The Future of theBiogas Market: Growth Trends, Market Size, and Opportunities to Watch
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of theBiologics Market?
The surge in personalized medicine needs is a significant factor propelling the expansion of the global biologics market. Personalized medicine, also identified as precision medicine, presents an approach in medical treatment that customizes health care based on each patient’s unique characteristics. This method provides the flexibility to modify biological therapies according to a patient’s distinct genetic and clinical profile, thereby revolutionizing the healthcare sector. For example, in February 2024, the Personalized Medicine Coalition, a healthcare and hospital organization based in the USA, reported that in 2023, the FDA sanctioned 16 new personalized treatments for patients with rare diseases, a considerable increase from just six in 2022. As such, the escalating need for personalized medicine contributes to the future development of the biologics market.
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#What is the Projected CAGR for the Biologics Market Size from 2025 to 2034?
Over the past few years, there has been a significant expansion in the size of the biologics market. It is forecasted to escalate from a value of $533.36 billion in 2024 to a staggering $610.25 billion in 2025, showing a compound annual growth rate (CAGR) of 14.4%. The notable growth in the historic period can be accredited to factors such as the aging population, governmental initiatives, the capacity to demand high prices, and an ascending necessity for immunology.
In the coming years, the biologics market is anticipated to experience a swift expansion, swelling to $1068.24 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 15.0%. The predicted growth within this forecast period can be associated with factors such as elevated funding, technological progression, improved healthcare availability, vigorous research and development initiatives for creating oral biologics, a trend towards using pills instead of injections, and a growing robust catalog of biologics. Throughout the forecast period, key trends are expected to include capitalizing on updated and less strict regulations for the creation of new and enhanced biologics, transitioning into biologic drug production, allocating funds into R&D for the conception of unique biologics, and investing in R&D for biologics intended for the treatment of intricate diseases.
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What Key Market Trends and Innovations Are Shaping the Future of theBiologics Industry?
Key businesses in the biologics sector are directing their efforts towards generating novel products, such as oncology biosimilars, in order to consolidate their market position and obtain a competitive edge. Oncology biosimilars are a class of biologic medication utilized for cancer treatment, bearing strong resemblance to the originator biologic drugs. For example, in May 2022, Biocon Biologics Limited – an arm of Biocon Limited (a biopharmaceutical firm from India), together with Viatris Inc. – a pharmaceutical entity from the United States, initiated the distribution of Abevmy, an oncology biosimilar, within the Canadian market. Abevmy, as a biosimilar drug, is employed for cancer treatment, closely mirroring the properties and functions of the original biological drugs which already have approval for use. These biosimilars are employed to address the same health conditions as the reference drugs and maintain identical safety and efficiency standards.
Which Companies Are Leading the Charge in Expanding theBiologics Market Growth?
Major companies operating in the biologics market include Merck & Co., Inc., AbbVie Inc., F. Hoffmann-La Roche AG, Johnson & Johnson, Pfizer Inc., Bristol Myers Squibb Company, Sanofi S.A., GlaxoSmithKline Plc., Eli Lilly and Company, Amgen Inc., Wockhardt, Zydus Cadilla, China Biologic Products Holdings Inc., ABLbio, Adimmune, Henlius, Innovent Biologics, Bio-Thera, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, Biocon, Dr.Reddy’s, Mylan, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, AGC Biologics, Tonghua Dongbao Pharmaceutical Co., China Regenerative Medicine International, Shanghai Fosun Pharmaceuticals, Bayer AG, Novartis AG, BiosanaPharma, WuXi, Teva UK Limited, AstraZeneca, Abbott Laboratories, Vectura Group, Fujifilm, Lonza, Seqens, Piramal Pharma Solutions, Corden Pharma, Procos SpA and BSP Pharmaceuticals., Microgen, Geropharm, Valenta, NovaMedica, SynBi, Rani Therapeutics, Enteris BioPharma, Allena Pharmaceuticals, Biogen Inc., Emisphere Technologies Inc., Biogen Inc., Apotex, Gilead Sciences
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How is the Global Biologics Market Segemented?
The biologics market covered in this report is segmented –
1) By Type: Monoclonal Antibodies (MAbS), Therapeutic Proteins, Vaccines
2) By Drug Classification: Branded Drugs, Generic Drugs
3) By Route Of Administration: Oral, Other Route Of Administration
4) By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies Or Drug Stores, Other Distribution Channels
Subsegments:
1) By Monoclonal Antibodies (MAbs): Naked Monoclonal Antibodies, Conjugated Monoclonal Antibodies, Bispecific Monoclonal Antibodies
2) By Therapeutic Proteins: Hormones, Enzymes, Cytokines, Fusion Proteins
3) By Vaccines: Live Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, mRNA Vaccines, Viral Vector Vaccines
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Which Geographics are Influencing the Growth of the Biologics Market?
North America was the largest region in the biologics market in 2024. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the biologics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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