The surge in growth of the biologics market is associated with Continuous development in cellular & gene therapy further augments the market owing to its high efficiency and therapeutic results. CAR-T cell therapies are the new therapies that are approved by the FDA for oncology indications. Other growth drivers for the biologics market are increasing biologics approval, growing, increased availability of advanced diagnostics, bolstering auto-immune diseases. COVID-19 is expected to have a positive impact on research spending on biologics.
Moreover, the increased growth for the biologics market is foreseen owing to the expansion of international players in developing nations. In 2020, Novartis AG received the approval from the Ministry of Health, and Labor & Welfare (MHLW), Japan to sell Kymriah for cancer treatment.
According to MarkNtel Advisors’ research report “Global Biologics Market Analysis, 2020”, the Global Biologics market is anticipated to grow at a CAGR of around 10% during 2020-25. Yet, the market facades some restraints that are hindering the growth of the market. High cost of biologics constraints the global biologics market globally.
In-House Manufacturing Segment Contribute the Highest Market Share
Based on the manufacturing segment, the in-house segment bagged the largest market share owing to the large number of companies opting for in-house manufacturing than to purchase the entity or outsource it. The investments are done in by the CMO’s for mushrooming commercial biopharmaceutical manufacturing capacity. The outsourcing segment is expected to showcase a gradual increase in demand during 2020-25 as revealed by MarkNtel Advisors’ in their research report “Global Biologics Market Analysis, 2020”.
Spurring Demand for Biologics in Treatment of Chronic Diseases
Biologics are used profoundly used to provide effective treatment for many complex diseases such as rheumatoid arthritis, psoriasis, Crohn’s disease that have limited treatment options. With the advent of technology and innovation in the healthcare sector, there has been a significant escalation in the amenities and equipment for the treatment of rheumatoid arthritis patients who do not respond to traditional disease-modifying anti-rheumatic drugs. The key biologics used for treating rheumatoid arthritis are Adalimumab (HumiraInfliximab (Remicade), Anakinra (Kineret), Abatacept (Orencia) and Rituximab (Rituxan).
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Biologics market include Abbive Inc., Amgen Inc., F. Hoffman La Roche, Samsung Electronics, Merck & Co., AstraZeneca Plc., Bristol-Myers Squibb, Novartis, Pfizer, Sanofi, etc.
“Global Biologics Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Biologics providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Therapeutic Application (Oncology, Infectious Disease, Autoimmune Disease, Diabetes, Metabolic disorders, Inflammatory Bowel Diseases, Respiratory Disorders, Neurological Disorders, Cardiovascular Disorder, Musculoskeletal Disorders, Ophthalmic Disorders, Others),
2. By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies),
3. By Manufacturing (Outsource, In-house),
4. By Product/Drug Class (Recombinant therapeutic Products, Blood and Blood Components, Cellular and Gene Therapy, Vaccines, Oligonucleotides),
5. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia),
6. By Company (include Abbive Inc., Amgen Inc., F. Hoffman La Roche, Samsung Electronics, Merck & Co., AstraZeneca Plc., Bristol-Myers Squibb, Novartis, Pfizer, Sanofi)
Key questions answered in the study:
1. What are the current and future market trends of the Biologics industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Biologics industry?
5. What are the customer orientation, purchase behavior, and expectations from the Biologics firms across various regions?