The biologics market size was valued at USD 425.5 billion in 2022 and is projected to grow from USD 457.83 Billion in 2023 to USD 710.53 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.6% during the forecast period (2023 - 2030).
The biologics market continues its upward trajectory, driven by advancements in biotechnology, rising demand for personalized medicine, and increasing prevalence of chronic diseases. With a focus on therapeutic proteins, monoclonal antibodies, vaccines, and gene therapy products, the market showcases robust growth potential. Key factors include expanding research and development initiatives, favorable regulatory landscapes, and heightened investments in biopharmaceutical companies. Biologics' efficacy in treating complex diseases like cancer, autoimmune disorders, and infectious diseases propels market expansion. Additionally, technological innovations such as CRISPR gene editing and bioprocessing improvements underscore the market's dynamic landscape, fostering innovation and competition among industry players.
The biologics market has witnessed remarkable growth, particularly in the treatment of various diseases such as psoriasis, thanks to the advent of biopharmaceuticals. Biologics for psoriasis represent a significant breakthrough in dermatological treatment, offering targeted therapies that address the underlying causes of the condition. These biopharmaceuticals, derived from living organisms, revolutionize the management of psoriasis by modulating the immune system and reducing inflammation, providing relief to patients where conventional treatments fall short.
The market for biologics for psoriasis is fueled by increasing awareness among patients and healthcare providers about the effectiveness and safety of these therapies. Moreover, ongoing research and development efforts continue to introduce innovative biopharmaceuticals with enhanced efficacy and fewer side effects, further propelling market growth.
Biopharmaceutical companies are at the forefront of this dynamic market, investing heavily in research to develop novel biologics tailored to treat psoriasis and other autoimmune diseases. These companies leverage advanced biotechnological techniques to produce biologics that precisely target disease pathways, offering patients improved outcomes and quality of life.
Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global biologics market growth report based on type, application, and source.
By type, the global biologics market is segmented into gene therapy, proteins blood products, vaccines, and others. Of these, the vaccines segment will lead the market over the forecast period.
By application, the global biologics market is segmented into diabetes, cancer, anaemia, and others. Of these, the cancer segment will dominate the market over the forecast period.
By source, the biologics market growth is segmented into microorganisms, animals, humans, and others.
Regional Analysis
Based on the region, the global biologics market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Middle East & Africa. Among these, North America will dominate the market over the forecast period. Increasing cancer and diabetic population, government support for R&D, increasing healthcare expenditure, systematic drug review process, and rising technological advances in healthcare are adding to the global biologics market growth in the region. Germany and the UK have a maximum share in the region.
The global biologics market in Europe is predicted to have the second-largest share over the forecast period. Presence of healthcare infrastructure that is technically advanced, regulatory harmonization, high patient awareness, rising funding to develop biologics accessible through private-public partnerships, and accessibility of best quality research infrastructure are adding to the biologics market growth in the region. Additional factors adding market growth include innovative strategies by drug makers to limit the entry of new players, and rising disease incidences.
The global biologics market in the APAC region is predicted to grow at a fast pace over the forecast period. Rapidly growing economies such as China & India, rapid development of the healthcare sector, increasing awareness about the success of biologics to treat chronic diseases, less strict regulatory environment for the clinical trial of drugs, and increase in outsourcing of biologics contract manufacturing in emerging countries is adding to the biologics market growth in the region.
Key Players
The global biologics companies include Biogen Inc. (US), Bristol-Myers Squibb (US), Eli Lilly & Company (US), Johnson & Johnson Inc. (US), Addgene (US), Celltrion (South Korea), Samsung Biologics (South Korea), Merck KGaA (Germany), Genzyme (US), Bayer AG (Germany), AstraZeneca (UK), Novartis AG (Switzerland), Lundbeck (Denmark), GSK Biologicals (UK), Amgen (US), Roche Diagnostics (Switzerland), Pfizer Inc. (US), Terumo Corporation (Japan), Dickinson & Company (Germany), Becton, Smiths Medicals (UK), Retractable Technologies Inc. (US), Sanofi (France), and Unilife Corporation (US).
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