The biologics market involves manufacturing of drugs derived from living cells and organisms. These drugs include monoclonal antibodies, therapeutic proteins, blood components, live attenuated & whole cell vaccines and gene therapies. Biologics are increasingly being used for treating various chronic and complex diseases like cancer, diabetes, autoimmune disorders and cardiovascular ailments. They work by modulating the immune system or mimicking natural biological processes in the human body. The precise molecular structure and various biological activities of biologics allow them to be developed as powerful alternative therapies. The advantages of biologics over small molecule drugs include higher target selectivity, potent efficacy, and novel mechanisms of action. Their demand is rising globally owing to the growing prevalence of various life-threatening diseases.
The Global biologics market is estimated to be valued at US$ 463.06 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Biologics Market Demand 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.
Key opportunities: High unmet clinical needs, advancements in bioprocessing technologies, biosimilars market growth, increasing R&D investments for novel biologics provide major opportunities in the global biologics market.
Global expansion: Key players are expanding their presence globally through collaborations, acquisitions and geographical expansions to strengthen their marketing and distribution networks across major international markets.
Market drivers: Rising prevalence of chronic diseases worldwide along with growing geriatric population are key factors driving the demand for biologics. Biologics provide targeted treatments for cancer, autoimmune diseases, and other complex disorders with high efficacy and improved safety over conventional drugs.
Market restraints: High development costs of biologics, stringent regulations pertaining to their manufacturing and quality standards, and threat of drug failure at later clinical trial stages are some of the major challenges restraining the growth of this market. Concerns over biosimilars displacing sales of reference biologics also hinder the market expansion.
Segment Analysis
The Biologics market is dominated by the monoclonal antibodies sub segment which holds a market share of more than 35%. Monoclonal antibodies are highly specific and have reduced side effects making them an ideal therapeutic treatment for various indications such as cancer, autoimmune disorders and other chronic diseases. They have revolutionized disease treatment and have replaced older treatment options. Some of the key monoclonal antibody drugs include Humira, Keytruda, Avastin, and Opdivo.
Global Analysis
The North America region currently holds the largest share in the global Biologics market owing to factors such as high healthcare expenditure, presence of leading biologics manufacturers and high adoption of novel biologics in the region. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period due to rising healthcare infrastructure, booming generics market and growing contract manufacturing activities in countries such as China and India. Key growth drivers in the Asia Pacific region also include rising disposable income, large patient pool and increasing healthcare awareness.
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