Biologics Market Size to Reach USD 477.15 Billion in 2027 | Rapid Advancements in Molecular Therapy and Cell-Based Biologics, Increasing Incidence of Chronic Diseases, are Some Key Factors Driving Industry Growth, says Emergen Research
VANCOUVER, BC, July 29, 2021 /PRNewswire/ -- -- The global biologics market size is expected to reach USD 477.15 billion in 2027 at a CAGR of 7.3% during the forecast period, according to the latest report by Emergen Research. Increasing demand for monoclonal antibodies (mAb), rapid development in cell-based and molecular therapies, and increasing use of biologics in treatment of chronic and target diseases such as cancer, autoimmune diseases, and cardiovascular diseases among others are key factors expected to drive market revenue growth over the forecast period. In addition, increasing demand for effective and novel therapeutic approaches and rising acceptance of biologics and molecular therapy are some other key factors contributing to revenue growth of the market.
Biologics are products produced from living organisms – such as humans, animals, or microorganisms – or certain components through biotechnology techniques. These products are genetically engineered materials that target specific parts of the immune system and include a wide range of products such as vaccines, gene therapy, tissues, recombinant therapeutic proteins, and blood and blood components, among others. Gene-based and cellular biologics are crucial components in biomedical research and are extensively used to treat a wide variety of medical conditions when no other treatment approach is available. Rapid rise in target diseases and emergence of COVID-19 pandemic have significantly increased the demand for biologics and the trend is expected to continue going ahead.
However, development of cost-effective biosimilars to treat chronic and severe diseases is one key growth limiting factor. In addition, biologics are heat sensitive and susceptible to microbial contamination and this can limit their adoption in development of various drugs. This is expected to further restrain market growth to a certain extent over the forecast period.
Some Key Highlights in the Report:
Mammalian biologics segment is expected to register a steady revenue CAGR of 7.8% during the forecast period owing to increasing application of mammalian cells in expression systems to develop recombinant proteins and hormones by introducing essential molecular machinery for enhanced biological activity.
Monoclonal antibodies segment is expected to account for a significant revenue share in the global market over the forecast period owing to increasing use of monoclonal antibodies (mAb) in treatment of target diseases without causing damage to surrounding healthy cells and tissues. Monoclonal antibodies can be used in the treatment of cancer, multiple sclerosis, systemic lupus erythematosus, CVD, and transplant rejection, among others.
Cancer segment is expected to register significant revenue growth over the forecast period attributable to increasing demand for biologics in treatment of various cancers as it can quickly detect and target cancer cells and switch on/off signals that are released by cancer cells to evade the immune system.
Asia Pacific market revenue is expected to expand at a CAGR of 8.9% during the forecast period owing to increasing investment and funding to accelerate biologics research, establishment of advanced research and healthcare facilities, rising awareness regarding personalized medicine, and growing incidence of chronic diseases.
Key companies in the market include Novo Nordisk A/S, Pfizer Inc., Amgen, Sanofi, Samsung BioLogics, Merck & Co. Inc., Celltrion, AbbVie Inc., Johnson & Johnson Services Inc., and GlaxoSmithKline, among others.
In July 2021, U.S.-based Adagio Therapeutics granted an exclusive manufacturing and commercialization license to Biocon Biologics to develop and market antibody treatment based on ADG20, a monoclonal antibody that targets the spike proteins of SARS-CoV-2 and other coronaviruses that is in global clinical development. Under the license, Biocon Biologics can develop and commercialize this antibody treatment for COVID-19 in India and other select markets.
Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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