Biologics Market 2019 – 2023 Business Insights, Growth Opportunities, Industry Size and Share Analysis by MRFR
May 6, 2019
The Global Biologics Market is set to touch USD 285,520.4 million by 2023, according to Market Research Future (MRFR). Global Biologics Market Research: by Product (Monoclonal Antibody, Interleukins, Vaccines, Gene Therapy, Others), by Disease Indication, by Manufacturing, and Region - Forecast to 2023
Pune, India - May 6, 2019 /MarketersMedia/ —
This report of Market Research Future studies the Global Biologics Market outlook of Global Market 2019. The global key-word exploring the market record explore on defining and evolving the key elements for the development of the key-word market and forecasts till 2023. The Biologics Market research report gives recent trends, Size, Share, Growth information uniquely in depth.
Biologics Market – Overview
Market Research Future (MRFR) recently furnished a report that predicts a lucrative future for Global Biologics Market. The report further adds that the market will be reaching the valuation of USD 285,520.4 million by the end of 2023 and is on track to expand at a CAGR of 6.95% during the forecast period (2018-2023).
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Key Players
Sanofi (France),
Pfizer Inc. (U.S.),
Amgen (U.S.),
F. Hoffman-La Roche AG (Switzerland),
AbbVie Inc. (U.S.),
Bayer AG (Germany),
AstraZeneca (U.K.),
GlaxoSmithKline Plc (U.K.),
Novartis AG (Switzerland),
Eli Lilly and Company (U.S.),
are among some of the leading companies in the global biologics market.
Five players out of these are at the top with over 70% share of the total market, which are Roche, AbbVie, Amgen, GSK and Pfizer.
Market Drivers and Key Restraints
Data experts are predicting that the biologics market is on track to find greener pastures with increasing efforts and collective investments made towards the development of biologics with certain applications. An investment of more than USD 1.5 bn has been made by top 10 pharmaceutical companies in the past five years, translating into capacity expansion along with a rise in research and development. Numerous drug companies are earning massive profits due to premium prices that increase their profit margins between 20.0% and 40.0%. a predominant factor that is transforming the market dynamics is the growing product approvals on account of biologic’s ability to successfully treat highly complex diseases, which had been almost impossible in earlier times.
Market Opportunities
Introduction of Personalized Medicines Supports Market Growth
With drastic developments in gene and cell therapies, antibody drug conjugates and immunotherapies, the expected growth of biologics in the future is touted to be excellent. Trade pundits predict that biopharmaceuticals are poised to maintain their growth trend backed by innovative technologies and therapies. Personalized medicine and regenerative therapy are two areas that are developing at a speedy rate. Furthermore, personalized medicines that are based on immunotherapies, antibody drug conjugates and gene therapies are exhibited to be introduced in following years, which will offer lot of promise for regenerative medicine and focused disease remission. Key Players for Global Biologics Market
Recent Developments
April 2019
WuXi Biologics and NBE-Therapeutics (NBE) have entered into a partnership, and are in the process of developing and manufacturing NBE's first ADC lead product known as NBE-002 (anti-ROR1). The product refers to an immune-stimulatory ADC (iADC) treatment that protects against ROR1 cancer target.
Segments for Global Biologics Market
The market for biologics is segmented on the basis of product, disease indication, and manufacturing.
The product-wise segments in the biologics market include monoclonal antibody, interleukins, vaccines, growth factors, gene therapy, and others. Monoclonal antibody market is poised to reach the size of USD 92,597.4 million at a CAGR of 3.44% during the assessment period. The growth of the market has been the result of the growing use of monoclonal antibodies (mAbs) for enhancing the immunity system. On the other hand, vaccines made for about 21% of the total market in the year 2017, and is growing at the fastest rate in the forthcoming years. It is on its way to exhibit 6.75% CAGR, and is predicted to reach the valuation of USD 66,743.5 million by the end of the review period.
Based on disease indication, the market has been considered for cancer, diabetes, rheumatoid arthritis, psoriasis/psoriatic arthritis, ankylosing spondylitis, ulcerative colitis, Crohn’s disease, juvenile idiopathic arthropathy, cardiovascular diseases, and others. Among these, in 2018, cancer controlled close to 19.2% share of the biologics market, whereas the rheumatoid arthritis segment is expected to topple the cancer segment from the top position by 2023. The segment will be representing a CAGR of 8.78% in the coming years, on account of the rapid approval of diverse types of drugs by the regulatory agencies.
Manufacturing-wise, two major methods covered in the report are outsourced and in-house. Out of these, the latter will exhibit a higher growth rate as a result of the presence of pharmaceutical companies, especially emerging companies that are researching the formulations at a very cheap price. Also, the outsourced segment is deemed to garner revenue of almost USD 112,162.4 million by 2023.
Regional Analysis for Global Biologics Market
The North American region, heading with its well-developed healthcare sector accounts for the leading position in the global biologics market followed by the European and Asia Pacific region, respectively. Simultaneously, factors such as the high-volume production of pharmaceuticals and the huge demand for biologics led by the high healthcare expenditure.
Undoubtedly, the availability and the wide uptake of new technologies to develop advanced production methods is positively impacting market growth. The US, backed by the huge technological advancements in the field of manufacturing biologics leads the regional market.
The European region owns the next largest share in the global biologics market, following the North American market closely. Factors propelling the growth of the regional market include the resurging economy that is availing the best possible healthcare & substantially high healthcare expenditures and the government support that encourages manufacturers of biologics to develop new and effective biologics.
The Asia Pacific region is emerging as a profitable market for biologics due to the rapidly improving healthcare infrastructure. Moreover, factors such as the ever-increasing population that is continually dictating the demand for quality healthcare and the spreading awareness towards the availability and benefits of biologics are positively impacting the growth in the regional market.
Rapidly developing economies are expected to provide immense opportunities for the growth of biologics. Also, the increasing adoption of technologies is positively impacting market growth in the region. Furthermore, rising healthcare concerns along with the fast-proliferating healthcare sector, increase the market size of the biologics market in the APAC.
Related Report:
Monoclonal antibody therapy market information, by source (recombinant, chimeric, humanized, human, and other), by application (diagnostic test, analytical and chemical uses, cancer treatment, autoimmune diseases, hematological disorders, and others) by end users (hospitals, clinic, research laboratories and others) - Forecast to 2022
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Source: MarketersMedia
Release ID: 509340
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