Monoclonal Antibodies followed by Recombinant Hormones and Proteins will be attaining sustainable market growth in global biologics market

Date: 1 March 2020

According to a research report published by Azoth Analytics in February 2020, the Global Biologics Market was valued at USD 281.69 billion in the year 2019. Growing development of pipeline products and rapid economic growth with rising prevalence of chronic diseases and surging demand for low cost biologics and medical services will be accelerating the biologics market growth. All prominent pharmaceutical companies around the world are making their own efforts to deliver biologics which could meet the demand of productive, efficient and inexpensive medicine for various chronic untreatable diseases. Furthermore, efficacy and safety of biologics medicine, in addition to having a capacity to treat previously grave diseases, is one of the key driving factors which is anticipated to propel the market value in forecast period.

The Azoth Analytics research report titled GlobalBiologics Market has analysed and segmented the Biologics Market By Product Type (Vaccines, Monoclonal Antibodies, Recombinant Hormones/Proteins, Cellular & Gene based, Others), By Application (Cancer, Rare and Auto-immune Diseases, Infectious Diseases, Others) and By End User (Hospitals, Clinics, Diagnostic Centers, Others). The Global Biologics Market has been analysed By Region (North America, Europe, Asia Pacific) and By Country (United States, Canada, Germany, France, UK, Italy, China, Japan, India, South Korea) for the forecast period of 2020-2025.

Global Biologics market will be majorly driven by growing presence of a number of manufacturers which are constantly engaged in developing key medicines and technologies in order to provide cost friendly procedures to hospitals and clinics coupled with ever surging number of cancer patients and growing number of collaboration between different government organizations to provide educational, innovative and developmental new approaches. 

Under the product type segment, Monoclonal Antibodies followed by Recombinant Hormones and Proteins will be attaining sustainable market growth owing to wide availability and development of medicines and technology that helps in biologics supported by availability of proficient and cost-effective manufacturing process will be facilitating the market growth during the forecasting period.

Cancer and Hospitals secured considerable market growth under their respective segments, owing to escalating investment by hospitals in providing treatment for some long-term medical conditions, including rheumatoid arthritis, Crohn's disease, psoriasis and ankylosing spondylitis and ever growing number of patients who are suffering from cancer. All these factors are likely to supplement the market growth in the coming years.

Among the regions, North America attained sustainable market growth followed by Europe and Asia Pacific. Rising prevalence of chronic diseases such as cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases in North America clubbed with growing investment by various global manufacturers in North America in order to attract the market growth has been forecasted to boost the biologics market growth during the forecast period of 2020-2025.