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

Biologics MarketSize and Trends

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.

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.