Share Analysis - Key 3-5 Companies |
9 | Company and Product Profiles |
10 | Project Approach |
11. | About DelveInsight |
Interested in knowing how the biologics market will grow by 2027? Click to get a snapshot of the Biologics Market Analysis
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