The latest market report published by Credence Research, Inc. “Biologics Market By Product (Recombinant Therapeutic Proteins, Blood & Blood Components, Cellular & Gene Therapy, Vaccines), By Disease (Oncology, Autoimmune Diseases, Diabetes, Infectious Diseases, Others) – Growth, Future Prospects, and Competitive Analysis, 2018 -2026”, the biologics market was valued at US$ 254.9 billion in 2017 and is anticipated to achieve US$ 580.5 billion by 2026 for a CAGR of 9.5 per cent during the 2018-2026 forecast period.
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The global market for biologics shows remunerative development during the forecast period from 2018 to 2026 owing to the existence of around 800 biologics in the pipeline. The development attributed is due to the continuous development of the product portfolio, with growing demand for biologics worldwide. Rising incidence of chronic diseases, ongoing research and development activities and ongoing investment in biologics lead to general market growth. According to the World Health Organization (WHO), by 2020 chronic illnesses account for 75% of global fatalities. Cancer, autoimmune illnesses and diabetes account for more than 60% of the general market in biologics. Approximately 50 percent of the fresh molecular entities approved by the FDA were biologics in 2016. Continuous growth of cellular and gene therapy further catalyzes the market due to its elevated efficacy and therapeutic outcome. CAR-T cell therapies are the recent FDA authorized treatments for oncology signs.
Therapeutic development of biologics across indications such as asthma, allergic conditions, dyslipidemia and other non-traditional diseases ascribed to the expected development. However, the accelerated expansion of biosimilars has a adverse effect on the general development of the market in biologics. The cost-effectiveness of biosimilars with comparable efficacy would increase demand in developing nations. Biologics authorized in the U.S. include longer patent protection compared to those authorized in Europe. In addition, EMA has lower biosimilar strategies compared to the US FDA, which means that North America has a bigger market share than Europe and will remain dominant throughout the forecast period. The increasing incidence of cancer, autoimmune diseases and diabetes, the presence of major market players and ongoing study activities are driving the North American market. Asia Pacific is the fastest-growing CAGR double-digit market accounting in the forecast period. The expansion of global players in developing countries contributes to the development of the biologics industry in the region. Novartis AG wants to launch its FDA-approved Kymriah therapy in Japan. However, debates on therapy pricing in Japan are still under negotiation with the Ministry of Health and Labor and Welfare (MHLW).
Biologics entering the market contest with similar indications and with more or less similar mechanism of action. Biologics market is thus highly competitive comprising established and leading market players such as Abbvie, Inc., Amgen, Inc., AstraZeneca Plc., Celgene Corporation, Janssen Pharmaceuticals, Inc., Merck & Co. Inc., Novartis AG, Pfizer, Inc., Roche Holding AG, Sanofi S.A and Takeda Pharmaceutical Co., Ltd.
Key Market Movements:
- Globally, biologics market continues to witness a lucrative growth with a CAGR of 9.5% for the period from 2018 to 2026
- Presence of an extensive product portfolio and above 800 pipeline molecules, contributed to the overall growth of the market
- Among all the products available, recombinant therapeutic proteins maintains dominancy comprehending larger market share during the period from 2016 to 2026
- The introduction of new cellular and gene therapy namely CAR-T cell provides better therapeutic outcome. Furthermore, research activities in this area contributes to the overall market growth during the forecast period.
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By Product Segment (2016–2026; US$ Bn)
- Monoclonal Antibodies
- Blood & Blood components
- Cellular & Gene Therapy
By Disease Segment (2016–2026; US$ Bn)
- Breast Cancer
- Ovarian Cancer\
- Non-Hodgkin Lymphoma
- Prostate Cancer
- Colorectal Cancer
- Others (Bladder Cancer, Lung Cancer, etc.)
- Systemic Sclerosis
- Crohn’s Disease
- Rheumatoid arthritis
- Systemic Lupus Erythematous
- Others (Sjogren’s syndrome, multiple sclerosis, pernicious anemia, etc.)
- Infectious diseases
- Others (cardiovascular diseases, ophthalmic conditions, dermatological diseases, etc.)
By Geography Segment (2016–2026; US$ Mn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America