Global Biologics Market Size 2024, Forecast To 2033
11 Mar, 2024
The biologics market has demonstrated robust growth, escalating from $416.65 billion in 2023 to $454.4 billion in 2024, with a compound annual growth rate (CAGR) of 9.1%. The upswing in the historic period can be attributed to an aging population, government initiatives, the ability to command high prices, and an increased need for immunology. Looking ahead, the market is poised for rapid growth, projecting to reach $666.31 billion in 2028, with a CAGR of 10.0%. The forecasted growth in the coming years is underpinned by factors such as increased funding, technological advancements, improved healthcare access, robust research and development activities for oral biologics, a preference for pills over injections, and a growing pipeline of biologics. Notable trends in the forecast period include capitalizing on revised regulations for the development of new and improved biologics, a shift towards biologic drug development, increased investment in R&D for innovative biologics, and a focus on researching biologics for the treatment of complex diseases.
Global Biologics Market Key Driver
The global biologics market is witnessing significant growth propelled by the rising demand for personalized medicine. Personalized medicine, also known as precision medicine, tailors healthcare and medical treatment to individual patient characteristics. This approach allows the customization of biologic treatments based on a patient's specific genetic and clinical profile, transforming the healthcare landscape. Notably, personalized medicines accounted for over a third of new drug approvals in 2021, representing approximately 35% of all newly approved therapeutic molecular entities, according to the Personalized Medicine Coalition's report. The increasing demand for personalized medicine is a key driver for the growth of the biologics market. The market size is forecasted to grow from $X billion in 2023 to $Y billion in 2024 and further reach $Z billion by 2028.
Get A Free Sample Of The Global Biologics Market ReportGlobal Biologics Market Segments
The biologics market covered in this report is segmented –
1) By Type: Monoclonal Antibodies (MAbS), Therapeutic Proteins, Vaccines
2) By Drug Classification: Branded Drugs, Generic Drugs
3) By Route Of Administration: Oral, Other Route Of Administration
4) By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Other Distribution Channels
Subsegments Covered: Anti-Cancer MAbS, Immunological MAbS, Anti-Infective Monoclonal Antibodies (MAbs), Neuropharmacological MABS, Cardiovascular And Cerebrovascular MAbS, Other Monoclonal Antibodies (MAbs), Metabolic Disorders Therapeutic Proteins, Cancer Therapeutic Proteins, Cardiovascular Therapeutic Proteins, Immunological Therapeutic Proteins, Other Therapeutic Proteins, Anti-Infective Vaccines, Autoimmunity Vaccines, Other Vaccines
By Geography:The regions covered in the biologics market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
North America was the largest region in the biologics market in 2023. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the biologics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Biologics Industry Players
Merck & Co., Inc., AbbVie Inc., F. Hoffmann-La Roche AG, Johnson & Johnson, Pfizer Inc., Bristol Myers Squibb Company, Sanofi S.A., GlaxoSmithKline Plc., Eli Lilly and Company, Amgen Inc., Wockhardt, Zydus Cadilla, Asahi Glass Co. Ltd., China Biologic Products Holdings Inc., China Regenerative Medicine International, ABLbio, Adimmune, Henlius, Innovent Biologics, Bio-Thera, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, Shanghai Fosun Pharmaceuticals, Biocon, Dr.Reddy’s, Mylan, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, AGC Biologics, Tonghua Dongbao Pharmaceutical Co., China Regenerative Medicine International, Shanghai Fosun Pharmaceuticals, Bayer AG, Novartis AG, BiosanaPharma, WuXi, Teva UK Limited, AstraZeneca, Abbott Laboratories, Vectura Group, Fujifilm, Lonza, Seqens, Piramal Pharma Solutions, Corden Pharma, Procos SpA and BSP Pharmaceuticals., Microgen, Geropharm, Valenta, NovaMedica, SynBi, Rani Therapeutics, Emisphere Technologies Inc., Enteris BioPharma, Allena Pharmaceuticals, Biogen Inc., Emisphere Technologies Inc., Biogen Inc., Novartis, Apotex, Gilead Sciences, Bayer, Abbott Laboratories
Get The Full Global Biologics Market Report
Biologics Market Overview
Biologics are medications made from organic materials that can be used to treat a wide range of illnesses, and they are frequently used to treat immune-related illnesses such Crohn's disease, psoriasis, ankylosing spondylitis, and rheumatoid arthritis. The interesting aspect is that biologics are separated from various natural sources, whether they be carbohydrates, proteins, nucleic acids, or a complex mixture of these materials.
Biologics Global Market Report 2023 provides data on the global biologics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biologics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.