The biologics market size is projected to reach US$ 1,793.9 billion by 2031 from US$ 469.2 billion in 2023. The market is expected to register a CAGR of 18.2% in 2023–2031. Rising research and development (R&D) activities and increasing investments in biologics are likely to act as key trends in the biologics market.
The increasing number of cases and diagnoses of chronic diseases triggers the need for sophisticated diagnostic and treatment drugs, which contributes significantly to the global biologics market. Discovery studies involving new compounds are undertaken to explore therapeutic options for patients who do not react to conventional treatments and demonstrate greater protection and effectiveness. Biologics are genetically modified drugs that target the specific site of inflammation that is triggered by the immune system in response to harmful stimuli. Given the emergence of COVID-19, governments in various countries also took measures to boost the healthcare industry and ensure biologics supply. In addition, researchers and scientists are studying various species and expression systems to improve the productivity of biologics. The development of cell lines and reagents to improve the yield of biologics manufacturing processes would further benefit biologics market growth. However, stringent regulations and high drug development costs limit the market growth.
Biologics is emerging as a dynamic and promising therapeutic segment in the pharmaceutical industry, offering a unique approach to treating various diseases and medical conditions. The biologics market is growing continuously owing to enormous spending by pharmaceutical and biotechnology companies on improving their production facilities. The geriatric population is at high risk of developing chronic diseases such as cancer and autoimmune diseases, reflecting a need for biologics and drugs for treatment. Biologics such as monoclonal antibodies (MAbs), vaccines, recombinant proteins, antisense, RNAi, and molecular therapies are being studied for their potential to treat these medical conditions. MAbs are gaining popularity in therapeutic applications due to their specificity and effectiveness in targeting specific antigens. Therefore, the growing demand for therapies and the preference for outsourcing provide impetus to the biologics market growth.
According to a study titled "Chronic Disease: A Bio-Logical Approach," published in Ellerston Capital Limited, 41 million people worldwide die from chronic diseases every year, accounting for 74% of all deaths worldwide. Cancer was responsible for almost 10 million deaths in 2020, i.e., 1 in every 6 deaths. According to GLOBOCAN, 19.3 million cancer cases were registered worldwide in 2020, and the number is estimated to rise to 24.6 million by 2030. In addition, the prevalence of autoimmune diseases increases annually by 3–9%. The count of Alzheimer's disease cases is expected to reach 78 million by 2030 and 139 million by 2050. According to the World Health Organization (WHO), every year, ~17 million people across the world succumb to death due to noncommunicable diseases before the age of 70.
Biologics such as antibodies and vaccines offer more targeted treatment because they are designed to interact with the immune system in specific ways to deliver a therapeutic or prophylactic effect. Biological drugs have the promising potential to treat a few chronic autoimmune diseases by blocking the overactive components (proteins in many cases) of the immune system, which damage joints, skin, and other body parts. The treatment of cancer with biologics involves using the body's immune cells to kill cancerous cells; cytokines such as interferons, interleukins, and mAbs are the most commonly used biological therapies employed to treat cancer. Therefore, the increasing prevalence of chronic diseases drives the growth of the biologics market.
Antibodies are required in numerous applications in modern biotechnology, from fundamental research to innovative medical therapeutic approaches. The development of therapeutic antibodies has opened new avenues in treating various diseases, demonstrating the transformative ability of these particles. Antibodies are also crucial in diagnostics as they provide accurate and reliable approaches to disease identification. Growing support from governments, rising public–private partnerships, continuously changing disease profiles, and increasing funding activities are widely enhancing the performance of biotechnology industries in regions such as Asia Pacific, South & Central America, and the Middle East & Africa. Countries such as the UAE, Saudi Arabia, Oman, Muscat, Bahrain, Taiwan, Malaysia, India, China, Singapore, and Japan are among the most lucrative markets for the biotechnology industry. Advancements in biotechnology, genetics, and cell biology have contributed to the identification of several potential therapeutics for targeted treatments. Biotechnology is a strategic sector for China. The Made in China 2025 initiative emphasizes on research capabilities supporting the manufacturing of high-tech products, including innovative medicines. The plan introduced Chinese pharmaceutical companies to target areas to spur biotechnology innovation and enhance exports. Asian countries are more focused on using genomics, proteomics, and biomarker advancements for diagnostic and therapeutic applications. Therefore, the ongoing developments in the biotechnology industry in developing regions are expected to create opportunities for the biologics market in the coming years.
Key segments that contributed to the derivation of the biologics market analysis are product, application, source, and manufacturing.
The geographic scope of the biologics market report is mainly divided into five regions: North America, Asia Pacific, Europe, and the Middle East & Africa.
North America dominates the biologics market. Market growth in the region is attributed to the high prevalence of chronic diseases, numerous leading biopharmaceutical companies, favorable reimbursement policies, and significant investments in research and development. According to an article published in the JAMA Network, biologics R&D spending accounted for 37% of total drug R&D spending in the US. The number of prescriptions written for biologics and investments in the development of targeted drugs are on the rise in the country. Additionally, the approval of several novel biological drugs such as antisense, gene therapy, and RNAi therapeutics is expected to further drive the market growth. Asia Pacific is anticipated to record the highest CAGR during 2023–2031.
The regional trends and factors influencing the Biologics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Biologics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 469.2 Billion |
| Market Size by 2031 | US$ 1,793.9 Billion |
| Global CAGR (2023 - 2031) | 18.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Biologics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Biologics Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The biologics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
The "Biologics Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The List of Companies - Biologics Market
The market is expected to register a CAGR of 18.2% during 2023–2031.
The estimated value of the market would be US$ 1,793.9 billion by 2031.
Strategic initiatives by companies would bring attractive trends in the market in the coming years.
AbbVie Inc., Pfizer Inc., Samsung Biologics, ADMA Biologics Inc., WuXi Biologics, Catalent Inc, AGC Biologics, Crescendo Biologics Limited, Zumutor Biologics INC, Theriva Biologics, AstraZeneca, Amgen Inc., Avecia Biologics, and Quality Assistance s.a. are among the key players in the market.
North America dominated the market in 2023.
The increasing prevalence of chronic diseases and preference for outsourcing manufacturing operations are among the pivotal factors fueling the market growth.