Global Biologics Market - By Type, By Route Of Administration, By Drug Classification, By Mode Of Purchase, By Distribution Channel, And By Region, Opportunities And Strategies – Global Forecast To 2023
The Business Research Company?s Biologics Market Report - Opportunities And Strategies - Global Forecast To 2023
LONDON, GREATER LONDON , UK, May 19, 2021 /EINPresswire.com/ -- Technology is expected to be a continued driver of biologics market growth during this period. An area of particular development is likely to be physiology simulation modeling. Markets such as this one will benefit from the greater efficiencies offered by developments in this area. For example, Eli Lilly and Pfizer have adopted Amazon?s Elastic Compute Cloud (EC2) platform to conduct simulation models in early drug discovery that have been operational within hours, whereas traditional models would have taken weeks to conduct simulations. The Open Innovation Drug Discovery program is another initiative by Lilly to enhance the research and development of biologics. Such technological advances are likely to reduce costs and expedite the development phase of biologics, allowing companies to launch their products early.
The biologics market consists of sales of biologics and related services by entities (organizations, sole traders and partnerships) that produce biologics to treat and prevent various microbial diseases and cancers. Biological products include a wide range of products such as vaccines, allergenics, somatic cells, tissues, and recombinant therapeutic proteins. This industry includes establishments that produce products that are composed of sugars, proteins, nucleic acids, and combination of all these substances isolated from humans, animal and microorganisms or produced from biotechnology methods. Specifically, most biologic medicines are developed using recombinant DNA (rDNA) technology.
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The global biologics market size is expected to grow from $253.41 billion in 2020 to $268.51 billion in 2021 at a compound annual growth rate (CAGR) of 6%. Biologics market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $420.55 billion in 2025 at a CAGR of 12%.
North America is the largest region in the global biologics market, accounting for 53% of the market in 2020. Asia Pacific is the second largest region, accounting for 21% of the global biologics market. Africa has the smallest biologics market share.
The major players covered in the global biologics market are Johnson & Johnson, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb, GlaxoSmithKline Plc., AbbVie.
The global biologics market is segmented by type into monoclonal antibodies (MAbs), therapeutic proteins, vaccines, by distribution channel into hospital pharmacies, retail pharmacies/ drug stores, others, by route of administration into oral, parenteral, others, by drug classification into branded drugs, generic drugs, and by mode of purchase into prescription-based drugs, over-the-counter drugs.
Subsegments covered are anti-cancer MAbs, immunological MAbs, anti-infective monoclonal antibodies (MAbs), neuropharmacological MAbs, cardiovascular and cerebrovascular MAbs, other monoclonal antibodies, metabolic disorders therapeutic proteins, cancer therapeutic proteins, cardiovascular therapeutic proteins, immunological therapeutic proteins, other therapeutic proteins, anti-infective vaccines, autoimmunity vaccines, other vaccines.
Global Biologics Market - By Type (Monoclonal Antibodies, Therapeutic Proteins, Vaccines), By Route Of Administration (Oral, Others (IV or IP)), By Drug Classification (Branded Drugs, Generic Drugs), By Mode Of Purchase (Prescription Drugs, OTC Drugs), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), And By Region, Opportunities And Strategies ? Global Forecast To 2023 is one of a series of new reports from The Business Research Company that provides biologics global market overview, forecast biologics global market size and growth for the whole market, biologics global market segments, and geographies, biologics global market trends, biologics global market drivers, restraints, leading competitors? revenues, profiles, and market shares.
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