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Meeting the Needs of a Growing Population: The Evolving Global Biologics Market

Author : Bhushan S | Published On : 28 Mar 2024

The global biologics market is projected to witness significant growth, reaching a staggering US$817.48 billion by 2032. This substantial increase reflects a Compound Annual Growth Rate (CAGR) of 8.5%, building upon a market valuation of approximately US$335.43 billion in 2021.

Biologics represent a revolutionary class of drugs derived from living organisms or their biological processes. These complex medications, including therapeutic proteins, vaccines, and gene therapies, offer groundbreaking treatment options for various chronic and debilitating diseases.

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Market Growth Driven by Multiple Factors:

Several key trends are propelling the biologics market forward:

  • Rising Chronic Disease Burden: The increasing prevalence of chronic diseases like cancer, autoimmune disorders, and diabetes is driving the demand for effective treatment options, fueling the biologics market.
  • Enhanced Diagnostics: Advancements in diagnostic tools lead to earlier and more accurate disease detection, enabling early intervention with biologics.
  • Government Support: Growing government initiatives focused on public health and research & development (R&D) are fostering the development and accessibility of novel biologics.
  • Technological Advancements: Continuous breakthroughs in biotechnology techniques are leading to the creation of more targeted and effective biologics.

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.

Key Segments Covered in the Biologics Industry Survey

By Product:

  • Monoclonal Antibodies

  • Recombinant Hormones/Proteins

  • Vaccines

  • Cellular Based Biologics

  • Gene-Based Biologics

  • Therapeutic Enzymes

  • Others

By Application:

  • Infectious Diseases

  • Cancer

  • Autoimmune Diseases

  • Rare Diseases

  • Others

By Drug Classification:

  • Branded Drugs

  • Generic Drugs

By Mode of Purchase:

  • Prescription Drugs

  • Over-The-Counter (OTC) Drugs

By Distribution Channel:

  • Hospital Pharmacies

  • Retail Pharmacies

  • Online Pharmacies

By Region:

  • North America

  • Latin America

  • Europe

  • East Asia

  • South Asia

  • Oceania

  • Middle East and Africa