The global biologic therapeutics drugs market is expected to grow at a significant CAGR during the forecast period (2024-2031). The major factors contributing to the growth of the market include the rising prevalence of chronic disorders, including cancer, diabetes, and CVD. According to the World Health Organization (WHO), in 2020, the new cancer incidences reported was 19.3 million. Breast cancer was the most common cancer type in 2020 with almost 2.3 million cases, followed by lung cancer with 2.2 million cases, colon and rectum cancer with 1.9 million cases, prostate cancer with 1.4 million cases, and stomach cancer with 1.1 million cases.
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Additionally, the increase in the geriatric population is propelling the growth of the market. According to the World Population Prospects 2019, by United Nation Population Division, approximately 9.3% of the total population in 2019 was over 65 years of age. Moreover, the demand for innovative and advanced R&D approaches for the treatment of chronic diseases will boost the growth of the market. The rising geriatric population base is leading to an increased incidence of rheumatoid arthritis, which in turn, is accelerating the market growth.
Biological therapeutics is a field of research concerned with the development of medications and pharmaceutical products having biological origins. This field encompasses all pharmaceutical medication products made from semi-synthesized and biological sources. For rheumatoid arthritis, biological therapy targets the parts of the immune system that are triggering inflammation that causes joint and tissue damage. Some commonly used biological agents for the treatment of rheumatoid arthritis include SIMPONI ARIA (golimumab), REMICADE (infliximab), ACTEMRA (tocilizumab), ORENCIA (abatacept), RITUXAN (rituximab), and CIMZIA (certolizumab pegol). Some pipeline drugs have been witnessed, which is driving the market growth. For instance, in March 2021, Bicara Therapeutics launched a pipeline of dual-action biologics for cancer immunotherapy with a $40 million investment from Biocon Ltd. These pipeline drugs is offering an opportunity for market growth.
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Market Coverage
- Segment Covered-
o By Product
o By Application
- Competitive Landscape- Pfizer Inc., AstraZeneca Plc, Novartis International AG, Merck & Co., Inc, and GlaxoSmithKline Plc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Biologic Therapeutics Market – Segmentation
By Product
- Blood and Blood Products
- Vaccines
- Human Cells and Tissues
- Cellular Therapies
- Allergenic Extracts
- Gene Therapies
- Others
By Application
- Rheumatoid Arthritis
- Anemia
- Cancer
- Diabetes
- Others
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