Global Biologics Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Biologics are medications made from organic materials that can be used to treat a wide range of illnesses, and they are frequently used to treat immune-related illnesses such Crohn's disease, psoriasis, ankylosing spondylitis, and rheumatoid arthritis. The interesting aspect is that biologics are separated from various natural sources, whether they be carbohydrates, proteins, nucleic acids, or a complex mixture of these materials.

Sizing and Forecast
The biologics market size has grown strongly in recent years. It will grow from $416.65 billion in 2023 to $454.4 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%.  The  growth in the historic period can be attributed to aging population, government initiatives, ability to command high prices, and increased need for immunology.

The biologics market size is expected to see rapid growth in the next few years. It will grow to $666.31 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.  The growth in the forecast period can be attributed to increase in funding, technological advancements, increase in healthcare access, robust research and development activities for development of oral biologics, lean towards pills over injections, and increasing robust pipeline of biologics. Major trends in the forecast period include leveraging revised and less stringent regulations to develop new and improved biologics, shifting to biologic drug development to capitalize on the growing demand for these drugs, investing in r&d for the development of innovative biologics, and investing in research and development of biologics for the treatment of complex diseases.

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Segmentation & Regional Insights
The biologics market covered in this report is segmented –
1) By Type: Monoclonal Antibodies (MAbS), Therapeutic Proteins, Vaccines     
2) By Drug Classification: Branded Drugs, Generic Drugs        
3) By Route Of Administration: Oral, Other Route Of Administration      
4) By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs       
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Other Distribution Channels      

Subsegments Covered: Anti-Cancer MAbS, Immunological MAbS, Anti-Infective Monoclonal Antibodies (MAbs), Neuropharmacological MABS, Cardiovascular And Cerebrovascular MAbS, Other Monoclonal Antibodies (MAbs), Metabolic Disorders Therapeutic Proteins, Cancer Therapeutic Proteins, Cardiovascular Therapeutic Proteins, Immunological Therapeutic Proteins, Other Therapeutic Proteins, Anti-Infective Vaccines, Autoimmunity Vaccines, Other Vaccines     

North America was the largest region in the biologics market in 2023. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the biologics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The demand for personalized medicine is driving significant growth in the global biologics market. Personalized medicine, also known as precision medicine, is a medical approach that tailors healthcare and medical treatment to the individual characteristics of each patient. The personalized medicine offers the ability to customize biologic treatments to a patient's specific genetic and clinical profile is transforming the healthcare landscape. For instance, according to the Personalized Medicine Coalition's report, in 2021 the personalized medicines accounted for over a third of new drug approvals in 2021, representing approximately 35% of all newly approved therapeutic molecular entities. Therefore, the increasing demand for personalized medicine is driving the growth of the biologics market going forward.

Key Industry Players
Major companies operating in the biologics market report are Merck & Co., Inc., AbbVie Inc., F. Hoffmann-La Roche AG, Johnson & Johnson, Pfizer Inc., Bristol Myers Squibb Company, Sanofi S.A., GlaxoSmithKline Plc., Eli Lilly and Company, Amgen Inc., Wockhardt, Zydus Cadilla, Asahi Glass Co. Ltd., China Biologic Products Holdings Inc., China Regenerative Medicine International, ABLbio, Adimmune, Henlius, Innovent Biologics, Bio-Thera, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, Shanghai Fosun Pharmaceuticals, Biocon, Dr.Reddy’s, Mylan, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, AGC Biologics, Tonghua Dongbao Pharmaceutical Co., China Regenerative Medicine International, Shanghai Fosun Pharmaceuticals, Bayer AG, Novartis AG, BiosanaPharma, WuXi, Teva UK Limited, AstraZeneca, Abbott Laboratories, Vectura Group, Fujifilm, Lonza, Seqens, Piramal Pharma Solutions, Corden Pharma, Procos SpA and BSP Pharmaceuticals., Microgen, Geropharm, Valenta, NovaMedica, SynBi, Rani Therapeutics, Emisphere Technologies Inc., Enteris BioPharma, Allena Pharmaceuticals, Biogen Inc., Emisphere Technologies Inc., Biogen Inc., Novartis, Apotex, Gilead Sciences, Bayer, Abbott Laboratories

The biologics market report table of contents includes:
1. Executive Summary

2. Biologics Market Characteristics

3. Biologics Product/Service Analysis -Product/Service Examples

4. Biologics Market Trends And Strategies

5. Biologics Market - Macro Economic Scenario

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68. Global Biologics Market Competitive Benchmarking

69. Global Biologics Market Competitive Dashboard

70. Key Mergers And Acquisitions In The Biologics Market

71. Biologics Market Future Outlook and Potential Analysis

72. Appendix

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