Report ID: 10078502 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Biologics Market Research Report Scope
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
~9% |
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Base Year Market Size (2021) |
~ USD 366.0 Billion |
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Forecast Year Market Size (2031) |
~ USD 615.0 Billion |
Global Biologics Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global biologics market is estimated to garner a revenue of USD 615.0 billion by the end of 2031 by growing at a CAGR of ~9% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 366.0 billion in the year 2021. The growth of the market can be attributed to the growing awareness among people related to the use of biologics products for the treatment of diseases. According to the statistics published by the World Health Organization in 2020, vaccines and other biological products are able to save millions of lives every year. Moreover, vaccines help to reduce the burden of global disease, which is estimated to save 2-3 million lives annually.
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Biologic drugs are produced from viruses, proteins, blood, and any other living organisms in the product type of vaccines, antibodies, cell therapy, and other forms to treat different diseases such as arthritis, cancer, asthma, and others. Contrary, it has several side effects such as allergic hypersensitivity and infusion reactions still it cannot surpass the benefits patients gets from the use of biologics. As per the U.S. Department of Health and Human Services, biological spending has increased to USD 211 billion in 2019, growing twice as fast as overall drug spending since 2015.
Global Biologics Market: Growth Drivers and Challenges
Growth Drivers
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Surge in the Biopharmaceutical Industry– According to the India Brand Equity Foundation, the Indian biotechnology industry is expected to reach USD 150 billion in 2025 from USD 70.2 billion in 2020.
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Rise in Chronic Diseases– As chronic migraine, anaemia, and other diseases are treated with newly approved biologic drugs. Therefore, it is expected to surge the growth of the global biologics market As per the data published by the World Health Organization in 2021, more than 15 million deaths happened from a noncommunicable disease between the ages of 20 and 69 years.
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Growing Investment on Research and Development by Pharmaceutical Industry – There has been a rise in the spending on research and development for new drugs by the pharmaceutical industry over the past two decades which is expected to drive the growth of the global biologics market. The pharmaceutical industry spent nearly USD 83 billion on research and development in 2019 representing 10 times more than what the industry spent in the 1980s in the United States according to the Congressional Budget Office.
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Increase in the Approval of Biologics Drugs from the Regulatory Authorities – Food and Drug Administration approved 53 drugs in 2020 out of which 13 were biologics drugs.
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Rising Research and Development Expenditure Across the Globe– The rise in research and development expenditure across the globe is expected to advance the technology and innovation in the pharmaceutical industry. Therefore, it is projected to surge the growth of the global biologics market. As per The World Bank, the research and development expenditure has increased from 2.05 percent of GDP in 2000 to 2.63 percent in 2.63 percent of GDP in 2020.
Challenges
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High Cost of Biologics Products
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Rapid Emergence of Biosimilar Products
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Lack of Availability of Biologics
The biologics market is segmented and analyzed for demand and supply by application into cancer, infectious disease, immunological disorders, haematological disorders, cardiovascular disease, and others. Out of these, the cancer segment is anticipated to hold the largest share over the forecast period in the global biologics market owing to the increasing incidence of cancer cases globally. According to the World Health Organization, cancer accounted to approximately 10 million deaths happened in the year 2020 representing one in six deaths.
Global Biologics Market Regional Synopsis
Regionally, the global biologics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2031. This can be attributed on the back of factors such as a rise in health expenditures, increasing incidences of chronic diseases, an increase in the establishment and advancement of biotech companies, and the influential presence of pharmaceutical companies. As per the Centers for Disease Control and Prevention, the per capita health expenditures in the U.S increased to USD 11,172 billion in 2018 from the past years.
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Market Segmentation
Our in-depth analysis of the global biologics market includes the following segments:
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By Product Type |
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By Application |
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Key Companies Dominating the Global Biologics Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global biologics market that are included in our report are Eli Lilly and Company, Pfizer Inc., Biocon, Viatris Inc., Stryker Corporation, NuVasive, Inc., Arthrex, Inc., Zimmer Biomet Holdings, Inc., Exatech, Inc., Medtronic Inc., and others.
Global Biologics Market: Latest Developments
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May, 2022: Company Name - Biocon Biologics Ltd. (Biocon Ltd.,) and Viatris Inc. announced that Abevmy (bBevacizumab) is now available in Canada. Abevmy is a biosimilar to Roche's Avastin (Bevacizumab) that was co-developed by Biocon Biologics and Viatris and has been approved by Health Canada for four oncology indications.
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December, 2021- Pfizer Inc., and BioNTech announced submission of a supplemental Biologics Licence Application to the U.S. Food and Drug Administration (FDA).
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by product type, application, and by region.
The cancer segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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Report ID: 10078502 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
