The global Biologics Market was worth US$ 335.43 Billion in the year 2021 and is expected to reach US$ 817.48 Billion by the year 2032 at a CAGR of 8.5% between 2022 and 2032.
With small molecule drug productivity declining, demand for biologics is expected to witness an exponentiation in the near future. Moreover, oral products are showing better efficacy with regards to Crohn’s disease and arthritis; which is bound to pull moderate patients toward branded and new treatments. Plus, new molecules do provide more options to experienced patients.
Request Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-1249
Scientists are actually engaged in investigating species as well as expression systems that could be all the more productive. As such, developing cell lines and reagents enhancing biological products’ productivity is expected to reach its zenith in the forecast period.
Monoclonal antibodies are amongst the common biologic drugs approved as of now. However, new biologic drugs like nanobodies, fusion proteins, gene and cell therapy, and antisense RNAi therapeutics are undergoing clinical trials. These developments are expected to take the biologics market by storm in the forecast period. Along these lines, Tidvak was approved as an antibody-drug conjugate in September 2021. March 2021 saw approval of Abecma (a cell-based gene therapy). Additionally, Biocon Biologics, in January 2021, did receive US$ 75 Million from ADQ based out of Abu Dhabi. These investments are actually playing a vital role in the advancement of biotechnology.
As many biologic drugs have their patents expired, biosimilars are expected to restrain the market. As of the year 2021, there were close to 65 biosimilars approved all across the Europe and 33 all over the US. It has been reported that usage of biosimilars has resulted in savings of close to US$ 6.1 Billion in Europe alone.
Ask An Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-1249
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Biologics Market’. It has its team of analysts and consultants deploying a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With growing understanding of molecular and genetic basis of the diseases, the global biologics market is bound to stand tall in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Biologics Market
- North America accounts for more than 70% of the market share due to conducive reimbursement policies coupled with exorbitant investment in research. It’s interesting to learn that biologics alone account for more than 35% of entire drug spending in the US. The year 2021 saw the US FDA approving 21 BLA’s.
- Europe is expected to grow on the back of Germany with advancements in healthcare infrastructure along with increasing target patient population.
- The Asia-Pacific is expected to grow at a rapid pace in the biologics market in the near future with China on the driver’s seat. On these grounds, WuXi Biologics, in November 2021, did announce successfully launching GMP operations at its drug manufacturing facility. The plant spanning 12,000 m2 plant is to manufacture nearly 60 Million vials for commercial drugs every single year.
Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-1249
Competitive Biologics
- Aeglea BioTherapeutics, in June 2022, did announce that it did not succeed in securing a biologics license application (BLA) from the US FDA after the administrators having issued refusal for filing for company’s biologic pegzilarginase.
- The Janssen Pharmaceutical Companies of Johnson & Johnson, in February 2022, did receive approval from the US FDA for CARVYKTI (ciltacabtagene autoleucel; cilia-cel). The basic purpose of this biologic medicine is treating adults with RRMM (refractory or relapsed multiple myeloma) post 4 or more than 4 prior lines of therapy inclusive of proteasome inhibitor, anti-CD38 monoclonal antibody, and an immunomodulatory agent.
What does the Report state?
- The research study is based on product (monoclonal antibodies, recombinant hormones/proteins, vaccines, cellular based biologics, gene-based biologics, therapeutic enzymes, and likewise), by application (infectious diseases, cancer, autoimmune diseases, rare diseases, and others), by drug classification (branded drugs and generic drugs), by mode purchase (prescription drugs and OTC (Over-The-Counter) drugs), and by distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies).
- With growing occurrences of chronic ailments with their diagnoses coupled with governments’ initiatives, the global biologics market is expected to flourish in the forecast period.
Use promo code >> FMITODAY to get flat 20% discount
Key Players
- Novartis AG
- Pfizer Inc
- Dickinson & Company
- Smith’s Medicals
- Roche Diagnostics
- AstraZeneca
- Bayer AG
- GSK Biologicals
- Samsung BioLogics
- Merck & Co., Inc.
- Eli Lilly and Company
- Hoffmann-La Roche Ltd
- AstraZeneca.
Key Segments Covered in the Biologics Industry Survey
By Product:
- Monoclonal Antibodies
- Recombinant Hormones/Proteins
- Vaccines
- Cellular Based Biologics
- Gene-Based Biologics
- Therapeutic Enzymes
- Others
By Application:
- Infectious Diseases
- Cancer
- Autoimmune Diseases
- Rare Diseases
- Others
By Drug Classification:
- Branded Drugs
- Generic Drugs
By Mode of Purchase:
- Prescription Drugs
- Over-The-Counter (OTC) Drugs
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
More Trending Reports by Future Market Research:
Negative Pressure Wound Therapy Market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
