What’s Driving Growth in the Oral Biologics & Biosimilars Market? Insights into Key Trends and Opportunities
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How has the oral biologics & biosimilars market grown over the years?
The market for oral biologics and biosimilars has seen a significant surge in recent times. Its size is predicted to rise from $7.04 billion in 2024 to $8.69 billion within a year, with a 23.5% compound annual growth rate. The historical growth of this market can be linked back to an increase in partnerships and collaborations among market participants for shared insight, amplified need for immunology, rising demand due to affordable production procedures, an aging demographic, government-led initiatives, and the power to demand premium pricing.
What Is the forecasted market size and growth rate for the oral biologics & biosimilars market?
The machine control system market is projected to see a swift expansion in the upcoming years, reaching a size of $9.36 billion by 2029 with a compound annual growth rate (CAGR) of 11.1%. This anticipated growth during the forecast period is largely due to increasing demand for unmanned vehicles, the integration of 5G technology, the growing emphasis on cybersecurity, the worldwide expansion of e-commerce, and the implementation of smart city initiatives. Key emerging trends for the forecasted period consist of the shift towards cloud-based machine control solutions, incorporation of advanced analytics, the rising use of hybrid and electric machines, and the uptake of 3D printing.
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What are the major factors driving growth in the oral biologics & biosimilars market?
The growth of the oral biologics and biosimilar market is anticipated to be driven by the escalating incidence of chronic diseases such as arthritis, asthma, and cancer. Factors like extended work hours, insufficient physical exercise, and unhealthy consumption habits contribute to the occurrence of these chronic illnesses. Biologics, due to their ability to boost the immune system against cancer cells, work effectively in treating these diseases and assist the body’s defenses in eliminating the cells causing the disease. A US-based intergovernmental organization reported in a United Nations article that chronic diseases are projected to constitute 70% of all global deaths by 2030. The expectation is that chronic disease will be responsible for nearly 60% of all death instances worldwide. As such, the surge in chronic diseases is a key factor propelling the growth of the biologics and biosimilar market.
What key areas define the segmentation of the global oral biologics & biosimilars Market?
The oral biologics & biosimilars market covered in this report is segmented –
1) By Therapy: Lymphocyte Modulators, Interleukin Inhibitors, Tumor Necrosis Factor-Alpha Inhibitors, Immunostimulants, GPCR Modulators, Other Tharpies
2) By Disease: Diabetes, Arthritis and Crohn’s Disease, Cancer, Infectious Disease, Other Autoimmune Disease, Other Diseases
3) By Molecule Type: Vaccines, Proteins and Peptides, Monoclonal Antibodies, Other Molecule Types
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Subsegments:
1) By Lymphocyte Modulators: T-Cell Modulators, B-Cell Modulators, Sphingosine-1-Phosphate Receptor Modulators
2) By Interleukin Inhibitors: IL-1 Inhibitors, IL-6 Inhibitors, IL-17 Inhibitors, IL-23 Inhibitors
3) By Tumor Necrosis Factor-Alpha Inhibitors: TNF-a Blockers, Monoclonal Antibodies Targeting TNF-a
4) By Immunostimulants: Cytokines, Immune Checkpoint Inhibitors, Adjuvants
5) By GPCR Modulators: Agonists, Antagonists, Biased Ligands
6) By Other Therapies: Cell-Based Therapies, Gene Therapies, Combination Therapies
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What are the top market players propelling the growth of the oral biologics & biosimilars industry?
Major companies operating in the oral biologics & biosimilars market include Merck & Co. Inc., GlaxoSmithKline, Novo Nordisk, ALK-Abelló, Aimmune Therapeutics Inc., VIVUS Inc, Materia Medica Holding, VECTOR-MEDICA, Henlius, Innovent Biologics, Bio-Thera, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, Shanghai Fosun Pharmaceuticals, Biocon, Dr.Reddy’s, Mylan, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, AGC Biologics, BiosanaPharma, AstraZeneca, Bayer, Boehringer Ingelheim, Sanofi, Microgen, Geropharm, Valenta, NovaMedica, SynBio, Roche, Rani Therapeutics, Eli Lilly and Company, Emisphere Technologies Inc., Enteris BioPharma, Allena Pharmaceuticals, Abbvie, Johnson & Johnson, Pfizer Inc., Biogen Inc., Aché, Eurofarma, Teva Pharmaceuticals, Oramed Pharmaceuticals, Entera Bio, Julphar, Hikma Pharmaceuticals, Altis Biologics, Cipla Medpro South Africa, Genzyme
What are the key trends shaping the future of the oral biologics & biosimilars market?
The development of innovative insulin biosimilars is a significant growing trend in the oral biologics and biosimilar market. To grab a share of the market, key industry participants are concentrating their investments on developing biosimilar versions of insulin. For example, in January 2023, Amgen, a biotech company based in the United States, made significant headway in producing insulin biosimilars when they introduced Amjevita, a biosimilar to Humira. The aim of these advancements is to reduce costs and enhance the availability of essential remedies. Amjevita serves as a more affordable treatment alternative for diseases like arthritis and Crohn’s disease, making insulin biosimilars a more cost-effective and accessible treatment for diabetes. These strides are fueling competition and encouraging creativity in biotherapeutics. The corporation remains committed to the discovery, development, production, and distribution of innovative human therapeutics.
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What regions are dominating the oral biologics & biosimilars market growth?
North America was the largest region in the oral biologics and biosimilar drugs market in 2024. The Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the oral biologics & biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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