Biologics Market Research Report - Forecast to 2023 Global Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
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Biologics Market Research Report - Forecast to 2023 Research Across Sectors to Give Impetus to Global Biologics Market 2023 • The Global Biologics Market is set to touch USD 285,520.4 million by 2023, according to Market Research Future (MRFR). It can achieve this benchmark at a CAGR of 6.95% over the forecast period (2018-2023). Presence of various chronic diseases is one of the primary drivers of the market. Rising awareness regarding the performance and efficacy of biologics is projected to boost market volume exponentially till 2023.The inflated healthcare expenditure of nations to combat acute diseases and improve the mortality rate is likely to trigger the demand for biologics. South Africa and UAE are prime instances of countries which have increased their healthcare budget to promote quality care in hospitals. Rapid urbanization and improvements in healthcare infrastructure are likely to influence market demand in the coming years. • Investments in R&D by pharmaceutical manufacturing companies to enhance the performance of biologics are likely to act as a catalyst in the market. Advances in biologics owing to emergence of personalized medicines and orphan drugs can bolster the biologics market volume considerably till 2023. But emergence of biosimilars owing to the patent expiration of various drugs can threaten the market growth.
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Biologics Market Research Report - Forecast to 2023 Segmentation: • By product, monoclonal antibody segment accounted for 33% share of the biologics market in 2017. It can reach a size of USD 92,597.4 million by 2023 at a CAGR of 3.44% during the forecast period. This can be credited to the increased use of monoclonal antibodies (mAbs) to enhance the immunity system of the body. Vaccines accounted for 21% of the market in 2017 but is touted to grow the fastest till 2023. It can exhibit 6.75% CAGR to reach USD 66,743.5 million by the end of the assessment period. • By disease indication, cancer had nearly 19.2% share of the biologics market in 2018. But the rheumatoid arthritis segment might dethrone its hold as lead contributor in the market by 2023. It can exhibit 8.78% CAGR over the forecast period owing to the rapid approval of various drugs by regulatory agencies. • Two major manufacturing methods in the biologics market include in-house and outsourced. The latter is predicted to grow at a rapid pace as compared to the former. This can be credited to presence of pharmaceutical companies in developing companies which can research formulations at a fractional price. The outsourced segment is bound to generate close to USD 112,162.4 million by 2023.
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Biologics Market Research Report - Forecast to 2023 Application & Major Players in this Research:
Biologics Market Prominent Players: Prominent players operating in the biologics market include AbbVie, Inc. (U.S.), AstraZeneca (U.K.), Pfizer Inc. (U.S.), Amgen (U.S.), Novartis AG (Switzerland), F. Hoffman-La Roche AG (Switzerland), Sanofi (France), Bayer AG (Germany), Eli Lilly and Company (U.S.), and GlaxoSmithKline Plc (U.K.). Five players control more than 70% of the market as of 2017, namely AbbVie, Roche, Pfizer, Amgen, and GSK. New product launches, expansions, and acquisitions are strategies used to increase the market share of these players. In 2018, AbbVie and Eisai collaborated to launch the HUMIRA pen, an autoinjector to dispel mAbs into the body.
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Biologics Market Research Report - Forecast to 2023 About Us: Market Research Future At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), ContinuousFeed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members. For more information kindly visit www.marketresearchfuture.com or contact us at info@marketresearchfuture.com Copyright Š 2018 Market Research Future All Rights Reserved. This document contains highly confidential information and is the sole property of Market Research Future. No part of it may be circulated, copied, quoted, or otherwise reproduced without the written approval of Market Research Future.
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