Biologics
are medicinal products manufactured or derived from biological sources such as
living organisms or their components. They include vaccines, blood and blood
components, allergenics, somatic cells, gene therapy, tissues, and recombinant
therapeutic proteins. The wide range of biologics available has revolutionized
the treatment of chronic diseases such as cancer, autoimmune disorders, and
other genetic conditions. Biologics, when compared to small molecule drugs,
have fewer side effects and are able to target specific molecular entities
involved in disease pathways.



The global biologics market is estimated to be valued at US$ 463.06 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.



Market Dynamics:



Increasing Demand for Biologics for Treatment of Chronic Diseases



Rise in chronic diseases such as cancer, diabetes, autoimmune disorders is one
of the major drivers of the biologics market. According to the Centers for
Disease Control and Prevention, in the U.S. around 133 million Americans were
living with at least one chronic disease in 2016. Biologics are highly
effective in management of such chronic diseases with high degree of precision
and minimal side effects. For instance, biologics such as monoclonal antibodies
have revolutionized cancer treatment by precisely targeting tumor
microenvironment.



Factors such as approval and launch of new biologics, increasing demand for
targeted therapies and rising healthcare expenditures will continue to offer
significant opportunities for players in the global biologics market over the
forecast period. However, high costs of biologics are expected to hinder market
growth.



SWOT Analysis



Strength: The biologics market offers alternative treatment options for various
diseases. Biologics such as monoclonal antibodies have revolutionized cancer
treatment by precisely targeting tumor cells. Some biologics are cost-effective
medicines that help treat chronic conditions like rheumatoid arthritis and
decrease long-term healthcare costs.



Weakness: Biologics require complex manufacturing processes and are more
expensive to produce than traditional drugs. Their production involves living
cells and depends on bioreactors and exact growth conditions for cells. This
results in higher costs which are usually not affordable for many patients.
Long-term effects of certain biologics are still unknown which limits their
widespread usage.



Opportunity: The rising incidence of cancer, autoimmune diseases, and other
chronic conditions drives the demand for specialized treatment options.
Biologics present a major opportunity to demonstrate efficacy in new
therapeutic areas and provide affordable treatment options in developing
markets. Increasing focus on value-based healthcare may lower costs and improve
access to biologics globally.



Threats: Patent expirations of major biologics allow the entry of biosimilars
which threatens the market share of innovator companies. Stringent regulations
for manufacturing and approvals also affect the biotechnology industry's ability
to innovate and commercialize new products. Healthcare reforms and uncertain
funding may restrict access to expensive biologics in certain countries.



Key Takeaways

Global
Biologics Market Size is expected to witness high growth in the
forecast period of 2024 to 2031 driven by the rising burden of non-communicable
diseases. According to market estimates, the biologics industry size will
increase from US$ 463.06 billion in 2024 to over US$1 trillion by 2031,
registering a CAGR of 8.2%.



Regional analysis: North America currently dominates the biologics market owing
to presence of major manufacturers and availability of advanced healthcare
facilities. The United States accounts for over 40% of global sales. However,
Asia Pacific is emerging as the fastest growing regional market due to growing
medical needs of its large population and increasing affordability of biologics
in countries like China and India.



Key players: Key players operating in the biologics market are Advanced
Accelerator Applications, Seattle Genetics, Amgen, Bristol-Myers Squibb, Eli
Lilly and Company, Merck, Novo Nordisk, Sanofi, and Pfizer. These leading
companies are focusing on expanding their product portfolios through
acquisitions and partnerships to strengthen their presence across major
markets.

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