Pune, India, December, 2022/press release/- Market Research Future Published a Cooked Research Report on Global Biologics Research Report.
The global Biologics Market is accounted to register a CAGR of 7.6% during the forecast period and is estimated to reach USD 710.53 billion by 2030.
the global biologics market was experiencing significant growth and was expected to continue expanding in the coming years. Biologics are therapeutic products derived from biological sources, such as living cells or organisms, and are used for the treatment of various diseases and medical conditions. Key factors driving the growth of the global biologics market include increasing prevalence of chronic diseases, advancements in biotechnology and genetic engineering, growing demand for personalized medicine, and a shift towards more targeted and effective treatments.
The global Biologics Market has been segmented based on Product, and Disease Indication.
The market segmentation of Biologics, based on product includes, monoclonal antibody, interleukins, vaccines, growth factors, gene therapy, others. The monoclonal antibody segment held the majority share in 2022 in the Biologics Market data. Healthy cells can be targeted with MABs without suffering any negative effects. Also, these medications are particularly helpful in managing cancer and treating autoimmune illnesses, such as rheumatoid arthritis.
The Biologics Market segmentation, based on disease indication, includes rheumatoid arthritis, psoriasis/psoriatic arthritis, cancer, diabetes, and others. The cancer segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The usage of biologics in the therapy of cancer must be used more frequently if the segment is to grow financially. Biologics support the immune system's ability to identify tumorous cells in the body, fight cancer, turn off cancerous cells' signals, and help cancer cells evade immune system cells, hence contributing in the market growth of the biologics. For instance, immunosuppressive drugs that target specific tumor cell chemical receptors stop tumor cells from signaling the immune system to be suppressed.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Biologics Market Research Report
The global Biologics Market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. North America Biologics market accounted for USD 194.87 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. The prevalence of chronic diseases, the existence of reputable pharmaceutical firms, and an increase in the number of biotech firms are the main market-driving drivers. The American Cancer Society indicates that there will be approximately 1,918,030 new cancer cases and 609,360 cancer deaths in the US in 2022. Additionally, the National Cancer Institute projects that by 2030, there will be 22.2 million cancer survivors, up from 17 million in 2020. The most prevalent cancers in the country are skin, bladder, colorectal, breast, lung, and prostate.
Europe Biologics market accounts for the second-largest market share. The dominance of this market in Europe is attributed to the presence of a sophisticated manufacturing industry, favorable reimbursement, the availability of numerous approved medications, and the target patient demographic. Moreover, UK market of biologics held the largest market share, and the Germany market of biologics was the fastest growing market in the region.
Asia Pacific Biologics Market is expected to grow at the fastest CAGR from 2022 to 2030. In the forthcoming years, it is projected that further efforts by regulators, policymakers, and the pharmaceutical industry to address the availability and affordability of biologics, particularly mAbs, will increase the market size for biologics. The country's ongoing proliferation of biologic-creating plants is one of the main factors influencing the market's expansion. For instance, WuXi Biologics stated in November 2021 that GMP operations had begun successfully at its Chinese medication production facility. Further, the China market of biologics held the largest market share, and the India market of biologics was the fastest-growing market in the region.
Key Findings of the Study
- The global Biologics Market, is expected to reach USD 710.53 billion by 2030, at a CAGR of 7.6% during the forecast period.
- Asia Pacific Biologics Market is expected to grow at the fastest CAGR from 2022 to 2030. In the forthcoming years, it is projected that further efforts by regulators, policymakers, and the pharmaceutical industry to address the availability and affordability of biologics, particularly mAbs, will increase the market size for biologics.
- The market segmentation of Biologics, based on product includes, monoclonal antibody, interleukins, vaccines, growth factors, gene therapy, others. The monoclonal antibody segment held the majority share in 2022 in the Biologics Market data.
- GlaxoSmithKline Plc, Celltrion Inc., Samsung Biologics Co. Ltd., and G. Chem Ltd.