Who are the key vendors in the Global Biologics Market?

The global biologics market is characterized by intense competition among key market players striving to maintain their market position and gain a competitive edge. The market is dominated by major pharmaceutical companies, biotechnology firms, and contract manufacturing organizations (CMOs) that specialize in biologic drug development and manufacturing. Biotechnology firms also play a significant role in the competitive landscape. Companies like Biogen, Genentech, and Gilead Sciences focus on developing cutting-edge biologics and investing in research to advance scientific understanding and therapeutic options. Biogen's multiple sclerosis drug, Tecfidera, and Gilead Sciences' antiviral drug, Remdesivir, have made substantial contributions to their market presence. 'Roche (Switzerland)', 'Johnson & Johnson (US)', 'AbbVie (US)', 'Amgen (US)', 'Novartis (Switzerland)', 'Pfizer (US)', 'Merck & Co. (US)', 'AstraZeneca (UK)', 'Bristol Myers Squibb (US)', 'Sanofi (France)', 'Eli Lilly and Company (US)', 'Gilead Sciences (US)', 'Biogen (US)', 'Celgene (US)', 'Novo Nordisk (Denmark)', 'Takeda Pharmaceutical Company (Japan)', 'Bayer (Germany)', 'GlaxoSmithKline (UK)', 'Boehringer Ingelheim (Germany)', 'Vertex Pharmaceuticals (US)'

What is the key driver of Global Biologics Market?

The rising prevalence of chronic diseases such as cancer, autoimmune disorders, and diabetes has been a significant driver for the biologics market. Biologics offer targeted and personalized treatments for these conditions, leading to improved patient outcomes. For example, in 2022, the U.S. Food and Drug Administration (FDA) approved several biologics for the treatment of various cancers, including Keytruda (pembrolizumab) and Opdivo (nivolumab).

What is the key market trend for Global Biologics Market?

Rising Focus on Personalized Medicine: Personalized medicine, also known as precision medicine, is gaining traction in the biologics market. The approach involves tailoring treatments to individual patients based on their genetic, environmental, and lifestyle factors. Advances in genomics and molecular diagnostics have enabled the identification of specific biomarkers and genetic mutations, leading to the development of targeted biologic therapies. For instance, the approval of drugs like Keytruda and Herceptin (trastuzumab) that target specific genetic mutations in cancer patients exemplify the trend towards personalized medicine.

Which region accounted for the largest share in Global Biologics Market?

In 2022, North America held the largest share of 44.37% in the biologics market. This can be attributed to several factors. Firstly, the region has a high prevalence of chronic diseases, driving the demand for biologic therapies. Additionally, North America is home to numerous leading pharmaceutical companies, contributing to the growth of the market. Favorable reimbursement policies and substantial investments in research and development further support the market's expansion. According to an article published in JAMA Network, biologics accounted for 37% of total drug spending in the United States. The increasing share of biologic prescriptions and investments in targeted drug development are key factors driving market growth. Moreover, the approval of novel biologic drugs such as gene therapy, antisense, and RNAi therapeutics is expected to propel the market even further.

Biologics Market Size, Share, Growth Analysis, By Product(Microbial, Antisense and RNAi Therapeutics Mammalian, Others), By Disease(Oncology, Hematology Disorders), By Manufacturing(Outsourced, and In-house), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35H2127 | Region: Global | Published Date: July, 2024
Pages: 219 | Tables: 155 | Figures: 78

Biologics Market Dynamics

Biologics Market Drivers

Increased Chronic Diseases

The increasing incidence of chronic conditions such as cancer, diabetes and autoimmune diseases has led to a demand for advanced biological therapies. These therapies use targeted therapy built and effective without conventional chemicals, boosting market growth.

Advances in Biotechnology

Technological advances in biotechnology, including genetic engineering, protein expression systems, and monoclonal antibody production, have expanded the capabilities and applicability of biological tools. This innovation increases the development of new natural medicines and helps market expansion.

Restraints

High Production Costs

The development and manufacture of natural merchandise calls for complex and costly techniques. These stringent regulatory requirements can restrict the affordability and availability of biologic cures, affecting marketplace boom.

Regulatory Approval Challenges

Bioscientists face the rigorous regulatory scrutiny and prolonged approval approaches, that can delay new treatments achieving the market. These challenges can hinder the growth of the bioscience sector, especially for emerging and smaller biotechnology companies.

Biologics Market Report Snapshots

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Global Biologics Market size was valued at USD 462 Billion in 2022 and is poised to grow from USD 510.05 Billion in 2023 to USD 11125.55 Billion by 2031, at a CAGR of 10.40% during the forecast period (2024-2031).

The global biologics market is characterized via extreme opposition amongst key market gamers striving to hold their market position and benefit from a competitive side. The marketplace is dominated with the resource of essential pharmaceutical agencies, biotechnology companies, and agreement production agencies (CMOs) specializing in biologic drug improvement and production. Companies which include Biogen, Genentech, and Gilead Sciences are interested in growing modern-day biologics and investing in studies to expand medical understanding and recuperation options. Biogen's more than one sclerosis drug, Tecfidera, and Gilead Sciences' antiviral drug, Remdesivir, have made vast contributions to their market presence. 'Roche (Switzerland)', 'Johnson & Johnson (US)', 'AbbVie (US)', 'Amgen (US)', 'Novartis (Switzerland)', 'Pfizer (US)', 'Merck & Co. (US)', 'AstraZeneca (UK)', 'Bristol Myers Squibb (US)', 'Sanofi (France)', 'Eli Lilly and Company (US)', 'Gilead Sciences (US)', 'Biogen (US)', 'Celgene (US)', 'Novo Nordisk (Denmark)', 'Takeda Pharmaceutical Company (Japan)', 'Bayer (Germany)', 'GlaxoSmithKline (UK)', 'Boehringer Ingelheim (Germany)', 'Vertex Pharmaceuticals (US)'

The increasing incidence of chronic conditions such as cancer, diabetes and autoimmune diseases has led to a demand for advanced biological therapies. These therapies use targeted therapy built and effective without conventional chemicals, boosting market growth.

In 2022, North America held the most important sales proportion of 44.37% in the biologics marketplace. This may be attributed to several elements. Additionally, North America is domestic to several leading biopharmaceutical corporations, contributing to the growth of the marketplace. Favorable reimbursement guidelines and sizeable investments in studies and development in addition help the market's expansion.

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Biologics Market Size, Share, Growth Analysis, By Product(Microbial, Antisense and RNAi Therapeutics Mammalian, Others), By Disease(Oncology, Hematology Disorders), By Manufacturing(Outsourced, and In-house), By Region - Industry Forecast 2024-2031

Biologics Market Dynamics

Biologics Market Report Snapshots

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Who are the key vendors in the Biologics Market?

What is the key driver of Biologics Market?

What is the key market trend for Biologics Market?

Which region accounted for the largest share in Biologics Market?

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