04 July 2022
Visiongain has published a new report entitled the Biologics Market Report 2022-2032: Forecasts by Product Type (Monoclonal Antibodies, Vaccines, Protein Therapeutics Fusion Proteins and Regenerative Medicine), by Application (Oncology, Autoimmune Disorder, Infectious Diseases, Cardiovascular Disorders, Hematological Disorders, Others), by Manufacturing (Outsourced, In-house) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global biologics market was valued at US$382.85 billion in 2022 and is projected to grow at a CAGR of 8.82% during the forecast period 2022-2032.
How has COVID-19 had a Significant Positive Impact on the Biologics Market?
The COVID-19 pandemic has had a substantial detrimental influence on the global biologics business. The supply chain of biologics was disrupted due to the COVID-19 outbreak and lockdown. Hospitals and clinics are primarily reserved for serious and critical COVID-19 patients. Because of covid-19 and its various variations, researchers faced hurdles. The demand for numerous vaccinations and other preventative majors surged dramatically as a result of COVID-19. Since these vaccines and other preventable majors are currently on the market, the impact of COVID-19 on the biologics market is minimal.
How this Report Will Benefit you?
Visiongain’s 475-page report provides 308 tables and 320 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses of the global biologics market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for biologics. Get the financial analysis of the overall market and different segments including product, application, and manufacturing. We believe that high opportunity remains in this fast-growing biologics market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Advancements in Biomedical Science to Fuel Market Growth
Biological drugs are the result of cutting-edge research and allow for the most recent scientific breakthroughs. Such breakthroughs can lead to novel medicines that offer patients with new treatment options. Furthermore, a better knowledge of disease's genetic and molecular underpinnings has paved the way for the creation of a variety of tailored treatments. Recombinant proteins, for example, assist the immune system in identifying and binding foreign molecules. Due to the productivity of small molecule therapeutic R&D dropping, biologics are projected to grow rapidly in the next years. For the sake of the market position, major market players in the pharmaceutical industry continuously focus on developing innovative drugs.
Growing Occurrence of Chronic Diseases will Drive the Adoption of Biologics
The rising prevalence of chronic diseases is a primary driver of the global biologics industry. Cancer incidence is expected to rise from 19.3 million in 2020 to 24.6 million in 2030, according to Globocan estimates. Furthermore, diabetes is another chronic condition, with the number of diabetics expected to reach 587 million by 2030.
Constant advances in biotechnology and biomedical science techniques have greatly accelerated the process of developing biologics for the treatment of a variety of chronic illnesses. Products range from simple monoclonal antibodies to targeted pharmaceuticals such as radio-immunotherapies, antibody-drug conjugates, and bispecific antibodies that can target multiple locations simultaneously.
Where are the Market Opportunities?
Biologic Therapies are Becoming Relevant in a Greater Number of Disease Areas
In a growing variety of illness categories, biological treatments are becoming more important. These firms will be looking for ways to expand their disease-area leadership by investing in biologic medicines and biotech capabilities. For instance, AstraZeneca, one of the leading firms in the respiratory sector is prepared to join the respiratory biologics market with its new drug, benralizumab.
The major players operating in the biologics market are Johnson & Johnson Services, Inc., Merck KGaA, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc., Novartis AG, Pfizer Inc., Sanofi, Novo Holdings A/S (Novo Nordisk A/S), Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Bristol-Myers Squibb Company, Biogen, NuVasive, Inc., ORTHOFIX INTERNATIONAL N.V., Organogenesis Holdings Inc., Abbvie Inc., These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• Feb 2021, GlaxoSmithKline plc and CureVac N.V. announced a new €150m (~202 mn) collaboration, building on their relationship, to jointly develop next-generation mRNA vaccines for COVID-19 with the potential for a multi-valent proceed towards addressing various evolving variants in a single vaccine.
• April 2021, BMS announced its plans to build a new manufacturing site for the cell therapy division in the Netherlands.
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