According to MarkNtel Advisors’ research report, “Global Biologics Market Analysis, 2021,” the market is likely to witness around 9% CAGR during 2021-26. The continuous development in cellular & gene therapy augments the market growth owing to its high efficiency and therapeutic results. Moreover, CAR-T cell therapies are new therapies approved by the FDA for oncology indications. Other growth drivers for the biologics market include the increasing biologics approvals, growing availability of advanced diagnostics, and bolstering auto-immune diseases. The COVID-19 pandemic is likely to have a positive impact on research spending on biologics. Yet, the market facades some factors, including the high cost of biologics, hindering its growth.
Key Questions Answered in the Study
Further key findings from the study suggest:
Oncology Segment Captured Significant Market Share
Based on the Therapeutic Application, the market bifurcates into Oncology, Infectious Disease, Autoimmune Disease, Diabetes, Metabolic disorders, Inflammatory Bowel Diseases, Respiratory Disorders, Neurological Disorders, Cardiovascular Disorder, Musculoskeletal Disorders, and Ophthalmic Disorders. The Oncology segment acquired the largest market share in the Global Biologics Market in the previous few years. The segment growth owes to the abundant availability of better diagnostics and easy access to skilled healthcare professionals, which increases the demand for biologics. The biological therapy used in cancer helps recognize and kill cancer cells from the immune system. Hence, these factors lead to aiding the growth of the segment in the biologics market.
“Global Biologics Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Biologics providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-pacific region is likely to register the fastest growth in the Global Biologics market during 2021-26. It owes to the rapidly increasing population in the Asia Pacific countries like India and China. In addition to this, rising incidences of chronic diseases, such as cancer and arthritis, in the region are other critical aspects likely to contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report “Global Biologics Market Analysis, 2021.”
According to MarkNtel Advisors, the leading players in the Global Biologics Market are Abbive Inc., Amgen Inc., F. Hoffman La Roche, Samsung Electronics, Merck & Co., AstraZeneca Plc., Bristol-Myers Squibb, Novartis, Pfizer, and Sanofi.