Biologics Market Size Worth USD 567.96 Billion in 2028
The global biologics market is projected to reach USD 567.96 Billion in 2028 at a steady revenue CAGR of 8.4% over the forecast period, according to latest analysis by Emergen Research. Rising prevalence of chronic diseases, such as cancer and diabetes, is one of the key factors impelling the growth of the global biologics market. According to the World Health Organization (WHO), in 2016, around 42 million people were suffering from cancer worldwide. Moreover, as per the estimates of Diabetes UK, in 2017, approximately 4.6 million people in the U.K. were suffering from diabetes. Thus, increasing prevalence of chronic diseases is projected to propel the demand for biologics over the forecast period.
Some key factors attributed to steady market revenue growth include the increasing prevalence of chronic diseases and the continuous launch of new products in the market. However, patent expiration of blockbuster drugs is expected to restraint market growth during the forecast period.
Lack of skilled workforce is one of the major factors restraining the growth of the global biologics market. According to the National Careers Service, in the U.K., the number of people working in the scientific research and development sector was expected to increase by 6% between 2016 and 2027. However, the lack of skilled workforce is projected to hinder market growth over the forecast period.
In cancer treatment, ADC’s are very effective for hematologic malignancies. ADC’s are also in development to treat other solid tumors. Also, the use of ADC’s enables the targeting of specific cells while sparing healthy tissue, thus potentially reducing side effects.
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Proteins are also important drugs, and their therapeutic use spans a wide range of indications. In oncology, for example, proteins such as interferon and erythropoietin are used to treat a variety of cancers. Other proteins such as insulin and growth hormone are used to treat endocrine disorders.
Biologics are medicines made from living cells cultured in a laboratory. They are used to treat a wide variety of conditions, including cancer, rheumatoid arthritis, Crohn's disease, and psoriasis. Biologics are generally large, complex molecules that are difficult to produce. As a result, they are usually much more expensive than traditional drugs.
Some Key Highlights From The Report
- In September 2020, Biocon Biologics Ltd. (India) announced the launch of its first clinical biosimilar, Ogivri (trastuzumab-dkst), in India. This launch makes Biocon Biologics the first company to offer a clinically-validated biosimilar trastuzumab product in all major markets, including the United States, Europe, and India.
- The mammalian segment is expected to register a significantly rapid growth rate over forecast period due to the higher demand for these products in research and development activities. The bacteria segment is expected to grow at a moderate pace over the forecast period due to the increasing applications of these products in therapeutics and diagnostics.
- Vaccines segment revenue is expected to expand at a relatively faster rate over forecast period due to rising demand for preventive healthcare and government initiatives to promote vaccination programs. Also, personalized medicines are projected to grow at a significant CAGR over the forecast period owing to its increasing adoption in treatment of chronic diseases such as cancer, diabetes, and cardiovascular diseases.
- Cancer segment accounted for largest revenue share in 2020 due to higher incidence of cancer and availability of effective treatment options. Also, increase in awareness about cancer and its early detection is anticipated to support the segment growth over the forecast period. According to Cancer Research UK, in 2018, there were around 2.1 million people living with cancer in the U.K., this is expected to rise to 4 million by 2030.
- The North America region is expected to dominate the global market over the forecast period due to the presence of a large number of biotechnology and pharmaceutical companies in this region. Also, the region is witnessing a rapid growth in research and development activities in the field of biologics.
- The Asia Pacific region is expected to grow at a significant pace over the forecast period due to the increasing investments by government and private companies in research and development activities in this region.
- Some major companies operating in the global market include Novo Nordisk A/S, Pfizer Inc., Amgen, Sanofi, Samsung BioLogics, Merck & Co. Inc., Celltrion, AbbVie Inc., Johnson & Johnson Services Inc., Eli Lilly & Company, F Hoffman La Roche, Addgene, Novartis AG, and GlaxoSmithKline.
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Emergen Research has segmented the global biologics on the basis of source, product type, application, and region:
Source Outlook (Revenue, USD Billion; 2018-2028)
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Monoclonal Antibodies
- Recombinant Hormones/Proteins
- Cellular-Based Biologics
- Gene-Based Biologics
Application Outlook (Revenue, USD Billion; 2018-2028)
- Infectious Diseases
- Immunological Diseases
- Cardiovascular Diseases
- Hematological Disorders
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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