The Global Oral Biologics Market, By Drug Class (Glucagon-like Peptide 1 (GLP-1) Receptor Agonist, Hormone, Recombinant Enzyme, Guanylate Cyclase-C Agonist, Somatostatin Analogue, and Others), By Disease Indication (Diabetes, Hyperoxaluria, Acromegaly, Irritable Bowel Syndrome (IBS) & Chronic Idiopathic Constipation (CIC), and Others (Inflammatory Bowel Disease (IBD), Hypoparathyroidism, and Others)), By Distribution channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2.62 Bn in 2023 and is expected to exhibit a CAGR of 35.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
An increase in the prevalence of disorders such as inflammatory bowel diseases (IBD) is expected to drive the growth of the market over the forecast period. For instance, according to data published by the Journal of Clinical Medicine in January 2023, IBD prevalence was 321.2 per 100,000 people in 2021 and has increased at a rate of 46% when compared to 2006 (200 per 100,000 people).
Global Oral Biologics Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
COVID-19 had a positive impact on the global oral biologics market. For instance, in May 2020, Eli Lilly and Company, a global pharmaceutical company, in collaboration with Junshi Biosciences, a biotechnology company, announced the co-development of antibody therapies for the prevention and treatment of COVID-19.
Global Oral Biologics Market: Key Developments
In August 2020, Chiasma, Inc., a commercial stage biopharmaceutical company, announced the commercial launch and availability of MyCAPSSA (octreotide) capsules in the U.S. for patients with acromegaly. MyCAPSSA, the first and only oral somatostatin analogue (SSA), is for the long-term maintenance treatment of acromegaly patients who have responded to and tolerated treatment with octreotide or lanreotide.
On July 20, 2023, Tillotts Pharma, a biopharmaceutical company, and TVM Capital Life Science (“TVM”), an international venture capital firm focused on investments in life sciences innovation, together with a specialty pharma company, announced that the companies will jointly invest up to US$ 28 million in the newly formed Mage Biologics Inc., a U.S.-based biotechnology company, to develop innovative biologics such as monoclonal antibodies for the treatment of ulcerative colitis.
In December 2022, AbbVie, a U.S. based pharmaceutical company announced that it had submitted a supplemental New Drug Application (sNDA) for linaclotide (LINZESS®) to the U.S. Food and Drug Administration (FDA) for the treatment of children and adolescents 6 to 17 years of age with functional constipation (FC). LINZESS is an orally available linaclotide, a guanylate cyclase-C agonist.
Browse 30 Market Data Tables and 26 Figures spread through 140 Pages and in-depth TOC on “Global Oral Biologics Market”- Forecast to 2030, Global Oral Biologics Market, By Drug Class (Glucagon-like Peptide 1 (GLP-1) Receptor Agonist, Hormone, Recombinant Enzyme, Guanylate Cyclase-C Agonist, Somatostatin Analogue, and Others), By Disease Indication (Diabetes, Hyperoxaluria, Acromegaly, Irritable Bowel Syndrome (IBS) & Chronic Idiopathic Constipation (CIC), and Others (Inflammatory Bowel Disease (IBD), Hypoparathyroidism, and Others)), By Distribution channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/oral-biologics-market-989
Key Takeaways of the Global Oral Biologics Market:
- The global oral biologics market is expected to exhibit a CAGR of 35.4% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global oral biologics market .
- Among disease indication, the diabetes segment is expected to hold a dominant position in the global oral biologics market during the forecast period, and this is attributed to the increase in reseach and development activities. For instance, in July 2021, the University of Mississippi Medical Center, a research center initiated a study of GLP-1 receptor agonists for treating diabetes mellitus, type 2. The study is currently in phase 2 of clinical trials and is expected to be completed in December 2023.
- Among region, North America is expected to be the dominant region in the global oral biologics market, owing to the key players focus on organic strategies to start new product launches.
- Major players operating in the global oral biologics market are Novo Nordisk A/S, Biocon Limited, Oramed Pharmaceuticals, Inc., Rani Therapeutics, Entera Bio Ltd., AbbVie Inc., Enteris BioPharma, Inc., Chiasma, Inc. and Allena Pharmaceuticals, Inc.
