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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.
Biologics Market Analysis
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 Market Overview
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.
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Biologics Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Biologics Market: Strategic Insights
Mrinal
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Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Biologics Market Drivers and Opportunities
Increasing Prevalence of Chronic Diseases Favor Biologics Market
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.
Evolution of Biotechnology Industry in Developing Regions to Create Opportunities for Biologics Market Growth
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.
Biologics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the biologics market analysis are product, application, source, and manufacturing.
- Based on product, the biologics market is divided into monoclonal antibodies, vaccines, recombinant hormones/proteins, cell and gene therapy, and others. The monoclonal antibodies segment held the largest share of the market in 2023, and it is further anticipated to register the highest CAGR during the forecast period.
- By application, the market is segmented into cancer, infectious diseases, autoimmune diseases, and others. The cancer segment held the largest share of the market in 2023; it is further anticipated to register the highest CAGR during 2023–2031.
- Based on source, the biologics market is divided into mammalian and microbial. The microbial segment held a larger share of the market in 2023. The mammalian segment is anticipated to register a higher CAGR during the forecast period.
- In terms of manufacturing, the market is bifurcated into outsourced and in-house. The outsourced segment held a larger share of the market in 2023, and it is estimated to register a higher CAGR during 2023–2031.
Biologics Market Share Analysis by Geography
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.
Biologics Market Report Scope
Biologics Market News and Recent Developments
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:
- Samsung Biologics, a global contract development and manufacturing organization (CDMO), announced a partnership agreement with LegoChem Biosciences, a biotech company pioneering the research and development of antibody-drug conjugate (ADC) programs. Under the terms of the deal, Samsung Biologics will provide antibody development and drug substance manufacturing services as a part of LegoChem Biosciences' ADC program designed to treat solid tumors. (Samsung Biologics, Press Release, February 2024)
- Selvita S.A. announced a strategic initiative to significantly expand its services portfolio and enter the field of biologic drug discovery and development by adding comprehensive therapeutic antibody discovery and development capabilities to its portfolio. (Selvita, Press Release, March 2024)
Biologics Market Report Coverage and Deliverables
The "Biologics Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Biologics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Biologics market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Biologics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the biologics market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
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.
The List of Companies - Biologics Market
- AbbVie Inc.
- Pfizer Inc.
- Samsung Biologics
- ADMA Biologics, Inc.
- WuXi Biologics
- Catalent, Inc
- AGC Biologics
- AstraZeneca
- Amgen Inc.
- Avecia Biologics
- Quality Assistance s.a.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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