Dublin, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The "Biologics Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The biologics market consists of sales of biologics and related services by entities that produce biologics or biosimilars to treat and prevent various microbial diseases and cancers.
The global biologics market reached a value of nearly $269,152.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 12.6% since 2015. The market is expected to decline from $269,152.8 million in 2019 to $239,168.6 million in 2020 at a rate of -11.1%.
The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 14.7% from 2021 and reach $464,604.9 million in 2023. The market is expected to reach $610,253.2 million in 2025, and $1,234,925.6 million in 2030.
Growth in the historic period resulted from aging population, government initiatives, ability to command high prices, and increased need for immunology. Factors that negatively affected growth in the historic period were pricing pressures from regulators, and lack of awareness on biosimilars among primary care physicians and specialists.
Going forward, increase in funding, technological advances, increase in healthcare access, robust research and development activities for development of oral biologics, and lean towards pills over injections will drive the growth. Factors that could hinder the growth of the biologics market in the future include high stringency and low turnover for clinical trials, stringent regulations related to biosimilar approvals, prolonged production and approval time, and nomenclature challenges.
Asia Pacific was the largest region in the global biologics market, accounting for 53.1% of the total in 2019. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the biologics market will be Asia Pacific, and Africa, where growth will be at CAGRs of 19.7% and 17.9% respectively. These will be followed by South America, and the Middle East, where the markets are expected to grow at CAGRs of 16.5% and 15.0% respectively.
To take advantage of the opportunities, the publisher recommends the biologics companies to focus on research & development, use of large molecules, focus on drug development for complex diseases, expand in emerging markets, set up authorized distributors and sales representatives, leverage online pharmacies, targeting local pharmacies to spread awareness, provide competitively priced offerings in low-income countries to reach new users, skimmed pricing for innovative drugs, direct-to-customer (DTC) advertising, participate in trade shows and events, increased requirement of R&D scientists.
Key Topics Covered:
1. Biologics Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6.1. Segmentation by Geography
6.2. Biologics Market Segmentation by Type
6.2.1. Monoclonal Antibodies (MAbS) Segmentation by Type
6.2.2. Therapeutic Proteins Segmentation by Type
6.2.3. Vaccines Segmentation by Type
6.3. Biologics Market Segmentation by Route of Administration
6.4. Biologics Market Segmentation by Mode of Purchase
6.5. Biologics Market Segmentation by Distribution Channel
7. Biologics Market Characteristics
7.1. Market Definition
7.2. Segmentation by Type
7.2.1. Therapeutic Proteins
7.2.2. Monoclonal Antibodies ((MAbS)
7.3. Market Segmentation by Route of Administration
7.3.2. Others (IV and IP)
7.4. Market Segmentation by Drug Classification
7.4.1. Branded Drugs
7.4.2. Generic Drugs
7.5. Market Segmentation by Mode of Purchase
7.5.1. Prescription Drugs
7.5.2. Over-The-Counter (OTC) Drugs
7.6. Market Segmentation by Distribution Channel
7.6.1. Hospital Pharmacies
7.6.2. Retail Pharmacies
7.6.3. Online Pharmacies
8. Biologics Market, Supply Chain Analysis
8.1. Raw Material Suppliers
8.2. Research and Development
8.2.1. Clinical Studies
8.2.2. Contract Research Organization (CRO)
8.3. Biologics Manufacturing
8.3.1. Contract Manufacturing Organization (CMO)
8.4.3. End Users
9. Biologics Market Product Analysis - Product Examples
10. Biologics Market Customer Information
10.1. Awareness of The Patients For Biosimilars and Biologics
10.2. Perception On The Adoption of Biosimilars
10.3. Patients' Preference For Biosimilar Over Biologics
10.4. Preference For Influenza Vaccines With Fewer Side Effects
10.5. Hesitance of Patients Towards Immunization Vaccines Due To Its Side Effects
11. Biologics Market Trends and Strategies
11.1. Revised FDA Regulations To Facilitate Biologics Drug Development
11.2. Higher Profit Margins For Biologics
11.3. Shift From Small Molecules To Biologics
11.4. Robust Research & Development
11.5. Demand For Biologics in The Treatment of Complex Diseases
12. Impact of COVID-19 On Biologics Market
12.1. Impact On R&D Funding
12.2. Impact On Supply Chain
13. Global Biologics Market Size and Growth
13.1. Market Size
13.2. Historic Market Growth, 2015-2019, Value ($ Million)
13.3. Forecast Market Growth, 2019-2023, 2025F, 2030F Value ($ Million)
F. Hoffmann-La Roche AG
Merck & Co., Inc.
Johnson & Johnson
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