Big Growth Ahead: Biologic Drugs Market to Hit $823.4 Billion by 2028, Reveals BCC Research

Biologic Therapeutic Drugs: Technologies and Global Markets refers to a report that looks at treatments made from living substances and examines how they're developed and sold worldwide.

April 18, 2024

Boston: “According to the latest research study, the demand for Biologic Therapeutic Drugs: Technologies and Global Markets expected to grow from $452.9 in 2023 to reach $823.4 billion by the end of 2028 at a compound annual growth rate (CAGR) of 12.7% during the forecast period of 2023-2028.”

This report examines the biologics market, describing its current state and future possibilities. It looks at important factors such as competition, regulations, what's driving the market, and trends, predicting trends until 2028. The market is analyzed by types of products, what they're used for, and where they come from, like therapeutic proteins and cancer treatments sourced from humans, animals, or micro-organisms. It also looks at where these things are happening, such as in North America, Europe, and Asia-Pacific. The estimates are based on 2022 data, with forecasts up to 2028, providing useful insights for stakeholders.

Biologics are produced from various sources, including fermented cells and transgenic plant cells. Cell and gene therapy are vital in modern biologic manufacturing. The United States leads globally in utilizing biologics to treat a wide range of diseases, whether they're rare or chronic.

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Main Factors Powering Biologic Therapeutic Drugs: Technologies and Global Markets:

• Rising Prevalence of Chronic Diseases: More and more people are getting stuck with long-term health problems like heart disease, diabetes, and some cancers, and it's happening a lot everywhere.

• Advancement in Biologics: means getting better at making and using medicines from living things. This includes finding new ways to make them, understanding how they work in our bodies, and discovering new treatments for different diseases.

• Development in Cell and Gene Therapy Methodology: means getting better at treating diseases by fixing or changing genes or cells inside the body. This includes finding new ways to give gene therapy, change genes, and control cells to fight specific diseases. These improvements offer hope for treating many different conditions, like genetic disorders and some types of cancer.

• Increase in Infectious and Chronic Diseases: means that more people are getting sick with contagious diseases like the flu or COVID-19, as well as long-term health issues like diabetes or heart disease. This uptick in illnesses could be because of things like changes in how we live, the environment, or not having enough access to healthcare.

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Report Synopsis       

Report Segmentation: Understanding Biologic Drugs: How They're Divided in Global Markets:

• Product : When it comes to products, they’re talking about different kinds of treatments. These include therapeutic proteins, vaccines, cell and gene therapy, and some other options.
• Application: In terms of application, these treatments are used for various purposes. This includes treating cancer, autoimmune conditions, aesthetic procedures, eye disorders, and some other uses.
• Source: In terms of where these treatments come from, they can be sourced from humans, animals, micro-organisms, fermented cells, or sometimes from other sources.

This report gives a detailed look at biologic drugs, including how they're made and sold worldwide. It provides thorough analysis and answers important questions:

1. What is the projected market size and growth rate of the market?

• The market is projected to grow from $419.0 billion in 2022 to $823.4 billion in 2028, at a compound annual growth rate (CAGR) of 12.7% during the forecast period.

2. What are the key factors driving the growth of the market?

• The key factors driving the growth of the Global Market of Research Antibodies
• Rising Prevalence of Chronic Diseases
• Advancement in Biologics
• Development in Cell and Gene Therapy Methodology
• Increase in Infectious and Chronic Diseases.

3. What segments are covered in the market?

• The Global Market of Research Antibodies is segmented based on
• Application
• Source
• Product

4. By product, which segment will dominate the market by the end of 2028?

• By product, Therapeutic Proteins segment is anticipated to dominate the market by the end of 2028.

5. Which region has the highest market share in the market?

• North America holds the highest market share in the market in terms of region.

Some of the Key Market Players Are:

• ABBVIE INC.
• AMGEN INC.
• BAXTER
• BOEHRINGER INGELHEIM INTERNATIONAL GMBH
• CSL LTD.
• DENDREON PHARMACEUTICALS LLC.
• Eli Lilly and Co.
• F. HOFFMANN-LA ROCHE LTD.
• GLAXOSMITHKLINE PLC
• GLYCOTOPE GMBH
• GRIFOLS S.A.
• JSC PHARMSTANDARD
• KEDRION S.P.A.
• LONZA
• MERCK & CO. INC.
• NOVARTIS AG
• OCTAPHARMA AG
• RELIANCE LIFE SCIENCES
• SANOFI
• TEVA PHARMACEUTICAL INDUSTRIES LTD.

Browse for more related reports:

Global Markets for Research Antibodies: is about the worldwide sale of antibodies used by scientists to study proteins and other molecules in living things. These antibodies help researchers in fields like biology, medicine, and biotechnology understand how things work in our bodies.

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Biologic Therapeutic Drugs: Technologies and Global Markets( BIO079E )
Publish Date: Jan 2024    

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