BIOLOGICS MARKET ANALYSIS

Global biologics market is estimated to be valued at US$ 401.96 Billion in 2023, exhibiting a CAGR of 9.3% during the forecast period (2023-2030). Global biologics market is expected to witness growth, owing to rising burden of chronic diseases and increasing demand for biologics across the globe. Moreover, rising demand and higher acceptability for innovative therapies and increasing clinical trials is expected to drive the market growth.

Analysts’ Views on Global Biologics Market:

Global biologics market growth is driven by increasing approval and laws from regulatory authorities. Biologics are used to treat the cancer. For instance, on March 07, 2023, CBER (Center for Biologics Evaluation and Research, the center within U.S Food And Drug Administration  FDA that regulates biological products for human use, is approved under the federal laws including the Public Health Service Act and the Federal Food, and Drug and Cosmetic Act.

Figure 1. Global Biologics Market Share (%), By Product, 2023

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Global Biologics Market– Drivers

Increasing  Demand for Biologics products is associate the growth of Biologics Market

Biologics are used to treat cancer such as breast, lung, bladder, prostate, colorectum, and skin cancer. Thus, increase in prevalence of various cancer is likely drive the demand for biologics products and thereby drive the growth of market. For instance, according to World Health Organization, in 2020 estimated 10 million death occurred due to cancer globally

High Prevalence of Chronic Diseases

Rising burden of chronic diseases across the world is expected to drive the market growth. For instance, in September 2022, according to the World Health Organization (WHO), 41 million people die due to non-communicable diseases (NCD) every year, equivalent to 74% of all deaths worldwide. Every year, around 17 million people die from a NCD before age 70, and  86% of these premature deaths occur in globally.

 Global Biologics Market- Regional Analysis

Among region, North America is expected to gain highest share in the market during the forecast period, owing to increasing prevalence of chronic, infectious, and autoimmune diseases. Biologics are used to treat a variety of conditions such as cancer, and thus, increasing  burden of cancer boosts demand for of biologics. According to the American Cancer Society, in January 2022, 1.9 million new cancer cases were diagnosed in the U.S.

Figure 2. Global Biologics Market Share (%), By Region, 2023

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Global Biologics Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

Factors that could hinder the growth of the biologics market in the future include high stringency and low turnover for clinical trials, stringent regulations related to bio similar approvals, prolonged production and approval time, and nomenclature challenges. Lockdowns and restrictions  led to requirement for electronic data transfer and claim administration.

In particular, the now two-year-old pandemic has played a key role in changing the healthcare landscape, preventing many patients from managing their chronic diseases and increasing the risk of more serious illnesses for many underlying health conditions.

Global Biologics Management Market- Segmentation

Global biologics market report is segmented into product, application, and region

Based on Product, the market is segmented into monoclonal antibodies, vaccines, recombinant hormones/proteins, cellular-based biologics, gene-based biologics, and other. Out of which, monoclonal antibodies segment is expected to dominate the global biologics market over the forecast period, owing to increasing a burden of autoimmune diseases. Monoclonal antibodies are used to diagnose and treat autoimmune diseases and cancer.

Vaccines Segment is also expected to witness growth in the near future, owing to rising demand for safe and effective vaccines. Vaccine is a biological preparation that provides active acquired immunity to a particular infectious disease.

Based on Application, the market is segmented into cancer, infectious diseases, autoimmune diseases, and other. Out of which, cancer segment is expected to dominate the market over the forecast period, owing to increasing burden of cancer worldwide. Biologics are used to treat different types of cancer.

Based on Region, the market is segmented into North America, Latin America, Europe, Asia pacific, Middle East, and Africa. North America dominated the market over the forecast period. Market players operating in the region are focused on various strategies such as agreement, and this is expected to drive the market growth in this region.

Global Biologics Market- Cross Sectional Analysis

Cancer segment is expected to witness growth in Europe and Asia Pacific, owing to rising burden of chronic diseases such cancer, and increasing research and development in these regions. For instance, August 2020, according to data based on current trends from the cancer report by Indian Council of Medical Research (ICMR), cancer cases in India will be increased by 12% and 1.5 million people will suffer from the non-communicable disease (NCD) by 2025, as compared to 1.39 million in 2020.

Global Biologics Market - Key Trends

Technological advancements is the recent trend

Artificial Intelligence (AI), Machine Learning (ML), and cloud-based and other software-assisted platforms for treatment are some of the technologies that are paving the path for the development of new products, opening new horizons for the growth in the market. Furthermore, the adoption of technology opens lots of opportunities for market players and emerging players in the market. This trend is expected to continue over the forecast period, driving the market growth.

Global Biologics Market- Key Developments

In April 2022, GSK, British multinational pharmaceutical and biotechnology company and SK bioscience, submitted a biologics license application for SKYCovione, a recombinant protein-based COVID-19 vaccine candidate, to the Korean Ministry of Food and Drug Safety (KMFDS)

In October 2021, Amgen, American multinational biopharmaceutical company  acquired Teneobio, a clinical-stage biotechnology company developing a new class of biologics and  human heavy-chain antibodies, for US$ 900 million, along with US$ 1.60 billion.

Global Biologics Market- Restraint

High Capital Investment

Manufacturing of biologics required the high capital investment thus it is expected to hamper the market growth. In September 2022, CuraTeQ Biologics, Biopharmaceutical Company planned to invest U$$ 0.30 on capacity expansion of biologics manufacturing facilities.

Global Biologics Market- Key Players

Major players operating in the global biologics market include Novartis AG., AstraZeneca PLC., Bayer AG., Sanofi SA., Pfizer Inc., Merck & Co., Johnson and Johnson, GlaxoSmithKline PLC., Amgen Inc., AbbVie Inc., F. Hoffmann-La Roche AG., Eli Lilly and Company, and AGC Biologics.

*Definition: Biologics market comprise companies manufacturing biological products that are derived from genetically modified proteins and human genes. Biologics products include a wide range of recombinant therapeutic proteins, gene therapy tissues, somatic cells, vaccines, and allergenic.