Biologics Market Size is projected to reach USD 506 Billion by 2030, growing at a CAGR of 4%: Straits Research
June 23, 2022
The North American region has the major share of the market with figures of USD 247 billion in 2021 and is expected to grow to USD 345 billion in 2030 at a CAGR of 4%. The global biologics market size is expected to grow to USD 506 billion by 2030 at a CAGR of 4% from the early figures of USD 343 billion in 2021.
/EIN News/ -- New York, United States, June 23, 2022 (GLOBE NEWSWIRE) -- The market for biologics is growing steadily because companies are spending a lot of money to improve the places where they make their products. Biologics can be used in many ways to treat chronic diseases, so the market is also expected to grow. These products come from different kinds of living things, like bacteria, mammals, plants, and animals that have been changed through genetic engineering. The fact that it is easy to get microbial cell lines and cheap and easy to grow them explains why they are used in so much biological production.
The biologics market has many products, such as monoclonal antibodies (MAbs), vaccines, recombinant proteins, antisense, RNAi, molecular therapy, and many more. MAbs are thought to have the largest share of the market because they work so well in so many clinical settings, from treating diseases to clinical research.
MAbs are put into groups like diagnostics, therapy, protein purification, and others based on how they are used in different areas of life science. Since some companies in the market make these products on their own, it is thought that the in-house method makes up a larger share. Also, these companies keep spending money to get better at making things.
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Commercial Success Achieved by Biologics with Advancements in the Biomedical Sciences Driving the Biologics Market
In recent years, a lot of companies have been making biologics, unlike in the older days. Biologics have changed how diseases are treated and given researchers many chances to look into hybrid structures that combine biologics with well-defined chemical entities. Biotechnology is changing quickly, which has made biologics a huge success.
Biologics include antibodies, coagulation proteins, fusion proteins, growth factors, interferon, liposomes, vaccines, cell/tissue therapies, enzymes, hormones, interleukins, peptides, and more. Companies are interested in this field because biological molecules can interact with hard-to-reach targets that small molecules have been able to avoid. Biologics also seem to have a lot of business potential because they are better for the economy as a whole than small molecules.
Biotechnology and biomedical science are always getting better, which has made it much easier to make biologics to treat a number of long-term conditions. Scientists wanted to find out more about how cell lines are made, how proteins are found and expressed, and how they can be used in engineering by making these changes.
In the past few years, biotechnology has led to the development of a number of ways to make self-adjuvant antigen-adjuvant fusion protein subunit vaccines. People think that platforms of new adjuvants have been defined with the development of new vaccines. Also, nanosystems have grown in the past few years as they help solve the delivery problems that come with using mRNA therapeutics to treat diseases.
Increase in the Use of Biologics Products Creates Huge Opportunities in the Said Market Domain
During the period covered by the forecast, the biologics market is expected to grow by about 4.4% on average. Depending on how the products are used now and how they are expected to grow in the future, some segments are likely to grow in a way that will make money. MAbs are seen to have high market penetration in the current market compared to other market segments. This large share can be explained by the fact that there are a lot of different products in this category and that market players keep spending money to improve the effectiveness of MAbs in different ways to treat disease.
On the other hand, vaccines are expected to bring in more money in the coming years because more money is going into research and development to make them better. Also, there are partnerships and ongoing research projects that aim to make biological products like recombinant proteins, antisense, RNAi, molecular therapy, and other things. These have opened up a wide range of opportunities.
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Regional Analysis of the Global Biologics Market –
The global biologics market is mostly divided into four regions - North America, Europe, Asia-Pacific, and Latin America. North America is by far the biggest market for biologics in the world.
North America -
North America has the biggest share of the market. In 2021, it was worth USD 247 billion, and by 2030, it is expected to be worth USD 345 billion, at a CAGR of 4%. This is because healthcare facilities in the area are growing at a very fast rate.
Europe is the second-largest market for biologics in the world, with a market value of USD 57 billion in 2021 at a CAGR of 5%, and is expected to reach USD 85 billion by 2030.
This list ranks Asia-Pacific third, but its growth rate is the highest of all the regions on the list. It will be worth USD 28 billion on the market in 2021 and USD 57 billion by 2030, which is an amazing CAGR of 8%.
Latin America –
Latin America has the smallest market share. In 2021, the market value in Latin America was USD 5 billion, and it is expected to grow to USD 7 billion by 2030, at a CAGR of 5%.
Key Highlights –
- The global biologics market is expected to grow to USD 506 billion by 2030, at a CAGR of 4% from the early figures of USD 343 billion in 2021.
- The microbial segment in the by source owes the major share of the market with a market value of USD 199 billion in 2021 and is expected to grow to USD 296 billion by 2030 at a CAGR of 5%.
- By manufacturing, the in-house segments has a dominant market share of USD 156 billion in 2021 and growing to USD 198 billion by 2030 at a CAGR of 3%.
- North America being the leading region in the global biologics market, accounts for a market value of USD 247 billion in 2021 and is expected to grow to USD 345 billion in 2030 at a CAGR of 3%.
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Competitive Analysis of the Global Biologics Market –
The major players in the global biologics market are
- Bristol-Myers Squibb Company
- Merck KGaA
- Novartis AG
- Novo Nordisk A/S
- Pfizer Inc.
- Johnson & Johnson Services Inc.
- Hoffmann La Roche Ltd.
Global Biologics Market: Segmentation
- North America
- Latin America
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TABLE OF CONTENT
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Biologics Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
184.108.40.206 North America
220.127.116.11 Central and South America and the Caribbean
18.104.22.168 The Middle East and Africa
5 Source Overview
5.1.1 Market Size & Forecast (Value & Volume)
5.2.1 Market Size & Forecast (Value & Volume)
5.3.1 Market Size & Forecast (Value & Volume)
6 Manufacturing Overview
6.1.1 Market Size & Forecast (Value & Volume)
6.2.1 Market Size & Forecast (Value & Volume)
6.3.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.6 Rest of Central and South America and the Caribbean
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.5 The U.K.
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.8 The Rest Of Middle East
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 Bristol-Myers Squibb Company
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.4 Merck KGaA
8.5 Novartis AG
8.6 Novo Nordisk A/S
8.7 Pfizer Inc
8.8 Johnson & Johnson Services Inc
8.9 Hoffmann La Roche Ltd
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
Read the full Report Description with Table of Content and Figure @ https://straitsresearch.com/report/biologics-market/toc
Market News -
- In March 2022, The European Medicines Agency approved Bristol Myers Squibb's request to use Opdivo (nivolumab) with chemotherapy as a neoadjuvant treatment for non-small cell lung cancer that can be removed.
- In January 2022, Merck KGaA presented its new technological advancements for the electronics industry at the CES show and discussed how it could be assistive in the biologics department.
- In February 2022, Novartis India Limited signed an exclusive sales and distribution agreement with Dr. Reddy's Laboratories to make more of its medicines available in India.
- In May 2022, Novo Nordisk and Flagship Pioneering announced that they would work together to make a portfolio of medicines that would change the world.
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