According to IMARC Group latest report titled “Biologics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on biologics market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global biologics market reached a value of US$ 294 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 501.9 Billion by 2027, exhibiting a CAGR of 9.25% during 2022-2027.
Biologics, also known as biopharmaceuticals or biologic drugs, are disease-modifying antirheumatic drugs (DMARDs) extracted from living organisms. They consist of genetically engineered proteins, sugars, or nucleic acids derived from humans, animals, birds, insects, plants, and microorganisms. These drugs control the production of vital proteins, modify human hormones and cells, and produce substances to activate and suppress the immune system. As a result, biologic drugs, such as vaccines, blood and blood components, cells, genes, tissues, allergens, and recombinant proteins, are widely utilized to treat numerous diseases and conditions, including Crohn’s disease, ulcerative colitis, cancer, anemia, rheumatoid arthritis, and other autoimmune diseases.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
In recent years, there has been a significant increase in the number of individuals with acute and chronic conditions, thus escalating the demand for advanced diagnostics and treatment drugs. In addition, the introduction of advanced methods for manufacturing biologics represents another major growth-inducing factor. Besides this, governments of numerous countries are taking initiatives to promote the healthcare sector and ensure the availability of biologics. This, coupled with extensive research and development (R&D) activities conducted by key players to improve the efficiency of oral drugs for rheumatoid arthritis and Crohn’s diseases, is positively influencing the market growth. Moreover, scientists and researchers are investigating species and expression systems to develop gene therapy and antisense medicines for cancer treatment, which is creating a favorable market outlook across the globe.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- AbbVie Inc.
- Amgen Inc.
- AstraZeneca plc
- Hoffmann-La Roche Ltd
- GlaxoSmithKline plc
- Johnson & Johnson
- Merck KGaA
- Novartis AG
- Pfizer Inc.
Biologics Market Segmentation:
Our report has categorized the market based on region, source, product, disease and manufacturing.
Breakup by Source:
Breakup by Product:
- Monoclonal Antibodies
- Recombinant Proteins
- Antisense, RNAi and Molecular Therapy
Breakup by Disease:
- Immunological Disorders
- Cardiovascular Disorders
- Hematological Disorders
Breakup by Manufacturing:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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