Market Overview
Biologics are drugs derived from living organisms or comprised of components of a living organism. It is available in the form of genetically engineered proteins. These drugs help in the treatment of chronic diseases, including cancer, neurology, and cardiovascular disorders.
According to MarkNtel Advisors’ research report, “Global Biologics Market Analysis, 2021,” the market is likely to grow at a CAGR of around 9% during 2021-26. The growth of the Biologics market is associated with several factors, such as the surging expenditures in healthcare, a hike in the sedentary lifestyles of individuals, and the rising number of chronic disease patients. Other factors driving the demand for biologics in the market include monoclonal antibodies for disease treatment and innovation & advancement in the healthcare & biotechnology sectors. Moreover, regulatory approval from the governments in different countries is also contributing to the growth of the Biologics market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 9% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy | |
| Asia-Pacific: China, India, Japan, South Korea, Australia | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | Abbive Inc., Amgen Inc., F. Hoffman La Roche, Samsung Electronics, Merck & Co., AstraZeneca Plc, Bristol-Myers Squibb, Novartis, Pfizer, Sanofi |
| Unit Denominations | USD Million/Billion |
COVID-19 Pandemic Positively Impacted the Market Growth
The impact of COVID-19 has been leading to numerous research initiatives in biologics to find a suitable cure. Due to the pandemic, the global investments in biologics increased due to continuous demand for producing small molecule drugs. Thus, with the increasing number of COVID-19 cases, the need for biologics increased significantly. All the postponed treatments and consultations resumed in the last few months of 2020, which has resulted in aiding the number of treatment procedures using biologics. Hence, the Global Biologics Market is very likely to witness a significant surge in its growth rate in the forthcoming timeframe.
Market Segmentation
Vaccine Segment Accounted for the Largest Market Share
Based on the Product/Drug Class, the market bifurcates into Recombinant therapeutic Products, Monoclonal Antibodies, Hormones, Cytokines, Enzymes, Blood & Blood Components, Cellular & Gene Therapy, Vaccines, and Oligonucleotides. The vaccines segment acquired a considerable market share in the Global Biologics Market in the previous few years. The segment growth owes to the increasing government & non-government initiatives for vaccine R&D activities and the prevention of various infectious diseases. Moreover, the development of bivalent & pentavalent vaccines that can prevent an individual from more than one disease worldwide is another factor likely to fuel the segment growth, cites MarkNtel Advisors in their research report, “Global Biologics Market Analysis, 2021.”
In-House Segment Dominated the Market
Based on Manufacturing Type, the market classifies into Outsource and In-house segments. Here, In-house manufacturing bagged the largest share in the Global Biologics Market in the previous few years. It owes to numerous companies opting for in-house manufacturing than to purchase the entity or outsource it entwined with the massive investments made by CMO’s for mushrooming commercial biopharmaceutical manufacturing capacity. However, the outsourcing segment is likely to showcase a gradual increase in demand in the coming years.
Regional Landscape
North America Region Attained the Highest Market Share
Geographically, North America held the largest market share in the Global Biologics Market in the previous few years. It owes to the spurring approvals in the US comprising larger patent protection than that in the European region. North America also witnessed the most prominent corona fatalities than other regions across the globe. This grim societal scenario is pushing the pharmaceutical giants to invest in biologics in cohesion with the governments. Other factors fueling the market growth in the region are growing diabetes patients, a surging aging population, and the availability of several research centers.
Market Driver
Spurring Demand for Biologics in Treatment of Chronic Diseases
Biologics are used profoundly for providing effective treatment for many complex diseases, such as rheumatoid arthritis and psoriasis, which have limited treatment options. With the advent of technology and innovation in the healthcare sector, there has been a significant escalation in amenities & equipment for 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).
Market Challenge
Limitations in Production of Access Capacity
A successful product launch of biologics drugs needs a very long time for performing research and development activities. It also requires massive capital investments. In addition to this, the production of biological drugs is a complex procedure, and stringent government regulations often delay the same. Hence, these factors restrain the growth of the Biologics market across the globe to a certain extent.
Competitive Landscape
According to MarkNtel Advisors, the major 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.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Global Biologics Market is forecast to grow at a CAGR of 9% during 2021-26.
A. Abbive Inc., Amgen Inc., F. Hoffman La Roche, Samsung Electronics, Merck & Co., AstraZeneca Plc., Bristol-Myers Squibb, Novartis, Pfizer, and Sanofi are a few of the leading players in the Global Biologics Market.
A. The Vaccine is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Biologics Market.
A. Burgeoning prevalence of chronic diseases, increasing research and development activities, rising investment for the development of biologics, the surge in healthcare spending, and a hike in the sedentary lifestyles of individuals are the prime factors backing the market growth.
A. Due to the Covid-19 pandemic, the global investments in biologics increased due to continuous demand for the production of small molecule drugs. Thus, with the increasing number of COVID-19 cases, the need for biologics increased significantly during the pandemic.
