Biologics Market: Current Analysis and Forecast (2022-2028)

Report Description

The Biologics Market was valued at USD 265 Bn in the year 2021 and is expected to grow with 9% CAGR during the forecasted year (2022-2028). Rise in clinical trial development for novel biological drugs such as synthetic vaccines, fusion proteins, and antisense RNAi. and their subsequent approvals are expected to drive market growth during the forecasting period. For instance, US-FDA in March 2021, approved idecabtagene vicleucel (brand name Abecma) a cell-based gene product for the treatment of an adult patient with multiple myeloma. Thus, clinical trial development for the novel biological product is anticipated to drive market growth in the forecasting period.

Some of the major players operating in the market include Amgen Inc., Eli Lilly and Company, and GSK plc. , AbbVie Inc., F. Hoffmann-La Roche Ltd, Sanofi, Pfizer Inc., Novartis Pharmaceuticals Corporation, Johnson & Johnson Services, Inc., Merck & Co., Inc.

Insights Presented in the Report

“Amongst product types, the vaccine segment is expected to witness significant market growth in 2021”

By product type, the market is segmented into monoclonal antibodies, interleukins, growth factors and gene therapy. The vaccine segment is expected to witness significant growth during the forecasting period.  This is attributed to the use of vaccines as preventive tools coupled with the rise in the burden of infectious diseases such as tuberculosis across the globe. For instance, as per the WHO report in 2022, around 10.6 million people were infected with tuberculosis in 2021. Amongst this, there were around 6 million men, 3.4 million women and approximately 1.2 million children. Thus, with rising prevalence of infectious diseases globally is anticipated to augment the demand for the vaccine.  

 “Amongst applications, the cancer segment is the fastest growing segment of the market in 2021”

By application, the market is segmented into diabetes, cancer, autoimmune, and tumor. Amongst these, the cancer segment would hold the dominating share during the forecasting period. This is because of increasing consumption of processed food & sugary beverages, sedentary lifestyle, obesity and increased alcohol consumption. For instance, according to World Health Organization (W.H.O.) report, in 2020, 7,40,000 new cancer cases due to alcohol consumption were registered. Amongst this oesophagus cancer holds the major share (25.6%) worldwide. Thus, the rising incidence of cancer due to a sedentary lifestyle is anticipated to fuel the market growth during the forecasting period.

 “North America dominated the biologics market in 2021”

North America dominated the biologics market in 2021. This is due to the presence of major players within the region, and investments by private companies in research & development. Furthermore, the market is driven by the rise in the geriatric population and the increased prevalence of chronic diseases within the region. For instance, according to the U.S. Census Bureau, more than 56 million adults ages 65 and older live in the United States, accounting for about 16.9% of the nation’s population. Moreover, favorable government initiatives and an increase in healthcare expenditure are propelling market growth. For instance, according to the Centre for Medicare & Medicaid Services (CMS), the national health expenditure (NHE) grew 2.7% to $4.3 trillion in 2021, or $12,914 per person, and accounted for 18.3% of the Gross Domestic Product (GDP). 

 Biologics Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global biologics market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Biologics Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global biologics market were the three major steps undertaken to create and analyze the adoption of biologics in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global biologics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the biologics market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the biologics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the biologics market. Further, we conducted factor analysis using dependent and independent variables such as product and application of the biologics market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the biologics market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global biologics market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the biologics market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global biologics market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global biologics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global biologics market.

The main objective of the Global Biologics Market Study

The current & future market trends of the global biologics market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the biologics market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the product and application
• Define and analysis of the regulatory framework for the biologics industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviours of the industry
• Analyze the current and forecast market size of the biologics market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the biologics market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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