Global Biologics Market - Forecasts from 2024 to 2029

The global biologics market is projected to grow at a CAGR of 9.54% to reach US$761.139 billion by 2029, from US$402.182 billion in 2022.

The long-term outlook of the market is determined by the increasing financial investments of the dominant market participants, the advent of chronic diseases like cancer and autoimmune illnesses, and the increasing enthusiasm for technologically advanced therapies. According to the World Health Organization, the most commonly detected cause of death worldwide is cancer and its consequences were recorded as nearly 9.7 million in 2022. Expanding tobacco and alcohol intake along with obesity, low levels of fruit and vegetable intake, and the lack of physical exercise are expected to increase the cases of cancer in the coming years.

The worldwide trend of an aged population is also supposed to create the need for biological products. Besides, capital injections in research and development are among the factors expected to have a positive influence on market growth. However, a growing number of novel treatment options like monoclonal antibodies, recombinant-DNA technology, therapeutic proteins, and vaccines driving the biotechnological and pharmaceutical companies towards the production of biologics. Also, companies have recently given a lot of attention to research and development or manufacturing facilities.

• Rising prevalence of chronic disease & Growing demand for generic drugs along with an increase in the production of vaccines

The market is growing with strong support from the rising of chronic diseases such as diabetes, asthma, cancer, auto-immune disease, and so on. Huge numbers of chronic diseases mean increasing demand for biological medicines. On the other side, surging vaccination production for the entire globe to fight dengue, malaria, and chikungunya is propelling the growth of the global biologics market. In addition, the enlarged population also lowers the demand for generic drugs in major global players like India, China, and the US.

Many countries work together for a vaccine and medical devices that could be utilized in the cure of various diseases like caner. Further, greater investments in the ongoing integrated facilities for the key players will add to the market growth. For instance, in January 2024 AbbVie is expanding its biologics manufacturing facilities via a substantial $223 million investment in expansion of its Singapore plant. This meaningful investment will concentrate on the increase of the capacity by 24 thousand liters of biologics drug materials and the creation of more than 100 new job positions. Apart from the production of the current items, they will also be instrumental in the production of next-generation products in the fields of immunology and oncology.

• Based on application, the global biologics market is segmented into oncology, neurology, cardiology, hematology, autoimmune diseases, infectious diseases, and others.

The worldwide rise in cancer mortality rates and cancer research and development activities are two factors that show a likelihood for the future increase of this market. Further, biologics treatment demonstrates fewer side effects than conventional radiotherapy/chemotherapy for some cancer types which also plays a part in the development trend of the biologics market in the oncology sector. Moreover, as new biologic therapeutics become available for treating more than one type of cancer, it will provide treatment options for multiple types of cancer. Therefore, this will drive the oncology segment of the biologic drugs market's development.

For instance, according to the American Cancer Society published article, in January 2023 it is evaluated that in the year 2023, there will be 1,958, 310 new cases of cancer and 609, 820 cancer-associated fatalities in the United States region. These incredible numbers surge in new cases and people who die of cancers worldwide will possibly lead to the global rise of activities in oncology. In addition to these, there are many other biological treatments including immunotherapy, gene therapy, adoptive cell transfer, bio-chemotherapy, and so on to discover and treat cancers around the globe. For example, such biological treatment as immunotherapy can be used for the treatment of many different cancers including lung, breast, and skin cancer, the most common types.

Furthermore, immunotherapy does not annihilate both cancer and non-cancer cells by toxic chemicals, which is the concept of chemotherapy. The second case study according to Johns Hopkins University, Merkel cell carcinoma - an aggressive type of skin cancer - was treated more effectively with immunotherapy. It resulted in better survival rates. Also, CRI came out in public in February 2022 with the global landscape of clinical drug development targeting immune PD1/PDL1 checkpoints.

For instance, in 2023 AstraZeneca published an article on clinical trials appendix in which there are some medications that are under trial and showing the best results as the output Tagrisso, or osimertinib in medical terminology, is a very powerful anticancer drug for lung cancer treatment, as a form of adjuvant therapy. This drug is classified as an EGFR inhibitor which is defined by its having a property that is distinguishable from other drugs. By having a highly selective and irreversible mechanism of action Tagrisso aims precisely at the cancer cells with EGFR mutations and establishes a continuous connection with them, thus, ultimately, inhibiting their proliferation. These key developments, as well as the benefits contributed by biologics in oncology, will bring the market share of biologics in the oncology segment to the global market.

Market Challenges

• Surge in the cost of development of new treatment options curbs the global biologics market growth.

The creation and production of biologics is costly due to the intricate process in the development and manufacturing process, prolonged clinical trials, and strict regulations by government authorities. These factors influence the patient's access and incur more healthcare investments.

• The short life span of biologics hinders the global biologics market growth.

The various biologics don't sustain more in the environment as compared to traditional or conventional drugs these biologics need to be taken care of in the inventory by preserving safely by preventing the material from being disposed of as waste.

Key Developments

• In March 2023: Sanofi a renowned pharmaceuticals and healthcare company has initiated its first biological drug called Dupixent which is specifically designed for the treatment of COPD. This drug inhibits good results during the various primary trials which help in the management process of COPD.

Market Segmentation

BY PRODUCT TYPE

• Monoclonal Antibodies
• Vaccines
• Recombinant Proteins
• Gene Therapy
• Cellular-based Biologics
• Others

BY APPLICATION

• Oncology
• Neurology
• Cardiology
• Hematology
• Autoimmune Diseases
• Infectious Diseases
• Others

BY GEOGRAPHY

• North America
• U.S
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• South Africa
• Asia Pacific
• China
• Japan
• India
• Indonesia
• South Korea
• Taiwan
• Thailand
• Others