The global Biologics Market valued at 324.78 Billion in 2020 and is expected to reach 749.62 Billion by 2028, at a CAGR of 10.80%. The study covers Biologics, a drug that contains living organisms or their specific components or by-products. Biologic medicines are usually injected into the patient’s body because of its large molecular size (200-1000x) and fragile molecular structure. Parts of organisms like their cells, tissues, recombinant proteins, genes, allergens, blood or blood components, and vaccines are used in biologic drugs. Biologics are used for the treatment of various diseases and conditions like anemia, cancer, and other autoimmune diseases. Biologics are changing the ways doctors treat common conditions that have plagued individuals for years. Biologics have various potential advantages as they can, theoretically, be customized to hit specific ‘gene targets’ in the human body.
The global biologics market is expected to be driven by factors such as growing capital investments by major market players, along with increasing support and initiatives by governments of various countries across the globe for development and implementation of biologics, increasing prevalence of chronic diseases, and growing demand and preference for innovative drugs. Biologics are drugs processed through biological processes, and can be tailored to target specific area in the human body.
Biologics provide safer solutions in many areas of unmet medical demands, and their growth is expected to continue. Moreover, Biological products represent the cutting edge of technological innovation of technology and bio medical research and may offer the effective ways to treat diverse medical illness and ailments that presently have no other alternative treatment. Nevertheless, their high cost, patent cliff, a strict regulatory environment, and the emergence of alternative solutions, limited scope of treatment pose challenges. However, stringent government regulations and associated side effects such as gastrointestinal complications, change in blood pressure, chest pain, breathing problems, etc.
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List of Top Companies Profiled in the Artificial Intelligence (AI) in Healthcare Market :
- Merck Co. Inc.
- AbbVie, Inc.
- AstraZeneca Plc.
- Amgen, Inc.
- Bristol-Myers Squibb Co.
- Eli Lilly and Company
- Janssen Pharmaceuticals Inc.
- GlaxoSmithKline Plc.
- Novartis AG
- Pfizer Inc.
- Novo Nordisk A/S
Further key findings from the report suggest :
- Biologics market is growing at a CAGR of 13.0% in Asia Pacific followed by North America and Europe, with 11.8% and 11.6% CAGR, respectively. Rise in prevalence of cancer and other target diseases across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, Monoclonal Antibodies segment dominates the market holding 39.0% of the global market since it is the primary medicine used for the treatment of cancer.
- On the basis of product type, Gene biologics are growing predominantly with a CAGR of 14.3% followed by vaccines and cellular biologics.
- On the basis of application, Cancer is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 12.4%.The key factor responsible for the growth of the segment is predominant rise in cancer and geriatric population worldwide.
- Cancer application segment holds a market share of 42.2% followed by autoimmune diseases and infectious diseases holding 35.9% and 14.6% respectively.
- Asia Pacific is expected to account for the 21.4% of the global Biologics market due to the large prevalence of target diseases in countries like India and China.
- Stringent government regulations and associated side effects like gastrointestinal complications, change in blood pressure, chest pain, breathing problems etc. are the key challenges faced by the Biologics market players.
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For the purpose of this report, Reports and Data has segmented the Biologics market on the basis of product, application, end use and region:
Region analysis Covers:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Product type Outlook (Revenue, USD Million; 2016-2026)
- Monoclonal Antibodies
- Vaccines
- Recombinant Hormones/Proteins
- Cellular Based Biologics
- Gene Based Biologics
Application Outlook (Revenue, USD Million; 2016-2026)
- Cancer
- Infectious Diseases
- Autoimmune diseases
- Others
End use Outlook (Revenue, USD Million; 2016-2026)
- Hospitals
- Clinics
- Diagnostic Centers
- Others
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Key Points Addressed in the Report:
- A detailed analysis of the global Biologics market through assessment of key market aspects such as technology, product type, application, end-use, and overall industry dynamics.
- Qualitative and quantitative analysis of the market estimation and CAGR calculation for the forecast period.
- All-inclusive assessment of market dynamics with emphasis on drivers, restraints, opportunities, and limitations.
- Extensive profiling of key companies operating in the market including company overview, financial standing, product offerings, product portfolio, recent product and technological advancement, and business expansion plans.
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The post Biologics Market Demand and Scope | Industry Size, Growth Analysis Report 2028 appeared first on Market O Graphics.
