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A recent report published by Infinium Global Research on next generation biological drugs market provides an in-depth analysis of segments and sub-segments in the global as well as regional next generation biological drugs market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional next generation 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 the global next generation biological drugs market. According to the report, the global next generation biological drugs market is projected to grow at a CAGR of 20% over the forecast period of 2021-2027.
Next generation biological drugs market was valued at USD 5 billion in 2021 and expected to reach USD 15 billion in 2027, with a CAGR of 20% during the forecast period. The focus of drug discovery and development has gradually shifted in the last three and a half decades away from small, well-defined chemical molecules to large, complex molecular entities. In combating cancer, diabetes, and autoimmune diseases, Biotherapeutics are now playing an increasingly prominent role. The recent introduction of cellular and gene therapy products has opened the gate for biologics to tap into the medical field of genetic disorders, regenerative therapy, and personalized.
The high prevalence of cancer worldwide where next-generation biologics is the dominant treatment is driving the growth of this market. Cancer is among the leading causes of death worldwide. In 2020, there were 19.3 million new cases and 10.0 million cancer-related deaths in the world. The number of new cancer cases is expected to rise to 29.5 million per year by the year 2040 and the number of cancer-related deaths to 16.4 million, according to the American Society of Clinical Oncology. Monoclonal antibodies (mAbs) have become a major class of therapeutic agents over the world and providing effective options for treating different human diseases. mAb-based regimens have brought clinical benefits, including improvements in overall survival, to patients with a variety of cancers. Furthermore, an ongoing clinical trial is being conducted by many pharmaceuticals companies is also propelling the market growth. However, the high cost involved in research and development for developing next-generation biologics is restricting the growth of the market. Moreover, the strategic alliance between the companies to make available next-generation biologics worldwide is anticipated to provide opportunities to the market players. The global next-generation biologics market is positively affected by the COVID 19 pandemic. COVID-19 has led to increased production and manufacturing capacities in the pharmaceuticals market owing to the need for tests and trials of drugs that can cure the virus. High government funding for the medical and pharmaceutical industry in numerous countries is boosting the next-generation biologics market’s growth during the coronavirus pandemic. Besides increased funding, governing authorities have also relaxed besides increased funding to support the production of certain medicines.
Among the geographies, North America holds the largest market share of the next-generation biologics market. The U.S. currently dominates the market for next-generation biologics and will witness robust growth during the forecast period. This is attributable to the presence of key players, highly advanced infrastructure to support next-generation biologics, and technological advancements in the healthcare sector in the North America region. Asia-Pacific is the fastest-growing region in the next-generation biologics market. The increasing advancements in technology, increasing investments by several foreign players and the growing healthcare sector in this region contributes to the growth of the next-generation biologics market.
The report on the global next generation biological drugs market covers segments such as therapies, and end users. On the basis of therapies, the sub-markets include regenerative medicine, recombinant coagulation factors, antibodies, and insulin products. On the basis of end users, the sub-markets include hospitals, specialty clinics, biotechnology companies, and others.
The report provides profiles of the companies in the market such as F. Hoffmann-La Roche Ltd, Kyowa Kirin Co., Ltd, Takeda Pharmaceutical Company Limited, AstraZeneca, Seattle Genetics, Inc, ImmunoGen, Inc, Zumutor Biologics INC, Pfizer Inc, Xencor, and Bayer AG.
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 next generation biological drugs market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. 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.
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