The global biologics market reached a value of US$ 294 billion in 2021. Looking forward, the market is projected to reach US$ 501.9 billion by 2027, exhibiting a CAGR of 9.25% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Biologics, also known as biological drugs, are disease-modifying antirheumatic drugs (DMARDs) made from living organisms or consist of components of living organisms. They include a wide variety of products, such as vaccines, blood, blood components, cells, genes, tissues, allergens, and recombinant proteins, derived from humans, animals, birds, insects, plants, and microorganisms.
These products control the production of vital proteins, modify human hormones and cells, while producing substances to activate and suppress the immune system. They also change the manner of operation of natural biologic intracellular and cellular actions. In recent years, biologics have gained immense traction as they are essentially utilized to treat various diseases and conditions, including Crohn's disease, ulcerative colitis, rheumatoid arthritis and other autoimmune diseases.
Biologics Market Trends
The global biologics market is primarily driven by the rising incidences and diagnosis of chronic diseases that have necessitated the availability of advanced diagnostics and treatment drugs. Biologics are genetically engineered to target a specific part of the immune system that fuels inflammation. Governments of different countries are also taking initiatives to promote the healthcare sector and ensure the availability of biologics with the onset of coronavirus disease (COVID-19).
Furthermore, scientists and researchers are extensively investigating species and expression systems to enhance the productivity of biological products. Moreover, various pharmaceutical companies are undertaking research and development (R&D) activities to improve the efficacy of oral products for rheumatoid arthritis and Crohn's diseases.
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being AbbVie Inc., Amgen Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer Inc. and Sanofi.
Key Questions Answered in This Report
How has the global biologics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global biologics market?
What are the key regional markets?
What is the breakup of the market based on the source?
What is the breakup of the market based on the product?
What is the breakup of the market based on the disease?
What is the breakup of the market based on the manufacturing?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global biologics market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Biologics Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast
