Biologics Industry Overview

The pharmaceutical market is mainly dominated by small molecules in terms of numbers and total revenues. However, exciting times are coming for the global biologics industry, reflecting the success of biologics to treat major chronic diseases and certain kinds of cancer and autoimmune diseases. Historically, long approval period of biologics due to stringent manufacturing processes and regulatory pathways made the global biologics industry less attractive for investors. Biologics typically went through about five times as many in-process tests during development comparing to other pharmaceutical drugs. The situation changed in 2016, when biologics accounted for six out of eight best sold drugs . The Business Research Company expects that the revenues of the biologics industry to grow to $481 billion and its share of the gross world product is also expected to double by 2022. The biologics market consists of sales of biologics and related services by entities (organizations, sole traders and partnerships) that manufacture biologics to treat and prevent various microbial diseases and cancers. This industry includes establishments that manufacture products that are composed of sugars, proteins, nucleic acids, and combination of all these substances isolated from humans, animal and microorganisms or produced from biotechnology methods.