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Biologics Market 2019 Size, Growth, Share, Trends, Demand, Industry Forecast 2018 to 2023
Global Biologics Market Research Report: by Product (Monoclonal Antibody, Interleukins, Vaccines, Growth Factors, Gene Therapy, Others), by Disease Indication (Rheumatoid Arthritis, Psoriasis/Psoriatic Arthritis, Cancer, Diabetes, Others), by Manufacturing (In-house, Sourced), and Region - Forecast to 2023
Biologics Market – Overview
Biologic therapy is the use of drugs to treat a disease which is derived from any living organism. Forms of biological therapy that are used now a days include include monoclonal antibodies, cytokines, enzymes interferon, interleukin-2 (IL-2), and several types of colony- stimulating factors (CSF, GM-CSF, G-CSF).
The biologic therapy market is driven by growing research in biotechnology field, prevailing incidence of cancer, toxicity of chemically synthesized drug, increasing patient population, increasing funds in medical research.
The factors that restricting the market growth are regulatory policies, high cost of drug development, drug stability issues, side effects of biology therapy like flu-like symptoms such as chills, fever, muscle aches, weakness, loss of appetite, nausea, vomiting, and diarrhoea, rashes etc., liver enzyme abnormalities.
Global Biologic Market is Expected to Grow at a CAGR of 8.6% during Forecasted Period 2017-2023.
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Global Biologics Industry Competitive Analysis
The top players operating in the biologics market include Pfizer Inc. (U.S.), AbbVie, Inc. (U.S.), Novartis AG (Switzerland), AstraZeneca (U.K.), Bayer AG (Germany), F. Hoffman-La Roche AG (Switzerland), Sanofi (France), Amgen (U.S.), GlaxoSmithKline Plc (U.K.), Eli Lilly and Company (U.S.), and others.
Segments for Global Biologics Market
The global biologics market has been segmented on the basis of product, disease indication, and manufacturing.
By product, the biologics market is segmented into interleukins, monoclonal antibody, growth factors, vaccines, gene therapy, and others. Of these, the monoclonal antibody segment held 33% of the market share in 2017. The segment will surpass a valuation of USD 92,597.4 million by the end of 2023, registering a CAGR of 3.44% due to the rising use of monoclonal antibodies to improve the immunity system of the body.
By disease indication, the market is segmented into cancer, psoriasis/psoriatic arthritis, rheumatoid arthritis, diabetes, and others. Of these, cancer held 19.2% of the market share in 2018. Meanwhile, the rheumatoid arthritis segment is likely to gain prominence due to the rapid approval of several drugs by the regulatory agencies.
The manufacturing segment comprises sourced and in-house. Of these, the sourced segment will expand at a rapid pace due to the existence of pharmaceutical companies in developing nations, which can research formulations at a reasonable price.
Regional Analysis for Global Biologics Market
North America biologic therapy market is a growing market in the Americas region. On a regional basis, the Americas region is segmented into North America and South America. North America is segmented into U.S. and Canada. Increasing aging population leading to rise in patient population, rising prevalence of cancer are likely to enhance the growth of biologic therapy market in the North American region. Additionally, heavy research and development in biologic therapy sector, increasing number of health insurance coverage for serious diseases, growth in companies offering technologically advanced products to the customers and growing government initiative is pushing the growth of the market.
Europe is the second largest market and holds a noticeable share in the global biologic therapy market. The European market is expected to grow a strong growth during the forecast period owing to the availability of innovative and advanced treatment facilities, and rising skilled medical professionals.
Asia Pacific is expected to be the fastest growing market due to increasing prevalence cancer and other lifestyle induced disorders. China is the fastest growing region owing to its large older population, and rising patient population. Rising awareness about the health and availability of new treatment methods drive the market in this region.
The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and affordability of treatment facilities.
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