Biologics Market is projected to register a CAGR of 7.6% during the forecast period due to the increased demand for functional products.

The biologics market size was valued at USD 425.5 billion in 2022 and is projected to grow from USD 457.83 Billion in 2023 to USD 710.53 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.6% during the forecast period (2023 - 2030). Biologics simply put, are drugs that are available in the form of genetically engineered proteins that are derived from the human gene. It is composed of nucleic acids, proteins, sugars, or complex combinations, or living entities like tissues and cells. Biologic drugs are made from different natural sources like microorganisms, animals, or humans and comprise products like tissues, gene therapy, somatic cells, allergenics, blood & blood components, vaccines, and recombinant therapeutic proteins. Complex processes and advanced biotechnology techniques are used for manufacturing biologics. These are at the forefront of biomedical research.

Various factors are adding to the global biologics market growth. According to the new MRFR report, such factors include increasing use to treat diabetes and cancer, rising prevalence of chronic diseases worldwide, convergence & better access to healthcare, and burgeoning demand for better treatment.

On the contrary, associated side effects such as breathing problems, chest pain, change in blood pressure, and gastrointestinal complications, and strict government regulations are factors that may limit the biologics market growth over the forecast period.

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Market Competitive Landscape:

The important companies active in the Biologics Market include.

AbbVie Inc.
Pfizer Inc.
AstraZeneca
Novartis AG
Hoffman-La Roche AG
Bayer AG
Amgen
Sanofi
Eli Lilly and Company
GlaxoSmithKline Plc
Celltrion Inc.
Samsung Biologics Co. Ltd.
G. Chem Ltd


Market Segmentation

The MRFR report gives an inclusive segmental analysis of the global biologics market report based on type, application, and source.

By type, the global biologics market is segmented into gene therapy, proteins blood products, vaccines, and others. Of these, the vaccines segment will lead the market over the forecast period.

By application, the global biologics market is segmented into diabetes, cancer, anaemia, and others. Of these, the cancer segment will dominate the market over the forecast period.

By source, the biologics market growth is segmented into microorganisms, animals, humans, and others.

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Regional Analysis

Based on the region, the global biologics market report covers growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Middle East & Africa. Among these, North America will dominate the market over the forecast period. Increasing cancer and diabetic population, government support for R&D, increasing healthcare expenditure, systematic drug review process, and rising technological advances in healthcare are adding to the global biologics market growth in the region. Germany and the UK have a maximum share in the region.

The global biologics market in Europe is predicted to have the second-largest share over the forecast period. Presence of healthcare infrastructure that is technically advanced, regulatory harmonization, high patient awareness, rising funding to develop biologics accessible through private-public partnerships, and accessibility of best quality research infrastructure are adding to the biologics market growth in the region. Additional factors adding to market growth include innovative strategies by drug makers to limit the entry of new players, and rising disease incidences.

Browse In-depth Market Research Report (138 Pages) on Biologics market:

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The global biologics market in the APAC region is predicted to grow at a fast pace over the forecast period. Rapidly growing economies such as China & India, rapid development of the healthcare sector, increasing awareness about the success of biologics to treat chronic diseases, less strict regulatory environment for the clinical trial of drugs, and increase in outsourcing of biologics contract manufacturing in emerging countries is adding to the biologics market growth in the region.

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