Biologics Market Size to Worth USD 1,044.2 Million By 2031

According to Coherent Market Insights, the global Biologics Market size is calculated at USD 522.1 Million in 2024 and is projected to surpass USD 1,044.2 Million by 2031 with a remarkable CAGR of 10.4% from 2024 to 2031.

The biologics market experiences significant growth as the demand for biosimilars continues to rise. The production of biosimilars provides a cost structure that complements conventional biologics and reduces patient barriers to biologic therapies. Since the market is already dominated by the biologics, the expenses for research and development are reasonably lower in comparison to innovator biologics. The demand for bestselling biologics will drive market growth and increase competition from biosimilars, leading to more affordable treatment options and greater accessibility for patients.

Increasing incidence of chronic diseases like cancer, diabetes, and autoimmune disorders worldwide also acts as a driver of the biologics market growth. These conditions require long-term treatment and hence increase the demand for effective biologics.

Request for a sample of this research report @ https://www.coherentmarketinsights.com/insight/request-sample/2663

Market Trends:

R&D Focus: Companies like Amgen and Roche are investing millions of dollars in research and development of new biologic treatments for chronic illnesses

Specific Therapies: Merck’s Keytruda (pembrolizumab) is one of the effective targeted therapies that is used in treating some types of cancers such as Classical Hodgkin lymphoma, Endometrial carcinoma and Triple-negative breast cancer

Development of Biosimilars: The introduction of Zarxio, which is the first biosimilar that is approved in the U.S., exemplifies a significant trend in the biologics market by providing a lower-cost alternative to original biologics.

Personalized Treatment Approaches: There is a growing emphasis on patient specific medications with Novartis’ Kymriah (tisagenlecleucel) which is a CAR T-cell therapy for individual patients.

Mergers and Acquisitions: Bristol-Myers Squibb spent US$ 74 billion on purchasing Celgene in order to enhance its biologics sector and build its technological base.

Biologics Market Report Coverage

Use of Gene Science: To develop more advanced biologic treatment, Editas Medicine has used the CRISPR technology to perform gene editing which is more advanced than previous methods.

Utilizing Third Parties for Manufacturing: Large companies such as Pfizer are cooperating with other companies like Lonza, to outsource their biologics manufacturing which increases the speed of production.

Regulatory support for innovation: The breakthrough therapy designation granted by the U.S. FDA facilitates the approval of biologics with great potential that include Atezolizumab (Tecentriq).

Market Opportunity: 

Monoclonal antibodies constitute more than 35% of the biologics market during the forecast period and is projected to remain the largest product segment in the forecast period. Monoclonal antibodies are a form of targeted therapy which is directed against a certain antigen or receptor. They progress because of increased need of treatment for both cancers and autoimmune disorders. Avastin, Rituxan and Humira are amongst the widely used monoclonal antibodies which are expected to gain further market share as the need for effective treatment options increases.

The vaccines segment is likely to witness the fastest growth compared to other types of medication with an estimated average growth rate of over 11% during the forecast period. Greater education about preventive health care, as well as the introduction of newer vaccines addressing different infectious diseases, are the key growth drivers. Some of the vaccines that will contribute to the segment growth includes seasonal flu, pneumococcal, and human papillomavirus (HPV) vaccines.

Immediate Delivery is Available | Get Full Report Access@ https://www.coherentmarketinsights.com/insight/buy-now/2663

Key Market Takeaways:

The biologics market is anticipated to witness a CAGR of 10.49% during the forecast period 2024-2031, owing to the rising prevalence of chronic and lifestyle-related diseases and increasing demand for protein-based therapeutics.

On the basis of product, the monoclonal antibodies segment is expected to hold a dominant position, accounting for over one-third of the global market share. This is due to high demand for antibody drugs to treat cancers and autoimmune diseases.

On the basis of application, the cancer segment currently dominates the market. However, the infectious diseases segment is projected to grow at the highest CAGR during the forecast period due to rising cases of infectious diseases and introduction of novel biologics to treat infectious indications.

Regionally, North America is expected to hold the dominant position over the forecast period owing to increasing healthcare spending and growing adoption of biologics in the region.

Key Players Insights

- Novartis AG

- AstraZeneca PLC

- Bayer AG

- Sanofi SA

- Pfizer Inc.

- Merck & Co.

- Johnson & Johnson

- GlaxoSmithKline PLC

- Amgen Inc.

- AbbVie Inc.

- F. Hoffmann-La Roche AG

- Eli Lilly and Company

- AGC Biologics

Recent Developments:

In January 2024, AGC Biologics announced the expansion of its manufacturing capabilities with an investment of US$ 50 million, aimed at increasing production capacity for biologics

In February 2024, Johnson & Johnson reported successful outcomes from trials of a new monoclonal antibody aimed at treating chronic inflammatory conditions

In January 2024, Merck & Co. revealed advancements in its pipeline of biologic therapies focused on oncology, emphasizing personalized medicine approaches

In December 2023, AbbVie Inc. announced the initiation of clinical trials for a novel biologic targeting autoimmune diseases, aiming to provide more effective treatment options

Immediate Delivery is Available | Get Full Report Access@ https://www.coherentmarketinsights.com/insight/buy-now/2663

Transform your Strategy with Exclusive Trending Reports:

Global immunology market is estimated to be valued at USD 96.51 Bn in 2024 and is expected to reach USD 216.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.

The global sciatica market is estimated to be valued at US$ 6,302.9 million in 2021 and is expected to increase to US$ 8,776.2 Mn by 2028, witnessing a CAGR of 4.8% over the forecast period (2021-2028).

The global immunomodulators market is estimated to be valued at US$ 91850.0 Million in 2021 and is expected to reach US$ 156378.2 million by 2028, at a CAGR of 7.9% during the forecast period (2021–2028).

Global opioid use disorder market is estimated to be valued at US$ 3.24 Bn  in 2023, and is expected to exhibit a CAGR of 8.7% during the forecast period (2023-2030).

About Us:
Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.

Contact Us:
Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone:
US: + 12524771362
UK: +442039578553
AUS: +61-2-4786-0457
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter