Latest News- Biologic Therapeutics Market: Cancer is expected to lead the Application segment during 2024-2028

The Biologic Therapeutics Market is being driven by Introduction of biosimilars

The Biologic Therapeutics Market is expected to grow at a CAGR of 13.64% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 398.3 billion. Biologic therapeutics, which include monoclonal antibodies, vaccines, and therapeutic proteins, are gaining significant traction in the healthcare industry due to their efficacy in addressing severe infections, malignancies, and immunological and hormonal disorders. This trend is motivating manufacturers to invest heavily in research and development (R&D) for the creation of new biologics. One of the fastest-growing segments within biological therapies is monoclonal antibodies, with 153 approved or in review for various indications in the EU and US. Notable examples include TZIELD, BRIUMVI, and ELAHERE. Similarly, companies such as AbbVie and Amgen, as well as numerous research institutions, are actively engaged in the development of novel biologics through industrial collaborations. This burgeoning sector underscores the immense potential for innovation and growth in the biologics market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Cancer
  • Infectious diseases
  • Autoimmune diseases
  • Others
• Product
  • Antibody therapeutics
  • Vaccines
  • Cell therapy
  • Gene therapy
  • Others
• Source
  • Microbial
  • Mammalian
  • Microbial
  • Mammalian
• Geography
  • North America
    • US
  • Europe
    • France
    • Germany
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Introduction of biosimilars
• Increasing incidence of chronic diseases and immunological disorders
• Patent expiry of major biologics

However, the market also witnesses some limitations, which are as follows:

• High cost of biologics
• Issues related to entry of new biologics
• Reimbursement challenges of new biologics

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Market Scope in Biologic Therapeutics Market Research Report

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Research Analysis Overview

The Biologics Market encompasses a range of therapeutic modalities, including molecular therapies such as RNAi and antisense, recombinant proteins, vaccines, monoclonal antibodies (MAbs), and more. These advanced therapies offer new hope for the treatment of chronic diseases and non-communicable diseases (NCDs), including lung cancer, breast cancer, Parkinson's disease, and Alzheimer's disease. Molecular therapies like Tezepelumab for asthma and mRNA-based vaccines for COVID-19 are revolutionizing the healthcare landscape. Companies like CanSino Biologics are at the forefront of microbial-based biologic production, ensuring affordable and accessible treatments for patients. The Biologics Market faces stringent regulatory processes, ensuring safety and efficacy. The FDA's approval of Leqembi (lecanemab-irmb) for Alzheimer's disease marks a significant milestone in personalized medicine. Diagnostics play a crucial role in the Biologics Market, with companion diagnostics enabling precise treatment plans based on individual genetic profiles. Autoimmune diseases and genetic diseases are also targeted by biologic therapies, offering hope for millions of patients worldwide. According to Globocan, cancer remains a leading cause of death, underscoring the need for continued innovation in the Biologics Market. The future holds promise with ongoing research and development in this dynamic field.

Market Research Overview

The global pharmaceuticals market encompasses entities involved in the research and development (R&D) or manufacturing of various categories of drugs, including generics, non-generics, and veterinary medicines. According to Technavio, the healthcare industry's overall size is determined by the consolidated revenue generated by providers and manufacturers of medical equipment, consumables, pharmaceuticals, biotechnology, and life sciences tools and services. The expansion of the global pharmaceuticals market will be fueled by several key factors, such as the increasing aging population. By 2050, approximately one-quarter of the US population and Europe's population ratio is projected to be over 60 years old.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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