Global Biologics Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global biologics market reached a value of nearly $269,152.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 12.6% since 2015. The market is expected to decline from $269,152.8 million in 2019 to $239,168.6 million in 2020 at a rate of -11.1%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 14.7% from 2021 and reach $464,604.9 million in 2023. Technology is expected to be a continued driver of market growth during this period.
The biologics market consists of sales of biologics and related services by entities (organizations, sole traders and partnerships) that produce biologics or biosimilars to treat and prevent various microbial diseases and cancers. The biologics market comprises companies manufacturing biological products that are derived from genetically modified proteins and human genes. Biologics products include a wide range of recombinant therapeutic proteins, gene therapy tissues, somatic cells, vaccines, and allergenics.
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The global biologics market is further segmented based on type, route of administration, drug classification, mode of purchase and geography.
By Type: Monoclonal Antibodies, Therapeutic Proteins.
By Route Of Administration: Oral. Others (IV or IP)
By Drug Classification: Branded Drugs, Generic Drugs.
By Mode Of Purchase: Prescription Drugs, OTC Drugs.
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies.
By Geography: The global biologics market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific biologics market accounts for the largest share of 53.1% in the global biologics market 2019.
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Trends In The Biologics Market
The biologics market is witnessing robust research and development activities. These research and development activities have led to increasing success rates in clinical trials for biologics. Research and development is being carried out by market leaders in the biologics market as they continuously strive to make breakthroughs in the market in the form of new and effective biologics.
Biologics Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides biologics market overviews, analyzes and forecasts market size and growth for the global biologics market, biologics market share, biologics market players, biologics market segments and geographies, biologics market’s leading competitors’ revenues, profiles and market shares. The biologics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.