According to our new research study on "Biologics Market Forecast to 2031 - Global Analysis - by Product, Application, Source, Manufacturing, and Geography," the market is anticipated to grow from US$ 469.2 billion in 2023 and is projected to reach US$ 1.79 trillion by 2031; it is expected to register a CAGR of 18.2% during 2023-2031. Market growth is attributed to increasing cases of chronic diseases and subsequent approvals for several disease-modifying therapies. Evolution of biotechnology industry in developing regions are likely to offer opportunities for the market growth. However, the stringent regulations and high drug development costs hinder the growth of the market.
Biologics are among the most promising avenues in the pharmaceutical industry, offering a unique approach to treating various diseases and medical conditions. The biologics market is constantly growing because pharma and biotechnology companies enormously invest in improving their production facilities. The increasing number of cases and diagnoses of chronic diseases requires the availability of sophisticated diagnostic and treatment drugs, which has boosted the global biologics market. Furthermore, rising demand, higher acceptance of innovative therapies, and increasing clinical trials are expected to drive market growth. However, approving biosimilars is one of the main aspects limiting the biologics market expansion.
North America accounted for a major share of the global biologics market in 2023. The North America biologics market is segmented into the US, Canada, and Mexico. The key factors driving the market growth in this region is the high prevalence of chronic diseases, numerous leading biopharmaceutical companies, favorable reimbursement policies, and significant investments in research and development. According to an article published in JAMA Network, biologics accounted for 37% of total drug spending in the US. The increasing share of prescriptions for biologics and growing investments in developing targeted drugs are contributing to the market growth. Additionally, approvals for several novel biological drugs such as antisense, gene therapy, and RNAi therapeutics are expected to drive market growth further.
Continuous advancements in the fields of biotechnology, genetics, and cell biology have contributed to identifying the potential of therapeutics for targeted therapies. As the biotechnology industry expands scientists' toolboxes, the combination of basic research, translational studies, and clinical trials will continue to develop, investigate, and test additional compounds, techniques, and therapeutic pathways. Biotechnology is a strategic sector for China. The Made in China 2025 initiative aims to produce high-tech products, including innovative medicines. The plan introduced targets for Chinese pharmaceutical companies to spur biotechnology innovation and increase exports. Furthermore, these Asian countries are more focused on using genomics, proteomics, and biomarker advancements for diagnostic and therapeutic applications. Therefore, the ongoing evolution of the biotechnology industry in developing regions is expected to create opportunities for the biologics market in the coming years.
The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Global Burden of Disease Study are among the primary and secondary sources referred to while preparing the biologics market report.
Biologics are among the most promising avenues in the pharmaceutical industry, offering a unique approach to treating various diseases and medical conditions. The biologics market is constantly growing because pharma and biotechnology companies enormously invest in improving their production facilities. The increasing number of cases and diagnoses of chronic diseases requires the availability of sophisticated diagnostic and treatment drugs, which has boosted the global biologics market. Furthermore, rising demand, higher acceptance of innovative therapies, and increasing clinical trials are expected to drive market growth. However, approving biosimilars is one of the main aspects limiting the biologics market expansion.
North America accounted for a major share of the global biologics market in 2023. The North America biologics market is segmented into the US, Canada, and Mexico. The key factors driving the market growth in this region is the high prevalence of chronic diseases, numerous leading biopharmaceutical companies, favorable reimbursement policies, and significant investments in research and development. According to an article published in JAMA Network, biologics accounted for 37% of total drug spending in the US. The increasing share of prescriptions for biologics and growing investments in developing targeted drugs are contributing to the market growth. Additionally, approvals for several novel biological drugs such as antisense, gene therapy, and RNAi therapeutics are expected to drive market growth further.
Evolution of Biotechnology Industry in Developing Regions to Provide Market Opportunities in Future
In modern biotechnology, antibodies are required in numerous processes, from basic research to innovative medical evaluations. The development of therapeutic antibodies has opened new avenues in treating various diseases, demonstrating the transformative ability of these particles. Antibodies are also crucial in antibody-based diagnostics as they provide accurate and reliable approaches to disease identification. Growing support from governments, rising public-private partnerships, continuously changing disease profiles, and increasing funding activities are widely enhancing the performance of the biotechnology industry in regions such as Asia Pacific, South & Central America, and the Middle East & Africa. Countries such as the UAE, Saudi Arabia, Oman, Muscat, Bahrain, Taiwan, Malaysia, India, China, Singapore, and Japan are among the most advantageous destinations for the biotechnology industry.Continuous advancements in the fields of biotechnology, genetics, and cell biology have contributed to identifying the potential of therapeutics for targeted therapies. As the biotechnology industry expands scientists' toolboxes, the combination of basic research, translational studies, and clinical trials will continue to develop, investigate, and test additional compounds, techniques, and therapeutic pathways. Biotechnology is a strategic sector for China. The Made in China 2025 initiative aims to produce high-tech products, including innovative medicines. The plan introduced targets for Chinese pharmaceutical companies to spur biotechnology innovation and increase exports. Furthermore, these Asian countries are more focused on using genomics, proteomics, and biomarker advancements for diagnostic and therapeutic applications. Therefore, the ongoing evolution of the biotechnology industry in developing regions is expected to create opportunities for the biologics market in the coming years.
Product -Based Insights
Based on product, the biologics market is divided into monoclonal antibodies, vaccines, recombinant hormones/proteins, cell and gene therapy, and others. The monoclonal antibodies segment held the largest market share in 2023 and is likely to register the highest CAGR during 2023-2031.Application -Based Insights
The market, based on application, is divided into cancer, infectious diseases, autoimmune diseases, and others. The cancer segment held the largest share of the market in 2023 and is anticipated to register the highest CAGR during 2023-2031.Source -Based Insights
Based on source, the market is segmented into mammalian and microbial. The microbial segment held a larger market share in 2023. The mammalian is estimated to record a faster CAGR during 2023-2031. Mammalian expression systems are mainly used to develop recombinant proteins and vaccines based on viral vectors. The most frequently used mammalian cell lines are CHO and HEK. Products such as Perjeta (pertuzumab), Adcetris (brentuximab vedotin), Kadycla (trastuzumab emtansine), Shingrix (zoster vaccine), and Aimovig (erenumab) are among the products manufactured in mammalian expression systems.Biologics Market: Competitive Landscape and Key Developments
AbbVie Inc.; Pfizer Inc.; Samsung Biologics; ADMA Biologics, Inc.; WuXi Biologics; Catalent, Inc; AGC Biologics; Crescendo Biologics Limited; Zumutor Biologics INC; Theriva Biologics; AstraZeneca; Amgen Inc.; Avecia Biologics; and Quality Assistance s.a. are among the key companies operating in the biologics market.The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Global Burden of Disease Study are among the primary and secondary sources referred to while preparing the biologics market report.
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Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Biologics Market Landscape
5. Biologics Market - Key Market Dynamics
6. Biologics Market - Global Market Analysis
7. Biologics Market Analysis - by Product
8. Biologics Market Analysis - by Application
9. Biologics Market Analysis - by Source
10. Biologics Market Analysis - by Manufacturing
11. Biologics Market - Geographical Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- US Solar Roofing Market
- Tesla Inc
- Solarstone OÜ
- CertainTeed LLC
- GAF Energy
- SunTegra Solar
- Sunpower Corporation
- ECO Roof and Solar
- Western Roofing Systems
- American Solar & Roofing
- JinkoSolar Holding Co Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | August 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value in 2023 | 469.2 Billion |
| Forecasted Market Value by 2031 | 1793.9 Billion |
| Compound Annual Growth Rate | 18.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
