Biologics Market, By Product (Monoclonal Antibodies, Vaccines, Recombinant Hormones/Proteins, Cellular-based Biologics, Gene-based Biologics, and Others), By Application (Cancer, Infectious Diseases, Autoimmune Diseases, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : May 2023

Code : CMI2663

Pages :210

Formats :

Excel and PDF

Industry : Pharmaceutical

Market Challenges And Opportunities

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 – 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 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 US$ 0.30 on capacity expansion of biologics manufacturing facilities.