Global Biologics Market to Reach USD 712.29 Billion by 2031 | CAGR of 8.2%
Category : Healthcare | Published Date : Nov 2024 | Type : Press Release
Biologics Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Biologics Market size was valued at USD 410.59 Billion in 2023 and is projected to reach USD 712.29 Billion by 2031, growing at a CAGR of 8.2% from 2024 to 2031. Biologics refer to a broad category of medical products derived from living organisms, including vaccines, monoclonal antibodies, cell therapy, and gene therapy. These products are more complex than traditional small-molecule drugs and are revolutionizing the treatment of chronic diseases such as cancer, autoimmune disorders, and cardiovascular diseases.
The report comprises the Biologics Market Share, Size & Industry Analysis, By Product Type (Monoclonal Antibodies (mAbs), Vaccines, Cell Therapy, Gene Therapy, Recombinant Proteins, Tissue-Based Products, Others), By Source (Microbial, Mammalian, Others), By Manufacturing Type (In-House Manufacturing, Outsourced Manufacturing), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Application (Oncology, Immunology, Cardiovascular Diseases, Infectious Diseases, Neurology, Ophthalmology, Rare Diseases, Others), By End-User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research Organizations, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Biologics Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing prevalence of chronic diseases and growing demand for personalized medicine are key drivers, while manufacturing complexities and high production costs may restrain market growth.
Segmental Analysis :
By product type, the market is segmented into monoclonal antibodies (mAbs), vaccines, cell therapy, gene therapy, recombinant proteins, tissue-based products, and others.
- Monoclonal antibodies (mAbs) held the largest market share in 2023, driven by their increasing application in oncology and autoimmune diseases. mAbs such as Rituximab and Trastuzumab have transformed cancer treatment.
- Vaccines are expected to witness the fastest CAGR during the forecast period, driven by innovations such as mRNA vaccines and the global focus on pandemic preparedness.
By source, the market is segmented into microbial, mammalian, and others.
- Microbial-based biologics dominated the market in 2023, driven by the production of vaccines and recombinant proteins using bacteria and yeast systems.
- Mammalian-based biologics are expected to grow at the fastest rate, driven by their ability to produce complex proteins for therapies like monoclonal antibodies and cell therapies.
By manufacturing type, the market is segmented into in-house manufacturing and outsourced manufacturing.
- In-house manufacturing accounted for the largest market share in 2023, allowing companies greater control over production quality and costs.
- Outsourced manufacturing is expected to register the fastest growth, driven by the increasing use of contract manufacturing organizations (CMOs) to meet growing demand.
By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
- Hospital pharmacies held the largest share in 2023, driven by the increasing use of biologics for chronic and complex diseases.
- Online pharmacies are expected to grow at the fastest rate due to the convenience of home delivery and the integration of telemedicine services.
By application, the market is segmented into oncology, immunology, cardiovascular diseases, infectious diseases, neurology, ophthalmology, rare diseases, and others.
- Oncology accounted for the largest market share in 2023, driven by the high demand for biologics such as immune checkpoint inhibitors and CAR-T therapies.
- Cardiovascular diseases are expected to witness the fastest growth, driven by the development of new biologics targeting heart failure and atherosclerosis.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America held the largest market share in 2023, driven by strong healthcare infrastructure and significant investments in biopharmaceutical R&D.
- Asia-Pacific is projected to grow at the fastest rate, driven by increasing healthcare expenditures and expanding biopharmaceutical industries in countries like China and India.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 712.29 Billion |
| CAGR (2024-2031) | 8.2% |
| By Product Type | mAbs, Vaccines, Cell Therapy, Gene Therapy, Recombinant Proteins, Tissue-Based Products, Others |
| By Source | Microbial, Mammalian, Others |
| By Manufacturing Type | In-House Manufacturing, Outsourced Manufacturing |
| By Distribution Channel | Hospital Pharmacies, Retail Pharmacies, Online Pharmacies |
| By Application | Oncology, Immunology, Cardiovascular Diseases, Infectious Diseases, Neurology, Ophthalmology, Rare Diseases, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The biologics market is competitive, with leading pharmaceutical companies focusing on new product developments and strategic collaborations.
List of prominent players in the Biologics Industry:
- Pfizer Inc. (USA)
- Roche Holding AG Ltd. (Switzerland)
- Johnson & Johnson, Inc. (USA)
- Bristol-Myers Squibb Company (USA)
- Eli Lilly and Company (USA)
- AbbVie Inc. (USA)
- Amgen Inc. (USA)
- Novartis AG (Switzerland)
- Merck & Co., Inc. (USA)
- Sanofi S.A. (France)
Recent Industry Developments :
- In July 2024, Evotec SE strengthened its partnership with Sandoz for the long-term commercial supply of biosimilars.
- In June 2024, AstraZeneca announced its acquisition of Fusion Pharmaceuticals for USD 2.41 billion, aiming to expand its biologics portfolio.
