Biologics Market
Global biologics market is estimated to be valued at USD 522.1 Mn in 2024 and is expected to reach USD 1,044.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031. Biologics refers to medicines created from living organisms that are used to prevent, treat, and cure human diseases. These include vaccines, blood components, allergenics, somatic cells, gene therapies, tissues, and recombinant therapeutic proteins. Increasing prevalence of chronic diseases worldwide coupled with rising elderly population prone to various illnesses can boost demand for biologics. Rapid innovations and advancements in biotechnology have enabled development of novel biologic agents with improved safety, efficacy and specificity of action. This has expanded treatment options for several life-threatening conditions such as cancer, rheumatic disorders, and autoimmune diseases. Growing regulatory approvals and commercialization of biologics can drive the market growth.
Market Dynamics
Global biologics market growth is driven by growing prevalence of chronic diseases worldwide such as diabetes, cancer, cardiovascular diseases along with rising healthcare expenditure on biopharmaceutical R&D. Increasing demand for protein-based drugs, rapid approvals of advanced biologics and strong pipeline of novel biologic candidates can also drive the market growth. Constant technological advancements in bioprocessing and quality analytics enables development of high-yield production platforms conducive for cost-effective manufacturing of biologics at commercial scale. However, factors such as high capital investment needs for setting up bio-manufacturing facilities, stringent regulatory norms, and complexity of biological molecules poses challenges in biosimilar development. Emerging markets across developing regions such as Asia Pacific and Latin America offer lucrative opportunities for stakeholders to tap into new geographic territories and offset restraint impact.
Key Features of the Study
- This report provides in-depth analysis of the global biologics market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global biologics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include F. Hoffmann-La Roche Ltd., AbbVie Inc., Amgen Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc., Pfizer Inc., Sanofi S.A., Gilead Sciences, Inc., Novartis AG, Bristol-Myers Squibb Company, Regeneron Pharmaceuticals, Inc., Takeda Pharmaceutical Company Limited, Biogen Inc., Eli Lilly and Company, and Celltrion Healthcare Co., Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global biologics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biologics market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on ‘Biologics Market' - Global forecast to 2031
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