The Biologics Market Share, Market Size, And Growth Rate 2022
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The biologics market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 9%, as per The Business Research Company’s market report!
Read More On The Biologics Market Report 2022 – https://www.thebusinessresearchcompany.com/report/biologics-global-market-report
The Biologics Market Size In 2022 And Forecast
The global biologics market is expected to grow from $338.45 billion in 2021 to $382.04 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The growth in the biologics market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biologics market is expected to reach $540.66 billion in 2026 at a CAGR of 9.1%.
The biologics market consists of sales of biologics and related services by entities (organizations, sole traders and partnerships) that produce biologics to treat and prevent various microbial diseases and cancers.
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Technological Development Is Driving The Growth Of The Biologics Market
For example, Eli Lilly and Pfizer have adopted Amazon’s Elastic Compute Cloud (EC2) platform to conduct simulation models in early drug discovery that have been operational within hours, whereas traditional models would have taken weeks to conduct simulations. The Open Innovation Drug Discovery program is another initiative by Lilly to enhance the research and development of biologics. Such technological advances are likely to reduce costs and expedite the development phase of biologics, allowing companies to launch their products early.
Competitive Landscape And The Regional Analysis Of The Biologics Market
Major players in the biologics market are AbbVie, Johnson & Johnson, Amgen, Sanofi S.A, F. Hoffmann-La Roche Ltd., GlaxosmithKline, Novartis AG, Pfizer Inc., Teva Pharmaceuticals and CSL.
Additionally, as per TBRC’s research – North America was the largest region in the biologics market in 2021 holding the largest market share and The Middle East is expected to be the fastest-growing region in the forecast period.
The Biologics Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the biologics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the biologics market.
The US Food And Drug Administration (FDA) – A Key Trend In The Biologics Market
Standard preparations (standard solutions containing a precisely known concentration of an element), which help to ensure safety, purity and potency of biologics can now be obtained from sources other than FDA’s Center for Biologics Evaluation and Research (CBER), or can be developed internally by the biologics license applicant. The FDA has also removed a rule (Section 610.21 of FDA code) which specifies minimal potency limits to be met for certain antibodies and antigens. In addition, FDA is also updating regulations (Section 610.53 of FDA code) regarding storage periods and storage conditions for biologics. These amendments in regulations are expected to increase regulatory flexibility by allowing the pharmaceutical industry and the FDA to incorporate current scientific technologies in the manufacture of licensed biological products.
Biologics Market Segmentation By The Business Research Company
1) By Type: Monoclonal Antibodies (MAbs), Therapeutic Proteins, Vaccines
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others
3) By Route of Administration: Oral, Parenteral, Others
4) By Drug Classification: Branded Drugs, Generic Drugs
5) By Mode of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs
Subsegments Covered: Anti-Cancer MAbS, Immunological MAbS, Anti-Infective Monoclonal Antibodies (MAbs), Neuropharmacological MABS, Cardiovascular And Cerebrovascular MAbS, Other Monoclonal Antibodies (MAbs), Metabolic Disorders Therapeutic Proteins, Cancer Therapeutic Proteins, Cardiovascular Therapeutic Proteins, Immunological Therapeutic Proteins, Other Therapeutic Proteins, Anti-Infective Vaccines, Autoimmunity Vaccines, Other Vaccines
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