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The Global Biologic Therapeutics Market size is estimated to grow at a CAGR of 11.34% between 2022 and 2027. The size of the market is forecast to increase by USD 286.12 billion. The growth of the biologic therapeutics drugs market depends on several factors, including the introduction of biosimilars, increasing incidence of chronic diseases and immunological disorders, and patent expiry of major biologics.
This biologic therapeutics market research report extensively covers market segmentation by application (cancer, infectious diseases, autoimmune diseases, and others), product (antibody therapeutics, vaccines, cell therapy, gene therapy, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The introduction of biosimilars is notably driving the biologic therapeutics market growth. A biosimilar is a biological product that closely resembles an already approved biopharmaceutical without clinically meaningful differences in safety, purity, and efficacy. They have been developed using different cell lines, manufacturing processes, or formulations, but have the same mechanism of action as the original biologic. The introduction of biosimilars has the potential to drive the biologic therapeutics market through increased competition and reduced treatment costs. Biosimilars have the potential to give patients who otherwise could not have increased access to life-saving medicines. Biosimilars can also help reduce medical costs.
This is especially important as healthcare costs continue to rise. A biosimilar is considered a successor to a biopharmaceutical when the biopharmaceutical is nearing its expiration date. The introduction of biosimilars is the latest trend in the pharmaceutical market not only to replace off-patent biologics but also to help reduce healthcare costs. Therefore, the availability of biosimilars will drive the growth of the global biologic therapeutics drugs market during the forecast period.
The strong R&D pipeline is a key trend influencing the biologic therapeutics market growth. The effectiveness of biologics in treating serious infections, malignancies, immune disorders, and hormonal disorders encourages manufacturers to invest in research and development for the development of biologics. For example, monoclonal antibodies are one of the fastest-growing areas of biologic therapy. To date, 153 monoclonal antibodies have been approved or are under investigation in the EU and US for various indications. Similarly, when biologics are used as vaccines or therapeutic proteins, a pipeline of vendors such as AbbVie and Amgen are investigating biologics, and many research institutes are also working with the industry to develop new biologics. Therefore, therapeutic vaccine research and development is expected to drive the growth of the global biologic therapeutics drugs market during the forecast period.
Also, biologics are products made from living organisms, as opposed to chemically synthesized pharmaceuticals. Biologics are made by recombinant deoxyribonucleic acid (DNA) technology and have fewer side effects compared to chemical agents. In addition, one of the greatest advantages of biologics is their ability to target specific areas of the body therapeutically. Similarly, other biologics, including vaccines, are well absorbed by the body and have therapeutic effects in specific areas of the body. Therefore, targeted therapeutics are also expected to drive the growth of the global biologics market over the forecast period.
The high cost of biologics is challenging the biologic therapeutics market growth. Biologics can be used to treat many types of malignancies, hormonal imbalances, and autoimmune diseases, but they are expensive and out of reach for the economically disadvantaged. Total manufacturing costs, including those associated with clinical trials associated with biologics, contribute to vendors' high-cost offerings for these products. The evolution of biological molecules requires another organism. While the production of bacteria is less expensive, the production of therapeutics such as monoclonal antibodies and vaccines is expensive due to the need to handle animals. Animal immunization and other procedures related to antibody and vaccine production increase the cost of this product.
The use of animals for production also requires government approval and the establishment of facilities to house the animals. This increases the overall cost of producing biologics. Due to the high price of biologic therapy, many patients are unable to access this effective treatment, which will remain a major challenge for the global biologic therapeutics drugs market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Biologic Therapeutics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the biologics market.
AbbVie Inc: The company manufactures, conducts research and development, commercializes, and sells innovative medicines and therapies in order to achieve long-term strategic goals.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The biologics market share growth by the cancer segment will be significant during the forecast period. Cancer cells are cells that have lost the property of contact inhibition and continue to actively divide, often resulting in clumps of cells called tumors. In oncology, biologics are used together with chemotherapeutic agents to target only cancer cells. In contrast, chemotherapeutic agents act on cancer cells and normal cells in the body, thereby producing side effects including hair loss, nausea, and fatigue. The use of biologics in the field of oncology is expected to overtake chemotherapy as the biomolecular aspects of cancer become more defined. Hence, it is expected to drive the growth of the global biologic therapeutics market during the forecast period.
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The cancer segment was valued at USD 122.20 billion in 2017 and continued to grow until 2021. The antibody therapeutics segment is the largest segment in the global biologic therapeutics market. Due to their high specificity, antibody therapeutics have some side effects. As a result, antibody therapies have become a major class of new drugs being developed in recent years. Over the past five years, antibodies have become the best-selling drugs in the pharmaceutical industry. Monoclonal antibodies are one of the best-selling biologics and have even been called the future of medicine. Such factors are expected to drive the growth of the global biologic therapeutics market during the forecast period.
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North America is estimated to contribute 57% to the growth of the global biologics market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the leader in the global biologic therapeutics market. The dominance of this region is due to several factors. The United States is home to major companies such as AbbVie, Eli Lilly, Merck, Pfizer, and Amgen. These vendors offer a range of highly differentiated products that have become well-received by both physicians and patients. One of the reasons behind the market growth in America is the increase in chronic diseases. The increasing prevalence of major health disorders is primarily due to lifestyle changes and increased alcohol and tobacco use in the United States. However, only modest market growth is expected due to the patent expiry of key biologics on the market.
In 2020, the COVID-19 pandemic had a significant impact on the biologic therapeutics market. Biologics, macromolecular pharmaceuticals made using living cells, are an important part of the pharmaceutical industry and are used to treat a variety of diseases, including COVID-19. The COVID-19 pandemic has significantly increased the demand for biological therapies to treat COVID-19 patients. Several of North America's leading biotech companies, including Eli Lilly and Pfizer, are developing and commercializing COVID-19 treatments. However, the pandemic has also brought challenges to the North American bioindustry. Such factors are anticipated to drive the growth of the biologic therapeutics drugs market during the forecast period.
The biologic therapeutics market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Biologic Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.34% |
Market growth 2023-2027 |
USD 286.12 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.6 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 57% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Amgen Inc., Apogenix AG, AstraZeneca Plc, Aurobindo Pharma Ltd., Baxter International Inc., Biocon Ltd., BioMarin Pharmaceutical Inc., Celltrion Healthcare Co. Ltd., Eli Lilly and Co., GangaGen Biotechnologies Pvt Ltd., GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Merck and Co. Inc., Novartis AG, Pfizer Inc., Precision Biologics Inc., Samsung Electronics Co. Ltd., Sanofi SA, and Tubulis GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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