New York, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Rise in prevalence of target chronic diseases like cancer, increase in unhealthy lifestyle habits, mergers and acquisitions by major companies, product launches, the development of biologics with higher efficiency and favorable research funding scenario are key factors contributing to high CAGR of Biologics during forecast period.
According to the current analysis of Reports and Data, the global Biologics market was valued at USD 251.5 million in 2018 and is expected to reach USD 625.6 million by the year 2026, at a CAGR of 11.9%. The study covers Biologics, a drug that contains living organisms or their specific components or by-products. Biologic medicines are usually injected into the patient’s body because of its large molecular size (200-1000x) and fragile molecular structure. Parts of organisms like their cells, tissues, recombinant proteins, genes, allergens, blood or blood components, and vaccines are used in biologic drugs. Biologics are used for the treatment of various diseases and conditions like anemia, cancer, and other autoimmune diseases. Biologics are changing the ways doctors treat common conditions that have plagued individuals for years. . Biologics have various potential advantages as they can, theoretically, be customized to hit specific ‘gene targets’ in the human body
AbbVie’s Humira (adalimumab) – a drug used to treat autoimmune disorders such as rheumatoid arthritis. Biologics products including those which are manufactured by biotechnology are heat sensitive and susceptible to contamination. Hence, it is essential to maintain aseptic condition from initial manufacturing process till the end of the production, Biologic drugs have witnessed a significant success rate, notably in cancer and autoimmune diseases. The new developments in the field of immunotherapies, gene and cell therapies, and antibody-drug conjugates, will contribute to the expected growth of biologics in the next upcoming future. Biologics are mostly to continue their growth trend with more innovative technologies and therapies coming to the market. In some therapeutic areas treatment with biologic is quite significant, especially in high-income countries. The momentum of new biologic launches is likely to continue for some time into the future. Rise in prevalence of target chronic diseases such as cancer, increase in unhealthy lifestyle habits, technological advancements, company agreements like mergers and acquisitions by key players, government support and initiative for development and implementation of biologics, collaboration of global leading companies, more companies earning market approval, product launches, the development of biologics with higher efficiency and scope, and a favorable research funding scenario are key factors contributing to high CAGR of Biologics during forecast period.
Biologics provide safer solutions in many areas of unmet medical demands, and their growth is expected to continue. Moreover, Biological products represent the cutting edge of technological innovation of technology and bio medical research and may offer the effective ways to treat diverse medical illness and ailments that presently have no other alternative treatment. Nevertheless, their high cost, patent cliff, a strict regulatory environment, and the emergence of alternative solutions, limited scope of treatment pose challenges. However, stringent government regulations and associated side effects such as gastrointestinal complications, change in blood pressure, chest pain, breathing problems, etc. is expected to hamper the market and found to be the major hindrance for market growth during 2019-2026.
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Further key findings from the report suggest
- Biologics market is growing at a CAGR of 13.0% in Asia Pacific followed by North America and Europe, with 11.8% and 11.6% CAGR, respectively. Rise in prevalence of cancer and other target diseases across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, Monoclonal Antibodies segment dominates the market holding 39.0% of the global market since it is the primary medicine used for the treatment of cancer.
- On the basis of product type, Gene biologics are growing predominantly with a CAGR of 14.3% followed by vaccines and cellular biologics.
- On the basis of application, Cancer is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 12.4%.The key factor responsible for the growth of the segment is predominant rise in cancer and geriatric population worldwide.
- Cancer application segment holds a market share of 42.2% followed by autoimmune diseases and infectious diseases holding 35.9% and 14.6% respectively.
- Asia Pacific is expected to account for the 21.4% of the global Biologics market due to the large prevalence of target diseases in countries like India and China.
- Stringent government regulations and associated side effects like gastrointestinal complications, change in blood pressure, chest pain, breathing problems etc. are the key challenges faced by the Biologics market players.
- Key participants include Merck & Co. Inc., AbbVie, Inc., AstraZeneca Plc., Amgen, Inc., Celgene Corporation, Bristol-Myers Squibb Co., Eli Lilly and Company, Janssen Pharmaceuticals, Inc., GlaxoSmithKline Plc., Novartis AG, Pfizer, Inc., and Novo Nordisk A/S
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Biologics market on the basis of product, application, end use and region:
Product type Outlook (Revenue, USD Million; 2016-2026)
- Monoclonal Antibodies
- Vaccines
- Recombinant Hormones/Proteins
- Cellular Based Biologics
- Gene Based Biologics
Application Outlook (Revenue, USD Million; 2016-2026)
- Cancer
- Infectious Diseases
- Autoimmune diseases
- Others
End use Outlook (Revenue, USD Million; 2016-2026)
- Hospitals
- Clinics
- Diagnostic Centers
- Others
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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