BIOLOGICS MARKET ANALYSIS

Biologics Market, By Product (Monoclonal Antibodies, Vaccines, Recombinant Hormones/Proteins, Cellular-based Biologics, Gene-based Biologics, and Others), By Drug Classification (Branded Drugs and Generic Drugs), By Route of Administration (Oral, Parenteral, and Other Routes), By Mode of Purchase (Prescription-Based Drugs and Over-The-Counter Drugs), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).

Published In : Dec 2024
Code : CMI2663
Pages :210
Formats :
Excel and PDF
Industry : Pharmaceutical

Key Takeaways from Analyst

Global biologics market growth is driven by rising prevalence of chronic diseases worldwide and growing demand for effective therapeutics. Biologics have proven to be a game changer in treatment of diseases like cancer, autoimmune disorders, and infectious diseases. Development of advanced biologic therapies with targeted action also aid the market expansion.

North America currently dominates the biologics landscape and is expected to continue its leadership position. However, Asia Pacific is likely to emerge as the fastest growing region due to rising healthcare expenditure, increasing disposable incomes, and growing focus of global players on emerging countries in the region.

High costs of developing and manufacturing biologics remains a major challenge for widespread adoption. Complexity of biological systems and products also adds to the financial risk. Manufacturers face substantial pressure to lower prices which may restrict future product development.

Biosimilars are expected to open new avenues by providing near similar efficacy at lower costs. However, perceived risk of immunogenicity and substitutability by physicians and patients may dampen their acceptance initially. Strong pipeline and upcoming patent expiries of major biologics will offer lucrative opportunities for biosimilar makers.