Global Biologics Market Opportunities And Strategies
The global biologics market is expected to decline from $269.2 billion in 2019 to $239.2 billion in 2020 at a compound annual growth rate (CAGR) of -11.2%. The decline is mainly due to the worldwide supply and demand failures of drugs due to the COVID-19 outbreak. The biologic drug shortages because of an inadequate production of biologics is hampering the market growth. The inadequate or slowed production is due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 15% from 2021 and reach $464.7 billion in 2023.
The biologics market consists of sales of biologics and related services by entities that produce biologics to treat and prevent various microbial diseases and cancers. This industry includes establishments that produce 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.
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The global biologics market is further segmented based on type and geography.
By Type: Monoclonal Antibodies (MAbs), Therapeutic Proteins, Vaccines
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others
By Route Of Administration: Oral, Parenteral, Others
By Drug Classification: Branded Drugs, Generic Drugs
By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs Subsegments Covered, Anti-Cancer MAbs, Immunological MAbs, Anti-Infective Monoclonal Antibodies (MAbs), Neuropharmacological MAbs, Cardiovascular And Cerebrovascular MAbs, Others - Monoclonal Antibodies (MAbs), Metabolic Disorders Therapeutic Proteins, Cancer Therapeutic Proteins, Cardiovascular Therapeutic Proteins, Immunological Therapeutic Proteins, Others - Therapeutic Proteins, Anti-Infective Vaccines, Autoimmunity Vaccines, Others-Vaccines.
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, North America has the largest share, accounting for 53% of the global market.
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Trends In The Biologics Market
Biologics are being widely used to provide effective treatment for many complex diseases such as rheumatoid arthritis, psoriasis, Crohn’s disease, that have limited treatment options. There has been a significant advance in the treatment of rheumatoid arthritis patients who do not respond to traditional disease-modifying anti-rheumatic drugs.
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 biologics market size and growth for the global biologics market, biologics market share, biologics market players, biologics market size, biologics market segments and geographies, biologics market trends, biologics market drivers and biologics market restraints, 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.