WESTFORD, Mass., July 18, 2024 /PRNewswire/ -- According to
SkyQuest, the global Biologics Market size was valued at
USD 462 Billion in 2022 and is poised
to grow from USD 510.05 Billion in
2023 to USD 1125.55 Billion by 2031,
at a CAGR of 10.40% during the forecast period (2024-2031).
Biomedicine has revolutionized treatment, offering targeted and
personalized approaches to patients. It is widely used in treating
chronic diseases like cancer, immune system and infectious
diseases. The market aims to develop and distribute
biopharmaceuticals that improve disease control and improve quality
of life. The growth factors of the biologics market are the
increasing prevalence of chronic diseases across the globe. The
increasing incidence of diseases such as cancer, diabetes and
arthritis has increased the demand for biopharmaceuticals.
The global biologics market plays an important role in the
development of new therapies for various diseases. It aims to
improve patient outcomes and improve quality of life. While there
are driving forces such as the increasing incidence of chronic
diseases and advances in biotechnology, there are also inhibiting
factors such as high costs and product development though.
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overview:
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Biologics Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
USD 510.05
Billion
|
Estimated Value by
2031
|
USD 1125.55
Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 10.40%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Product, Source,
Application, Disease, Manufacturing and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Rising Focus on
Personalized Medicine
|
Key Market
Drivers
|
Increasing Prevalence
of Cancer
|
Segments covered in Biologics Market are as
follows:
- Product
- Monoclonal Antibodies, Vaccines, Recombinant Growth Factors,
Recombinant Proteins, Recombinant Hormones, Recombinant Enzymes,
Synthetic Immunomodulators, Antisense & RNAi,
Therapeutics, and Other
- Source
- Microbial, Mammalian, and Others
- Application
- Diagnostic, Therapeutic, Protein Purification, and Others
- Disease
- Oncology, Cardiovascular, Immunological Diseases, Infectious
Diseases, Metabolic Diseases, Hematological diseases, Others
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Microbial Segment: Dominating the Biologics Industry Due to
Extensive Use of Microbial Expression Models
By 2023, the microbial segment will hold the largest market
share of 58.23% in the biologics market. Most of the approved drugs
available today are developed using the microbial expression
models. Key factors such as hematopoietic growth factor,
recombinant insulin, granulocyte-macrophage colony-stimulating
factor, and recombinant interferon are produced through microbial
expression systems.
The mammalian expression systems segment is expected to show
significant growth during the forecast period. These expression
systems are mainly used for the development of the recombinant
proteins and vector-based vaccines.
In-House Segment Dominating the Biologics Market Due to
Enabling Daily Monitoring
By 2023, the in-house segment dominated the biologics market
with a share of 84.87%. Compared to small molecules,
biopharmaceuticals are more complex, involving the use of live
microbial cultures and compliance with stringent regulations. For
in-house production they gain the advantage of direct monitoring,
allowing for better daily monitoring of biopharmaceuticals.
The outsourcing segment is estimated to grow at a compound annual
growth rate (CAGR) of 10.7% during the forecast period. Contract
development organizations (CDMOs) such as WuXi Biologics, Lonza,
Samsung Biologics have established state-of-the-art biological
production centers. These CDMOs provide companies with access to
manufacturing experts, ensuring success in underwater systems and
using new technologies. The center will provide an end-to-end
bioscience development strategy including product development,
quality control and manufacturing.
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Biologics Market: Transforming the Landscape of Modern
Medicine
With the promise of advanced treatment and personalized
medicine, the market is set to revolutionize medicine. Vendors
invest heavily in R&D to develop the new generics and
biosimilars and ensure sustainable treatment innovations. Strategic
partnerships, mergers and acquisitions are further strengthening
the market, increasing the reach and capacity of these
life-changing therapies.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
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Skyquest Technology
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