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| Global Biologics Market Size |
Biologics are medicinal products derived from living organisms and their
components used for treating various chronic diseases including cancer,
autoimmune disorders, and other genetic disorders. Biologics such as monoclonal
antibodies, vaccines, and recombinant proteins have shown immense potential in
diagnosing and effectively treating conditions for which traditional treatments
have yielded limited success.
The global
biologics market is estimated to be valued at US$ 463.06 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period
2024-2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The increased use of biologics for treating chronic diseases is one of the key
trends driving the growth of the global biologics market. Biologics have
emerged as an effective therapeutic option for chronic health conditions that
otherwise lacked targeted treatment options. For instance, monoclonal antibody
drugs have revolutionized cancer treatment and significantly improved survival
rates. Similarly, biologics have gained widespread acceptance in effectively
managing autoimmune disorders such as rheumatoid arthritis, diabetes, and
inflammatory bowel disease. Their high specificity and ability to target the
root cause of illness without broader systemic effects have elevated biologics
as a preferred treatment regime for complex chronic diseases. This rising
preference for biologics amongst healthcare professionals as well as patients
continues to spur demand and increase the growth of the global market.
Segment
Analysis
The global biologics market is segmented based on products, therapeutic
applications and geography. Based on products the market is segmented into
monoclonal antibodies, vaccines, recombinant insulin, rDNA proteins, and
somatropin. Monoclonal antibodies sub-segment dominates the market as they
reduce rejection in organ transplantation and treat various autoimmune
disorders and cancers. Based on therapeutic applications, the market is
segmented into inflammation, oncology, autoimmune diseases, metabolic
disorders, infectious diseases and others. The oncology sub-segment leads the
market due to rising prevalence of cancer globally.
Key Takeaways
Global
Biologics Market Size is expected to witness high growth over the
forecast period of 2024 to 2031.
Regional analysis: North America dominates the global biologics market with the
highest market share. This is attributed to presence of established healthcare
infrastructure, increasing biopharmaceutical R&D activities and high
adoption of biologics products. Asia-Pacific region is expected to grow at the
fastest CAGR during the forecast period. Growth in this region is driven by
supportive government policies and funding for pharmaceutical research,
improving healthcare infrastructure and increasing awareness about biologics.
Key players operating in the biologics market are Advanced Accelerator
Applications (AAA), Amgen Inc., AstraZeneca, Bayer AG, Bristol Myers Squibb
Company, Eli Lilly and Company, GlaxoSmithKline plc, Johnson & Johnson,
Merck & Co., Inc., Novartis AG, Novo Nordisk A/S, Pfizer Inc., Roche,
Sanofi. Advanced Accelerator Applications (AAA), Amgen and Roche are dominating
the market with innovative product launches and strategic collaborations with
research institutions.
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