MarkNtel Advisor’s latest research report states that the Global Biologics Market size is valued at USD 408.5 billion in 2024 and is likely to grow at a CAGR of around 8.25% during the forecast period, i.e., 2024-30. The major aspects propelling the market growth include the rising costs in healthcare, the growing inactive and detrimental lifestyles of the population, and the intensifying number of people suffering from disease diseases.
Along with these, additional factors such as the greater usage of monoclonal antibodies for treating diseases, revolution and development in the healthcare and biotechnology sectors, and for the treatment of diseases such as anemia, rheumatoid arthritis, osteoporosis, Alzheimer’s, etc., are also driving the growth of the Global Biologics Market.
The report further states that the prevalence of diseases, like cancer and autoimmune disorders that are quite challenging to deal with and cure also accentuate the prominence of targeted therapeutic interventions, and hence, have been fuelling the necessity for biologics over the past years. Furthermore, the increasing prefernces for gene therapy & cellular therapy are also likely to increase the market growth.
Analyzing the Segmentation of the Global Biologics Market
- By Therapeutic Application (Oncology, Infectious Disease, Autoimmune Disease, Diabetes, Cardiovascular Diseases, and Others (Inflammatory Bowel Diseases, Respiratory Disorders, Ophthalmic Disorders, etc.))
- By Drug Class (Recombinant Proteins (Hormones & Cytokines), Monoclonal Antibodies, Blood & Blood Components, Cellular & Gene Therapy, Vaccines, and Others)
- By Source (Microbes, Humans, and Others (Rodents, Plants, etc.))
- By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)
The Oncology segment experienced significant market growth in the past years owing to the increasing demand to treat cancer. The demand for biologics production and distribution has escalated globally, owing to the increasing requirement to treat cancer and reduce the rate of mortality. The governments of numerous countries, such as the US, Canada, India, China, etc., are progressively emphasizing heightening investments in oncology drug development, which is driving the market growth. Moreover, cancer treatments have further been transformed by biologics, including monoclonal antibodies and immune checkpoint inhibitors.
North America dominated the Global Biologics Market with the highest share given its robust medical infrastructure and huge investments in biopharmaceutical studies. Moreover, the region is seen as a favorable location for the development of the biologics market in the coming years since it hosts a substantial number of biopharmaceutical companies and research institutions that nurture innovation & revolution. The availability of a promising regulatory environment, which promotes enhanced approvals for biologics, the rising occurrence of numerous diseases along the increasing consciousness to discover novel treatment modalities is likely to propel the demand for biologics in North America in the projected time frame.
Top Players in the Global Biologics Market
The major companies holding a substantial share in the Global Biologics Market include 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. These companies have an extensive consumer base and back the overall market growth.
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