The latest report by IMARC Group, titled “Biologics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global biologics market size reached US$ 321.0 Billion in 2022. Biologics, also known as biopharmaceuticals or biologic drugs, are disease-modifying antirheumatic drugs (DMARDs) extracted from living organisms. They consist of genetically engineered proteins, sugars, or nucleic acids derived from humans, animals, birds, insects, plants, and microorganisms. These drugs control the production of vital proteins, modify human hormones and cells, and produce substances to activate and suppress the immune system. As a result, biologic drugs, such as vaccines, blood and blood components, cells, genes, tissues, allergens, and recombinant proteins, are widely utilized to treat numerous diseases and conditions, including Crohn’s disease, ulcerative colitis, cancer, anemia, rheumatoid arthritis, and other autoimmune diseases.
Global Biologics Market Trends:
In recent years, there has been a significant increase in the number of individuals with acute and chronic conditions, thus escalating the demand for advanced diagnostics and treatment drugs. In addition, the introduction of advanced methods for manufacturing biologics represents another major growth-inducing factor. Besides this, governments of numerous countries are taking initiatives to promote the healthcare sector and ensure the availability of biologics. This, coupled with extensive research and development (R&D) activities conducted by key players to improve the efficiency of oral drugs for rheumatoid arthritis and Crohn’s diseases, is positively influencing the market growth. Moreover, scientists and researchers are investigating species and expression systems to develop gene therapy and antisense medicines for cancer treatment, which is creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 535.5 Billion by 2028, exhibiting a CAGR of 8.1% during the forecast period (2023-2028).
- On the basis of the source, the market has been classified into microbial, mammalian, and others.
- Based on the product, the market has been segregated into monoclonal antibodies, vaccines, recombinant proteins, antisense RNAi and molecular therapy and others.
- On the basis of the disease, the market has been categorized into oncology, immunological disorders, cardiovascular disorders, hematological disorders, and others.
- Based on the manufacturing, the market has been bifurcated into outsourced and in-house.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report, with some 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 SA.
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