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Biologics Market is expected to demonstrate a CAGR of 9.1%by 2030

The Global Biologics Market size is estimated to be USD 305.63 billion in 2019 and is predicted to reach USD 796.66 billion by 2030 with a CAGR of 9.1% from 2020-2030. Biologics are class of proteins that are extracted or synthesised from human genes or biological sources such as living organisms, proteins, nucleic acids, and so on. It includes a wide range of products such as gene therapy products, somatic cells, tissues, recombinant therapeutic proteins, and blood components. These products are further used for development of several medicinal products and medical devices that are utilized for human consumption.

 

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Historically, the pharmaceutical and biotechnology industry focused on small-molecule as the major therapeutic alternative. However, since past few years this focus has shifted from small-molecule drugs to advanced large molecule drugs, also known as biologics. Recent intensive researches in novel therapies and combination therapies have established the efficacy of biologics for treating a wide range of chronic diseases such as cancer, rheumatoid arthritis, macular degeneration, and haematological malignancies. Additionally, technological breakthroughs involving novel targets, modifying agents and production systems are creating new avenues for market growth.

 

Market Dynamics and Trends:

 

Pharmaceutical and biotechnology companies are developing several biopharmaceutical products in order to accelerate market growth. Also, owing to the fact that small molecule drug productivity is declining, biologics are expected to register lucrative growth in the coming years. Furthermore, technological advancements in multiple related fields have resulted in the creation of large libraries of reasonable drug targets, as well as significant improvement in understanding of various chronic diseases. These advancements fuel the demand for biotherapeutics. Moreover, developments in immunotherapies, gene and cell therapies, and antibody drug conjugates, will also contribute to the growth of biologics market. However, factors such as pharmacokinetics challenges associated with biologics, high cost for accessing biologics, and stringent regulatory policies are expected to restrain the growth of this market.

 

Biologics provide safe solutions in many areas of unmet medical need and their growth is expected to continue. Increasing need for biologics has resulted in extraordinary growth in number of biopharmaceutical companies. The companies are also changing their way of working and focusing on strategic partnerships to develop new analytical methods, and are investing in more progressive manufacturing and operational facilities in order to strengthen their position in the market. For instance, companies like Sanofi and Lonza have agreed to invest €270 million for a new large-scale monoclonal antibodies production run, expected by 2020. Such developments enables the companies to thrive in the global biologics market.

 

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Competitive Landscape:

 

Comprehensive competitive analysis and profiles of major market players such as Astra Zeneca, Bayer AG, Becton Dickinson & company, GSK biologics, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer, Regeneron Pharmaceuticals, and Roche is also provided in this report.