A recent report published by Infinium Global Research on the biologics market provides in-depth analysis of segments and sub-segments in the
global as well as regional biologics market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
biologics market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
biologics market. According to the report, the global biologics market is
projected to grow at a CAGR of 10.7% over the forecast period of 2020-2026.
Biologics drugs are made from living organisms. Biologics
are relatively large and complex molecules compared with conventional chemical
drugs. They are composed of proteins, carbohydrates, nucleic acids, or
combinations of these substances. They currently target diseases with very
limited or no available treatment options such as several types of cancers,
autoimmune diseases, and other non-communicable diseases. Biologics have several
potential advantages as they can be tailored to hit specific targets in the
human body. Presently, more than 300 biologic medicines have been brought to the market.
The growing prevalence of cancer and several autoimmune diseases
is a key driver facilitating the growth of the biologics market. Moreover, a rise
in incidence is also expected due to an increase in exposure to risk factors.
This is expected to create potential demand for these drugs over the forecast
period. Furthermore, increasing investments by the pharmaceutical giants in the
biologics segment is also expected to fuel the expansion of the market. Several
biologic drugs are in development and are expected to be launched in the coming
years which will significantly aid the growth of the market. However, the high cost
of the drugs remains a major hindrance factor for its large scale adoption.
Nonetheless, increasing production is projected to lower the cost of these
drugs in the long term. Moreover, a surging number of biologic APIs and their
growing penetration into multiple therapy areas such as asthma, dyslipidemia,
and allergy will create multiple growth opportunities for the biologics
market. The current concerns over the
spread of coronavirus are expected to have a moderate impact on the growth of
the biologics market as the sale of companies whose products rely heavily on
elective and non-essential procedures are expected to be hurt censoriously.
Additionally, these biologics are considered immunosuppressing because they
work on different immune system pathways to curtail the inflammation that
occurs in these chronic conditions, which can make patients more vulnerable to
different kinds of infection. Thereby, lowering the administration of such
drugs. However, the market will accelerate quickly over the end of 2020.
Among the regions, North America holds a major share in the
global biological drugs market. Growing technological advancements, favorable
regulatory policies and increasing awareness about the biologics are the major
factors that drive the growth of the North American biologics market. Moreover,
the increasing prevalence of chronic illnesses such as cancer and diabetes are
anticipated to boost the adoption of biologics in North America. Europe is
anticipated to hold the second largest share owing to the presence of a large
geriatric population in countries such as Germany and The United Kingdom.
The report on the global biologics market covers segments such
as product, and therapy areas. On the basis of product, the sub-markets include
monoclonal antibodies, vaccines, recombinant proteins, and others (antisense,
RNAi & molecular therapy products). On the basis of therapy areas, the
sub-markets include autoimmune, antidiabetics, oncologics, and others.
The report provides profiles of the companies in the market
such as F Hoffman La Roche, Eli Lilly & Company, Samsung Biologics,
Celltrion Inc., Amgen Inc., Abbvie Inc., Sanofi S.A., Pfizer Inc., Novo Nordisk
A/S, and Johnson & Johnson Services Inc.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of biologics
market. Moreover, the study highlights current market trends and provides
forecast from 2020-2026. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.