According to the current analysis
of Reports and Data, the global Biologics
market was valued at USD 251.5 million in 2018 and is expected to
reach USD 625.6 million by the year 2026, at a CAGR of 11.9%. The study covers
Biologics, a drug that contains living organisms or their specific components
or by-products. Biologic medicines are usually injected into the patient’s body
because of its large molecular size (200-1000x) and fragile molecular
structure. Parts of organisms like their cells, tissues, recombinant proteins,
genes, allergens, blood or blood components, and vaccines are used in biologic
drugs. Biologics are used for the treatment of various diseases and conditions
like anemia, cancer, and other autoimmune diseases. Biologics are changing the
ways doctors treat common conditions that have plagued individuals for years. .
Biologics have various potential advantages as they can, theoretically, be
customized to hit specific ‘gene targets’ in the human body
AbbVie’s Humira (adalimumab) – a
drug used to treat autoimmune disorders such as rheumatoid arthritis. Biologics
products including those which are manufactured by biotechnology are heat
sensitive and susceptible to contamination. Hence, it is essential to maintain
aseptic condition from initial manufacturing process till the end of the
production, Biologic drugs have witnessed a significant success rate, notably
in cancer and autoimmune diseases. The new developments in the field of
immunotherapies, gene and cell therapies, and antibody-drug conjugates, will
contribute to the expected growth of biologics in the next upcoming future.
Biologics are mostly to continue their growth trend with more innovative
technologies and therapies coming to the market. In some therapeutic areas
treatment with biologic is quite significant, especially in high-income
countries. The momentum of new biologic launches is likely to continue for some
time into the future. Rise in prevalence of target chronic diseases such as
cancer, increase in unhealthy lifestyle habits, technological advancements,
company agreements like mergers and acquisitions by key players, government
support and initiative for development and implementation of biologics,
collaboration of global leading companies, more companies earning market
approval, product launches, the development of biologics with higher efficiency
and scope, and a favorable research funding scenario are key factors
contributing to high CAGR of Biologics during forecast period.
Biologics provide safer
solutions in many areas of unmet medical demands, and their growth is expected
to continue. Moreover, Biological products represent the cutting edge of
technological innovation of technology and bio medical research and may offer
the effective ways to treat diverse medical illness and ailments that presently
have no other alternative treatment. Nevertheless, their high cost, patent
cliff, a strict regulatory environment, and the emergence of alternative
solutions, limited scope of treatment pose challenges. However, stringent
government regulations and associated side effects such as gastrointestinal
complications, change in blood pressure, chest pain, breathing problems, etc.
is expected to hamper the market and found to be the major hindrance for market
growth during 2019-2026.
To identify the key trends in
the industry, click on the link below:
Further key findings from
the report suggest
- Biologics market is growing at a CAGR of 13.0% in
Asia Pacific followed by North America and Europe, with 11.8% and 11.6%
CAGR, respectively. Rise in prevalence of cancer and other target diseases
across the globe is the key factor to accelerate the market growth during
forecast period across all regions.
- As of 2018, Monoclonal Antibodies segment dominates
the market holding 39.0% of the global market since it is the primary
medicine used for the treatment of cancer.
- On the basis of product type, Gene biologics are
growing predominantly with a CAGR of 14.3% followed by vaccines and
cellular biologics.
- On the basis of application, Cancer is expected to be
the fastest growing market segment during forecast period 2019-2026 with a
CAGR of 12.4%.The key factor responsible for the growth of the segment is
predominant rise in cancer and geriatric population worldwide.
- Cancer application segment holds a market share of
42.2% followed by autoimmune diseases and infectious diseases holding
35.9% and 14.6% respectively.
- Asia Pacific is expected to account for the 21.4% of
the global Biologics market due to the large prevalence of target diseases
in countries like India and China.
- Stringent government regulations and associated side
effects like gastrointestinal complications, change in blood pressure,
chest pain, breathing problems etc. are the key challenges faced by the
Biologics market players.
- Key participants include Merck & Co. Inc.,
AbbVie, Inc., AstraZeneca Plc., Amgen, Inc., Celgene Corporation,
Bristol-Myers Squibb Co., Eli Lilly and Company, Janssen Pharmaceuticals,
Inc., GlaxoSmithKline Plc., Novartis AG, Pfizer, Inc., and Novo Nordisk
A/S
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