“Global Biologicals market set to grow to $266bn by 2024” says new Visiongain report
28 August 2019
Visiongain has published a new pharma report Biologics Market Report: Protein Therapeutics, Monoclonal Antibodies, Fusion Proteins, Regenerative Medicines, Insulin, Other Recombinant Hormones, Plasma & Recombinant Coagulating Factors, Interferons, Enzyme Replacement, Stem Cell Therapies, Tissue Engineered Products, Gene Therapies.
The global biologics market is estimated to reach $266bn in 2024. The market is expected to grow at a CAGR of 4.8% from 2019 to 2024. In 2018, the monoclonal antibodies submarket held 36% share of the global biologics market.
This report profiled the selected companies: AbbVie, Alexion Pharmaceuticals, Amgen, AstraZeneca, Bayer, Celgene Corporation, Eli Lilly, Gilead Sciences, GlaxoSmithKline (GSK), Johnson & Johnson, Merck & Co., Inc., Novartis, Pfizer, Precision Biologics, Roche, Samsung Biologics, Sanofi S.A., Takeda and other companies.
The lead analyst commented that "One major challenge for the market will be maintaining the high price tags thus high revenues for individual products. In some cases, they can only offer marginal clinical gains, which make their much higher cost over alternative modalities a lot harder to justify. Thus, one of the major struggles for the market will be to continue justifying the cost of goods – to regulators and healthcare payers."
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