The Infinium Global Research analyzes the Biologics Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global biologics market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of biologics. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the biologics market during the period.
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Growing Prevalence of Cancer and Several Autoimmune Diseases is A Key Driver Facilitating the Growth of the Biologics Market
The growing prevalence of cancer and several autoimmune diseases is a key driver facilitating the growth of the biologics market. Moreover, a rise in incidence is also expected due to an increase in exposure to risk factors. This is expected to create potential demand for these drugs over the forecast period. Furthermore, increasing investments by the pharmaceutical giants in the biologics segment is also expected to fuel the expansion of the market. Several biologic drugs are in development and are expected to be launched in the coming years which will significantly aid the growth of the market. However, the high cost of the drugs remains a major hindrance factor for its large scale adoption. Nonetheless, increasing production is projected to lower the cost of these drugs in the long term.
Moreover, a surging number of biologic APIs and their growing penetration into multiple therapy areas such as asthma, dyslipidemia, and allergy will create multiple growth opportunities for the biologics market. The current concerns over the spread of coronavirus are expected to have a moderate impact on the growth of the biologics market as the sale of companies whose products rely heavily on elective and non-essential procedures are expected to be hurt censoriously. Additionally, these biologics are considered immunosuppressing because they work on different immune system pathways to curtail the inflammation that occurs in these chronic conditions, which can make patients more vulnerable to different kinds of infection. Thereby, lowering the administration of such drugs. However, the market will accelerate quickly over the end of 2020.
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North America Holds a Major Share in the Global Biological Drugs Market
Among the regions, North America holds a major share in the global biological drugs market. Growing technological advancements, favorable regulatory policies and increasing awareness about the biologics are the major factors that drive the growth of the North American biologics market. Moreover, the increasing prevalence of chronic illnesses such as cancer and diabetes are anticipated to boost the adoption of biologics in North America. Europe is anticipated to hold the second largest share owing to the presence of a large geriatric population in countries such as Germany and The United Kingdom.
Biological Drugs Market: Segmentation
The report on the global biologics market covers segments such as product, and therapy areas. On the basis of product, the sub-markets include monoclonal antibodies, vaccines, recombinant proteins, and others (antisense, RNAi & molecular therapy products). On the basis of therapy areas, the sub-markets include autoimmune, antidiabetics, oncologics, and others.
Biological Drugs Market: Competitive Landscape
The report provides profiles of the companies in the market such as F Hoffman La Roche, Eli Lilly & Company, Samsung Biologics, Celltrion Inc., Amgen Inc., Abbvie Inc., Sanofi S.A., Pfizer Inc., Novo Nordisk A/S, and Johnson & Johnson Services Inc.
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