The global biologics market was valued at around US$ 335.43 Billion at the end of 2021. The market is projected to register an 8.5% CAGR and top a valuation of US$ 817.48 Billion by 2032.
Biologic drugs are produced by genetic engineering and are composed of proteins taken from human genes. Biologic medications are made up of items like blood and blood components, gene therapy, somatic cells, vaccines, allergens, tissues, and recombinant therapeutic proteins and are obtained from several natural sources, including animals, humans, or microorganisms. Disease-modifying antirheumatic medicines (DMARDs) that contain living organism components or are made from living organisms are known as biologics or biological drugs. Biologics are produced using complex methods and Advanced biotechnology techniques.
| Attributes | Details |
|---|---|
| Biologics Market Value in 2021 | US$ 335.4 Billion |
| Biologics Market Value in 2032 | US$ 817.4 Billion |
| Biologics Market CAGR (2022 to 2032) | 8.5% |
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A significant element influencing the biologics market's growth rate throughout the forecast period is the rising prevalence of chronic diseases. Oral product efficacy for Crohn's and rheumatoid arthritis attract more moderate patients to the biologics drug and new treatments. The market for biologics is being driven by factors such as big brand-name drugs losing their patent rights, an increase in the prevalence of chronic diseases and the diagnosis of those diseases, and an increase in the technological advancements in research and development by major key players of the pharmaceutical industry. Additionally, researchers are looking toward species and expression systems that have the potential to be more productive. Revenue growth is expected to be fuelled by the development of cell lines and reagents that increase the productivity of biological products.
The established economy of North America is anticipated to drive demand for biologics, followed by Europe and Asian regions. The overall sales of biologics in North America are anticipated to increase as the systematic drug review process and increasing technological advancement in the healthcare industry.
Furthermore, greater patient awareness, innovative strategies developed by key players, and regulatory harmonization regions are expected to experience rapid growth in the biologics control market in the European regions.
Moreover, the Middle East and Africa regions are likely to experience sustainable growth in the forecast period due to rising disease incidences in these countries.
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Some of the market players operating in the biologics market are Novartis AG, Pfizer Inc, Dickinson & Company, Smiths Medicals, Roche Diagnostics, AstraZeneca, Bayer AG, GSK Biologicals, Samsung BioLogics, Merck & Co., Inc., Eli Lilly, and Company, Hoffmann-La Roche Ltd and AstraZeneca.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 8.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Billion, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segment Covered | Product, Application, Drug Classification, Mode of Purchase, Distribution Channel, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Players | Novartis AG; Pfizer Inc; Dickinson & Company; Smith’s Medicals; Roche Diagnostics; AstraZeneca; Bayer AG; GSK Biologicals; Samsung BioLogics; Merck & Co., Inc.; Eli Lilly and Company; Hoffmann-La Roche Ltd; AstraZeneca. |
| Customization | Available Upon Request |
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The global biologics market is anticipated to register a CAGR of 8.5% during the forecast period.
The top players in the global biologics market are Novartis AG, Pfizer Inc, Dickinson & Company, Smiths Medicals, Roche Diagnostics, AstraZeneca, Bayer AG, GSK Biologicals, Samsung BioLogics, Merck & Co., Inc., Eli Lilly, and Company, Hoffmann-La Roche Ltd and AstraZeneca.
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