Biologics Market 2023 Industry Report, Growth, Forecast by 2028
According to IMARC Group latest report titled “Biologics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on biologics market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global biologics market size reached US$ 321.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 535.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Biologics, also known as biological medications, represent disease-modifying antirheumatic drugs (DMARDs) made from living organisms or consist of elements of living organisms. They include several products, such as genes, tissues, allergens, vaccines, blood components, cells, and recombinant proteins, derived from animals, birds, insects, humans, plants, and microorganisms. Biologics modify human hormones and cells and control the production of vital proteins while creating substances to activate and suppress the immune system. They also change the manner of operation of natural intracellular and cellular actions. In addition, biologics are utilized to treat various illnesses and conditions, including ulcerative colitis, Crohn’s disease, rheumatoid arthritis, and other autoimmune ailments.
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Market Trends:
The escalating cases and diagnosis of chronic diseases have necessitated the availability of advanced diagnostics and treatment drugs, which are among the primary factors driving the biologics market. Besides this, the launch of several policies by the government bodies to promote the healthcare sector and ensure the availability of innovative medicine, owing to the sudden outbreak of the COVID-19 pandemic across the globe, is further augmenting the market growth. Moreover, the introduction of advanced methods of manufacturing biologics genetically to target a specific part of the immune system that fuels inflammation is also catalyzing the global market. Apart from this, scientists and researchers are extensively investigating species and expression techniques to enhance the productivity of biological variants, which are acting as significant growth-inducing factors. Furthermore, the inflating investments of the leading pharmaceutical companies in research and development (R&D) activities to improve the efficacy of oral products for rheumatoid arthritis and Crohn’s disease are expected to bolster the biologics market in the coming years.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AbbVie Inc.
Amgen Inc.
AstraZeneca plc
Hoffmann-La Roche Ltd
GlaxoSmithKline plc
Johnson & Johnson
Merck KGaA
Novartis AG
Pfizer Inc.
Sanofi
Biologics Market Segmentation:
Our report has categorized the market based on region, source, product, disease and manufacturing.
Breakup by Source:
Microbial
Mammalian
Others
Breakup by Product:
Monoclonal Antibodies
Vaccines
Recombinant Proteins
Antisense, RNAi and Molecular Therapy
Others
Breakup by Disease:
Oncology
Immunological Disorders
Cardiovascular Disorders
Hematological Disorders
Others
Breakup by Manufacturing:
Outsourced
In-House
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
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