The report is titled ‘Biologics Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the biologics market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The biologics market is expected to grow at a significant rate in the near future.
The global biologics market was valued US$ 294.4 Bn at the end of 2020 and expected to reach at a value of US$ 529.3 Bn by 2028 with a significant CAGR of 7.6%.
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Biologics, or a biologic drug, is a substance that is made from living creatures or comprise elements of living creatures. Biologic drugs consist of an extensive range of by-products obtained from microorganisms, animals, and humans by the usage of biotechnology. The various kinds of biologic drugs or biologics comprises blood and its components, cells, vaccines, genes, allergens, tissues, and recombinant proteins.
Biologics Market Dynamics
A biologic is created in a life system including animal or plant cells, or microorganisms that are majorly used to impede, diagnose, and to treat, or cure a wide range of illnesses such as chronic kidney disease, cancer, infectious diseases, and autoimmune disorders.
In the present times, the rising incidence of chronic diseases such as autoimmune diseases, diabetes, and cancer among the population owing to the lethargic lifestyle, poor diet, and desk-bound jobs is mainly encouraging the demand of biologics in the global market, thus propelling the growth of the global biologics market.
In addition to that, the constant research activities, across the world, resulting in therapeutic diversification of biologics across varied indicators such as allergic conditions, asthma, dyslipidemia and other non-conventional disease areas, is another major factor that is driving the overall growth of the global biologics industry.
However, due to the inadequacy of reimbursements for biologics as well as heavy cost, there is a shortage of biologics especially in mid to low income economies around the world. Such factors may hold back the growth of the global biologics market over the coming years.
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Biologics Market Segmentation
The global biologics market is segmented on the basis of drug class, therapeutic application, distribution channel, and regions. On the basis of the drug class, the biologics market is segmented into Monoclonal Antibody, Vaccine, Recombinant Insulin, Human Growth Hormone, Blood Factor, Fusion Protein, Erythropoietin, Recombinant Enzyme, Interferon, Colony-stimulating Factor, Cell Therapy, Gene Therapy, Oligonucleotides and Others (Peptide, Botulinum Toxin, and Others). Based on therapeutic application, the market is bifurcated into Oncology, Metabolic Disorders, Autoimmune/Immunologic Diseases, Ophthalmic Diseases, Inflammatory Bowel Diseases (IBDs), Respiratory Disorders, Neurological Disorders, Musculoskeletal Disorders (MSDs), Cardiovascular Diseases (CVDs), Infectious Diseases, and Others. On the basis of the distribution channel, the market is categorized into Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies.
The research report classifies the global biologics market based on drug class, therapeutic application, distribution channel, and regions.
By Drug Class
- Monoclonal Antibody
- Recombinant Insulin
- Human Growth Hormone
- Blood Factor
- Fusion Protein
- Recombinant Enzyme
- Colony-stimulating Factor
- Cell Therapy
- Gene Therapy
By Therapeutic Application
- Metabolic Disorders
- Autoimmune/Immunologic Diseases
- Ophthalmic Diseases
- Inflammatory Bowel Diseases (IBDs)
- Respiratory Disorder
- Neurological Disorders
- Musculoskeletal Disorders (MSDs)
- Cardiovascular Diseases (CVDs)
- Infectious Diseases
By Distribution Channels
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Latin America
- Asia Pacific
- Middle East
Biologics Market Key Players
The global biologics market is dominated by Bristol-Myers Squibb Company (BMS), Merck & Co., Inc., Roche AG, Merck KGaA, AstraZeneca Plc, Regeneron Pharmaceuticals, Inc, Novartis International AG, Pfizer, Inc., Amgen, Inc., AbbVie, Inc., Sanofi S.A., Eli Lilly & Company, Novo Nordisk A/S, Johnson & Johnson, GlaxoSmithKline Plc, Teva Pharmaceutical Industries Ltd., Ipsen S.A., and Allergan Plc., among others.
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