Biologics Market to Garner Growth 7.8% by 2030

According to the report, the global biologics market size is expected to worth around US$ 719.84 billion by 2030 and is projected to expand at a CAGR of 7.8% from 2022 to 2030.

Demand for biologics remains strong in 2021. Some sales insight revealing the strong growth of biologics during the past few years are listed below:

• Cardiovascular diseases causes around 32% of the global deaths
• Around 19.3 million new cases of cancer were reported in 2020, globally
• About 10 million cancer deaths were reported in 2020, globally
• The global diabetic population is projected to reach 783 million by 2045
• Respiratory diseases causes 3.9 million deaths, while the diabetes causes 1.6 million deaths across the globe, annually
• In 2018, the global deaths caused due to chronic diseases were estimated to be over 41 million

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Leading Regions Market Review

Global Biologics Market Captured by North America

North America dominated the global biologics market in 2021. This dominance is attributed to the presence of several giant biologics manufacturers in the region. The increased incidences of various chronic diseases such as cancer, respiratory diseases, cardiovascular diseases, diabetes, and orthopedic disorders in US have significantly driven the demand for the biologics. The presence of favorable government policies and heavy investments in the development of innovative biologic drugs coupled with the rising awareness among the consumers regarding the biologics has significantly boosted the demand for the biologics in US. It is estimated that more than half of the US population suffers from one or more chronic diseases.

Therefore, the demand for the biologics is higher in the region. The biologics offers effective treatment to several diseases that were previously non-curable and with low or no side effects. The higher efficacy of the biologics and rising demand for the effective drugs along with the presence of favorable reimbursement policies of the government has significantly favored the growth of the biologics market in North America. The rising pool of patients suffering from various chronic diseases and rising geriatric population in North America is expected to foster the growth of the biologics market in the region during the forecast period.

What are the key trends in the Global Biologics Market?

Growing robust pipeline of drugs in the biologics industry is expected to drive the growth of the market in the foreseeable future. There are a number of biopharmaceutical products that are currently in the clinical trials phase and a number of drugs that are yet to be approved by the concerned authorities like FDA and EMA. The availability of robust pipeline products is anticipated to fuel the demand for the biologics and boost the growth of the global biologics market during the forecast period.

Furthermore, the rising prevalence of various diseases such as cancer, diabetes, and cardiovascular diseases in the developing economies is expected to boost the demand for the biologics in the upcoming future. According to the International Diabetes Federation, around 241 million people aged between 20 to 79 years in Asia were suffering from diabetes in 2017 and this number is expected to rise significantly. The rising penetration of the giant biopharma companies in the developing regions is expected to boost the growth of the biologics market in the foreseeable future.

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What are the key challenges in the Global Biologics Market?

There are certain developing nations in Asia Pacific and Europe where the availability of biologics is limited. Moreover, in most of the developing and underdeveloped nations, there is a lack of basic healthcare facilities in several areas. Most of the people remain undiagnosed and untreated. Further, the lack of health insurances, low affordability, and lack of awareness among the low and middle income consumer results in the low demand for the biologics. Therefore, the lack of access to the healthcare and medical facilities in the underdeveloped and developing markets is a major challenge for the market players that may restrict the growth of the market.

Asia Pacific Forecast the Strongest Growth Rate During the Forecast Year (2022-2030)

Asia Pacific is the home to world’s largest population. Further, the incidences of various chronic diseases is rising rapidly. Country like India is said to be the diabetes capital of the world. Similarly, the prevalence of various chronic diseases in the Asia Pacific region is growing rapidly. Furthermore, the rapidly growing geriatric population in the region is expected to have a significant impact on the growth of the biologics market. According to the United Nations, the about 80% of the worldwide geriatric population will be living in the low and middle income nations. These factors makes the region the fastest-growing biologics market.

Top Biologics Manufacturers

Eli Lilly & Company, Samsung Biologics, F Hoffman La Roche, Celltrion Addgene, Amgen, Abbvie Inc., Sanofi, Pfizer Inc., Merck & Co. Inc, and Novo Nordisk A/S are the major market players.

Market Segmentations:

By Source

• Microbial
• Mammalian
• Others

By Product

• MABs
• Vaccines
• Hormones
• Therapeutic Enzymes
• Recombinant Proteins
• Antisense, RNAi & Molecular Therapy
• Blood Factors and Anticoagulants
• Allergenic extracts
• Human Cells and Tissues
• Proteins
• Gene Therapies
• Cellular Therapies
• Others

By Disease

• Oncology
• Immunological Disorders
• Cardiovascular Disorders
• Hematological Disorders
• Others

By Manufacturing

• Outsourced
• In-house

By Route of Administration

• Oral
• Others (IV and IP)

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

Regional Segmentations:

• North America (U.S. and Canada)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

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