Biologics Market Size to Hit US$ 620.31 Bn by 2032

Prathamesh

1 month ago

The global biologics market is expected to surpass around US$ 620.31 billion by 2032 with a noteworthy CAGR of 6% from 2023 to 2032.

Key Points

North America contributed more than 44.37% in 2022.
Asia Pacific region is projected to expand at the CAGR of 11.0% during the forecast period.
By source, the microbial segment dominated the market with a share of 58.23% in 2022.
By manufacturing, the in-house segment dominated the market with 84.87% share in 2022.
By product, the monoclonal antibodies segment accounted for a share of 66.42% in 2022.

A biologic medication is a product that is made from live organisms and contains living organism components. Recombinant protein, tissues, allergens, genes, cells, blood components, blood, and vaccinations are all examples of biologics. Anemia, hemophilia, chronic migraine, hepatitis B, rheumatoid arthritis, inflammatory bowel disease, and other disorders and infections are treated with biologics. Various government efforts, higher share of biologics in the market, and rising use of biopharmaceuticals over chemically produced molecules, and many other factors are driving the biologics market expansion in the forecast period.

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Due to the productivity of tiny molecules and therapeutic research and development is dropping, biologics are projected to grow rapidly in the next few years. To maintain their market image and position, the key firms of pharmaceutical sector are focusing on the introduction and development of many biopharmaceutical medications. In addition, scientists and researchers are researching more species and types of biological medicines. The growth in revenue is expected to be fueled by the growth and development of reagents and cells that improve the overall productivity of biological medications.

There are number of constraints and problems that could hinder the growth of global biologics market during the forecast period. Biologics are sensitive to heat and light and they require an effective cold weather or temperature technique that is not consistent over the globe. This has the potential to operate as a market constraint for biologics.

Report Highlights:

Based on the source, the microbial segment dominated the global biologics market in 2020 with largest market share. The large number of biological medications is prepared with the help of microbial.
On the basis of product, the monoclonal antibodies segment holds the largest market share the global biologics market in 2020. The use of monoclonal antibodies in the management and control of disorders such as cancer can be linked to the causes of various disorders. It can also be used to target diseased cells while causing no harm to good cells of the human body.
Based on the disease, the oncology segment dominated the global biologics market in 2020 with largest market share. This is attributed to the rising prevalence of cancer around the globe, which creating demand for biological drugs on large scale.
North America is the largest segment for biologics market in terms of region. This is due to an increasing number of biology and technological businesses, the existence of major players in pharmaceutical sector, and the growing prevalence of chronic illness occurrences.
Asia-Pacific region is the fastest growing region in the biologics market. This is attributed to an increase in the number of diabetes and cancer patients, government initiatives for promotion of biologics, and rise in overall healthcare costs.

Table of Contents

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Biologics Market Scope

Report Coverage	Details
Market Size in 2023	USD 367.17 Billion
Market Size by 2032	USD 620.31 Billion
Growth Rate from 2023 to 2032	CAGR of 6%
Largest Market	North America
Fastest Growing Market	Asia Pacific
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	By Source, By Product, By Indication, By Manufacturing, By Distribution Channel, and By Geography

Future of Biologics Market

The expansion of the biologics market is likely to be boosted by an increase in the incidence of chronic diseases, the loss of patent extensions for branded pharmaceuticals, and the growing availability of advanced diagnostics. Furthermore, market growth is expected to be fueled by advancements in biologics manufacturing technology. However, the market is hampered by the difficulties of manufacturing biologic pharmaceuticals and the processes needed in maintenance, such as preventing environmental contamination and maintaining refrigeration processes, among other things. The rise in demand for improved diagnostics for therapeutic purposes, as well as the expiration of branded medicine patent extensions, gives opportunities for the worldwide biologics market to flourish.

COVID-19 Impact Analysis:

Due to prevalence of populations with high risk to the COVID-19 pandemic, regulators are more willing to allow manufacturing of micro molecule medications to continue than in the past.
The healthcare sector is implementing strong plans to reach the goal, which entails ongoing biological drugs and medicines manufacturing, hence strengthening the biologics manufacturing industry.

Key Developments in the Marketplace:

In August 2021, Moderna Inc. stated that it had completed the rolling application process to the FDA for full licensing of the Moderna COVID-19 vaccine for active vaccination to prevent COVID-19 in people aged 18 and higher.
In August 2021, Pfizer Inc. and BioNTech SE announced that they have begun a supplemental Biologics License Application with the FDA to get approval for a booster dosage of COMIRNATY to prevent COVID-19 in patients aged 16 and up.
Biocon Biologics is in talks with ADQ, the Abu Dhabi government’s wealth fund, to advance financing as India’s largest biosimilar maker grows its production to generate value for stakeholders ahead of an expected IPO.

Key Developments

Moderna Inc., announced in August 2021 that it had completed the rolling submission process for its Biologics License Application to the FDA for full licensure of the Moderna COVID-19 vaccine for active immunization to prevent COVID-19 in people aged 18 and up.
Pfizer Inc. and BioNTech SE declared in August 2021 that they had started a supplemental Biologics License Application with the FDA for the approval of a booster dose of COMIRNATY to prevent COVID-19 in people aged 16 and up.
As India’s biggest biosimilar maker increases its production to generate value to stakeholders ahead of an anticipated initial pubic offering, Biocon Biologics is in talks with ADQ, the Abu Dhabi government’s wealth fund, to advance capital.
A South Korean business, Samsung Biologics has committed to work with Eli Lilly & Company on the development of a virus neutralizing antibody for the COVID-19 virus.
In 2020, WuXi Biologics completed purchase of Bayer’s drug product manufacturing facility in Germany. WuXi Biologics’ first medication production facility in Europe was expected to increase the company’s commercial manufacturing capabilities.
In October 2020, Cadila Pharmaceuticals released two similar biologics known as NuPTH and Cadalimab in the Indian market to increase its geographical reach.

Biologics Market Companies

Eli Lilly & Company
Samsung Biologics
F Hoffman La Roche
Celltrion Addgene
Amgen
Abbvie Inc.
Sanofi
Pfizer Inc.
Merck & Co. Inc
Novo Nordisk A/S

Segments Covered in the Report

By Source

Microbial
Mammalian
Others

By Product

Monoclonal Antibodies
- Human mABs
- Humanized mABs
- Chimeric mABs
- Murine mABs
Vaccines
RecombinantProteins
Antisense, RNAi & molecular therapy
Cell Based Therapies
- Stem Cell Therapy
- CAR-T Cell Therapy
- Tissue Engineering
Others

By Indication

Oncology
Immunological Disorders
Cardiovascular Disorders
Hematological Disorders
Others

By Manufacturing

Outsourced
In-house

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

By Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa