Press Release Description

Global Biologics Market to Flourish Due to Enhanced Adoption of Cell & Gene Therapy

The Global Biologics Market size is valued at USD 408.5 billion in 2023 and is projected to grow at a CAGR of around 8.25% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The gene & cellular treatments have seen a significant surge in adoption due to their remarkable capacity to replace damaged tissues. This growth has been further propelled by increasing investments in research & development, particularly in cell & gene therapies, which has led to the development of more effective drugs.

Companies like Ori Biotech, AstraZeneca Plc, and GlaxoSmithKline Biologicals have notably boosted funding for R&D initiatives aimed at introducing groundbreaking products, which has expedited the pre-commercialization and market launch processes, contributing significantly to market growth. Further, government bodies such as the United States Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are also playing a key role in accelerating approvals for these therapies. Hence, as approvals continue to accelerate, there's a promising opportunity for increased adoption of these therapies in the coming years.

Additionally, the growth of the Biologics Market has been largely attributed to the ongoing advancements in the expansion of targeted biologics treatment. In addition, investments in R&D activities of personalized medicine augment the widespread adoption of targeted therapies among patients as they are seeking effective remedies with minimal risks/allergies. Thus, with continued advancement, these sophisticated solutions are expected to witness an increase in demand due to their remarkable results in the coming years, further states the research report, “Global Biologics Market Analysis, 2024”.

Global Biologics Market

Global Biologics Market Segmentation Analysis

Monoclonal Antibodies to Witness Significant Growth in the Global Biologics Market

Based on the drug-class segment, the market is further bifurcated into Recombinant Proteins, Monoclonal Antibodies, Blood and Blood Components, Cellular and Gene Therapy, Vaccines, and Others. Out of these, Monoclonal Antibodies (mAbs) have emerged as a potent solution for treating a range of ailments, such as cancers, autoimmune disorders, and infections. The advancements in antibody engineering & hybridoma technologies have paved the way for the development of precise & effective mAbs, thereby driving the growth of the Global Biologics Market. Moreover, the increasing prevalence of diseases like rheumatoid arthritis (RA), various cancers, viral infections, and gastrointestinal disorders, among others, has fueled the demand for monoclonal antibodies, as they are widely utilized across several therapeutic areas to combat these conditions.

North America to Overpower the Other Regions

Geographically, North America has maintained a significant share of the Global Biologics market. This dominance has been attributed to the robust healthcare infrastructure & substantial investments in biopharmaceutical research within the region. With North America being home to numerous biopharmaceutical companies and research institutions fostering innovation, it is poised for promising market growth in the future.

Furthermore, the conducive regulatory environment has played a pivotal role in driving market growth by facilitating accelerated approvals for biologics. Also, the increasing prevalence of various diseases, coupled with heightened awareness among affected individuals & their openness to exploring new treatment options, is expected to further drive the demand for biologics in North America in the years to come.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Bristol-Myers Squibb, Pfizer, Sanofi, Janssen Biotech, Inc., Bayer AG, Merck & Co., Amgen Inc., Abbott GmbH, Novartis, AstraZeneca Plc, GlaxoSmithKline Biologicals, Moderna, Inc., Ferring Pharmaceuticals Inc., Aimmune Therapeutics, Inc., F. Hoffman La Roche, and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the Global Biologics Market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various regions?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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