The global biologics market a class of medications made from living things is about to grow rapidly. A recent analysis projects that the industry will grow at a promising compound annual growth rate (CAGR) of 8.5%, reaching a massive US$817.48 billion by 2032. This astounding development trend indicates how biologics have the potential to completely change modern medicine.
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Key Takeaways:
- The global biologics market is projected to reach a staggering US$817.48 billion by 2032, reflecting a robust CAGR (compound annual growth rate) of 8.5%.
- This significant growth is fueled by advancements in biotechnology and the increasing demand for targeted therapies for a variety of diseases.
- The market valuation at the end of 2021 stood at US$335.43 billion, highlighting the remarkable growth potential within this sector.
Genes from humans are used to create biologic medications through genetic engineering. These drugs are made up of proteins. Biologic drugs are derived from various natural sources such as humans, animals, or microorganisms. They include things like blood and blood components, gene therapy, somatic cells, vaccinations, allergies, tissues, and recombinant therapeutic proteins. Biologics, or biological pharmaceuticals, are disease-modifying antirheumatic medications (DMARDs) that are derived from or contain living organisms. Advanced biotechnology techniques and intricate methodologies are employed in the production of biologics
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.
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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
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