Biologics- Let’s Talk About a Healthier Tomorrow

The biologics market was valued at US$328.617 billion in 2020 and will increase to US$735.219 billion by 2027. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 12.19%.

Biologics, commonly referred to as biological medications, are disease-modifying antirheumatic drugs that are manufactured from live organisms or contain living species components. Vaccines, blood, blood components, cells, genes, tissues, allergies, and recombinant proteins are among the products derived from living beings, animals, birds, insects, plants, and microorganisms. These products regulate the development of essential proteins, alter human hormones and cells, and produce compounds that either stimulate or suppress the immune system. They also alter the way basic biologics intracellular & cellular activities function. Biologics have exploded in popularity in recent years because they are used to treat a wide range of diseases and ailments, including Crohn's disease, ulcerative colitis, rheumatic diseases, and other autoimmune diseases.

According to analysts, the increasing demand for biologics owing to increasing chronic diseases will be the driving force behind the market's robust growth over the forecasted timeframe

The escalating incidence of chronic conditions such as cancer, diabetes, asthma, tumor, auto-immune disease, and others is one of the primary factors driving market expansion. Biological therapies are in higher demand as the number of cases of chronic disease rises. Chronic illnesses kill well over 41 million people each year, according to World Health Organization estimates from 2018. The most common chronic disease, cardiovascular disease, affects 17.9 million people per year, followed by cancer (9 million), respiratory disorders (3.9 million), then diabetes (3.9 million) (1.6 million). Eighty percent of all chronic disease deaths are caused by these four groups. Non-communicable diseases are caused by tobacco use, lack of physical activity, alcohol intake, and bad diets.

Furthermore, the growing geriatric population makes people more vulnerable to chronic diseases, which serves to drive up biologics demand. Additionally, the global biologics market is growing due to a surge in vaccine production for Covid-19, Malaria, Dengue, and Chikungunya immunization. For example, the National Research Council of Canada and CanSino Biologics, a company located in China, worked on the drug trials of a COVID-19 vaccine in Canada in May 2020. Ad5-nCoV is a vaccine based on an adenovirus Type 5 vector that is now under Phase-2 testing in Wuhan, China. As a result, the biologics market is likely to rise shortly due to extensive research and development activity on biologics for the treatment of COVID-19.

Furthermore, the industry is being driven by increasing capital investment from key market players. Bristol-Myers Squibb, for example, committed approximately US$ 900 million to a large-scale biologics plant in Ireland, which was set to open in 2019.

Biologics’ market expansion could be hindered by high costs during the projected period

Because biologics are heat and light sensitive, they require cold weather or temperature strategy, which is not uniform over the world. It has the potential to act as a biologics market limitation. Furthermore, due to high costs and a lack of reimbursement for biologics, middle-to-low-income countries such as India, Bangladesh, Brazil, Argentina, as well as several European countries have insufficient access to biologics. As a result, the biologics market is likely to be hampered by the lower accessibility and affordability of biologics in medium and lower income nations over the forecast period.

During the forecasted time frame, the monoclonal antibodies segment in the Biologics market is predicted to have a dominating share

Due to the increased use of such a class of pharmaceuticals in several therapeutic areas, monoclonal antibodies (MABs) held the largest market share with a major revenue share. MABs allow problematic cells to be targeted without hurting good cells. Furthermore, these medications are particularly beneficial in the treatment of cancer and autoimmune illnesses, such as rheumatoid arthritis. The key drivers are an increase in genomics R&D activity, as well as the introduction of technologically improved genetic platforms, like next-generation sequencing. Furthermore, the aforementioned technology's low cost makes it an attractive option for conducting research studies to generate mAbs. These are well-known biologics that are likely to provide significant potential for pharmaceutical companies over the projected timeframe.

The oncology segment is expected to grow rapidly in the Biologics market

The rising number of cancer-related mortality worldwide, as well as increased research and development in cancer treatment, are expected to propel the biologics market for oncology forward in the future. In addition, the fact that biologics treatment has fewer side effects than standard radiation & chemotherapies in some types of tumors is a major reason to expect biologics to increase in the oncology industry. Furthermore, as technology advances, several biological treatments are now available to treat a variety of tumors, which could be another key driver of future biologics market growth in the oncology segment.

During the forecast period, the Biologics market in North America is predicted to have a dominating share

The Biologics market is classified into five regions based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The worldwide biologics market has been led by North America, and this trend is expected to continue over the forecast period. Increased prevalence of chronic diseases, the existence of well-established pharmaceutical corporations, and growth in the number of biotech companies are the key factors driving the industry. For example, in March 2020, Kaiser Permanente Washington Health Research Institute in Seattle initiated a Phase 1 clinical trial to assess an investigational vaccination designed to protect against COVID-19. Scientists from the National Institute of Allergy and Infectious Diseases and its collaborators at the biotech firm Moderna Inc. are working on the vaccine. According to the American Cancer Society, there were approximately 1,735,350 new cancer cases diagnosed and 609,640 cancer deaths in the United States in 2018. Lung cancer, breast cancer, prostate cancer, colorectum cancer, bladder cancer, and skin cancer are the most frequent cancers in the United States. Biocon Biologics India, a completely integrated biologics company as well as a subsidiary of Biocon Ltd, alongside Mylan NV announced the launch of Semglee in the United States in August 2020. As a consequence, all of these traits have been identified as being beneficial to the region's overall market growth.

Covid-19 Insights

COVID-19 had a minor impact on the market. The virus's widespread outbreak and exponential proliferation among the population prompted a statewide lockdown and the consolidation of clinics and hospitals into COVID-19 wards. The diagnosis & testing of several chronic diseases has been temporarily halted to focus on the COVID-19 virus's testing and treatment. Furthermore, in the event of a non-emergency crisis, people avoided leaving the house, particularly while visiting hospitals and clinics. As a result, fewer chronic disease potential cases, notably in oncology and neurology, were diagnosed than projected, resulting in lower rising demand for their biologicals. Moreover, during the propagation of the COVID-19 virus, supply chain limitations and raw material availability impeded the market's capacity to reach its full potential.


Popular posts from this blog

A Complete Study On Global Glass Packaging Market

Asia Pacific Flexible Packaging Market - Segmented by Application, Products, and Geography - Forecasts till 2024

A Comprehensive Study On Global Low Density Polyethylene Packaging Market