A recent report published by
Infinium Global Research on biological drugs market provides in-depth analysis
of segments and sub-segments in the global as well as regional biological drugs
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional biological drugs market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of global biological drugs market. According
to the report, the global biological drugs market is projected to grow at a
CAGR of 10.5% over the forecast period of 2019-2025.
Market Insight
Biological drugs account for
nearly 20% of overall drugs sold across the world and its share is increasing
progressively. Biologics are manufactured by utilizing recombinant DNA
technology within in animal cells, human cells, microorganisms or plant cells.
Biological drugs are available as monoclonal antibodies, injections,
recombinant therapeutic proteins, injections, oral solutions, interleukins, and
vaccines. Allergenics, blood components, gene therapies, insulin, plasma
therapies, somatic cells, and tissues are also forms of biological drugs.
Biological drugs are effective for the treatment of illnesses such as AIDS,
asthma, Alzheimer’s, anti-inflammatory diseases, cancers, Crohn’s disease,
multiple sclerosis, psoriasis, psoriatic arthritis, rheumatoid arthritis and
various cancers.
The rapidly increasing geriatric
population over the globe is driving the growth of the biological drugs market,
as there is an increasing requirement for effective medicines for various
illnesses affecting old age people. In addition, an increasing number of
patients with cancer, diabetes and other major chronic illnesses are expected
to drive the growth of the biological drugs market during the forecast period.
The investments in research and development of biological drugs and innovation
in manufacturing of biologics are anticipated to yield more products during the
forecast period. The investments in research and development of biological
drugs and innovation in the manufacturing of biologics are anticipated to yield
more products during the forecast period. Moreover, promotional activities by
various health organizations and policies by governments to make biological
drugs affordable for the treatment of chronic illnesses are expected to enhance
the growth of the global biological drugs market. The complexity of
manufacturing of biological drugs is a major challenge for the global
biological manufacturers, especially in the developing and least developed
countries, where it is difficult to maintain both the controlled environment
for manufacturing and quality control. The need for effective medicines for
illnesses like cancer, autoimmune diseases, and other chronic illnesses with
minimal side effects, when compared to chemical drugs, is expected to provide
opportunities for major players in the biological drugs market during the
forecast period.
North America dominates the
global biological drugs market with a major share. Increasing technological
advancements, favorable regulatory policies and increasing awareness about the
biological due to the intervention of governments and other agencies are the
major factors that drive the growth of the North American biological drugs
market. Moreover, the increasing demand for biological drugs for the treatment
of chronic illnesses such as cancer and diabetes are anticipated to drive the
growth of the North American biological market during the forecast period. The
presence of a large geriatric population in countries such as Germany and The
United Kingdom drive the growth of European biological drugs market.
Furthermore, the presence of top-quality research and development
infrastructure due to the partnerships between research institutes and
manufacturing companies and increased funding from private-public initiatives
drives the growth of the European market. Moreover, the low manufacturing cost
and the availability of low-cost labor is expected to enhance the growth of
Asian biological drugs market, as it could attract more established players in
the global market to Asia.
Segment Covered
The report on global biological
drugs market covers segments such as product type. On the basis of product
type, the sub-markets include therapeutic protein, monoclonal antibody, and
vaccines.
Companies Profiled:
The report provides profiles of
the companies in the market such as AbbVie Inc., Amgen Inc., Bristol-Myers
Squibb, Biogen Inc., F. Hoffmann-La Roche AG, Johnson & Johnson, Eli Lilly
and Company, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Other Companies.
Report Highlights:
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 biological drugs market. Moreover, the study highlights current
market trends and provides forecast from 2019-2025. 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.