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Biologics market is forecast to expand at a CAGR of 10.9% according to new research report

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A large number of companies are opting for partnerships and collaborations to expedite their drug development activities.

The global biologics market features an intensely fragmented and competitive landscape with the presence of several regional players competing against some of the global most prominent pharmaceutical companies, observes Transparency Market Research (TMR). Some of the leading players operating in the global biologics market are Novartis International AG, GlaxoSmithKline plc, AstraZenca, Bristol-Myers Squibb, and Eli Lilly and Company.

Big players are investing substantial amounts in mergers and acquisitions to strengthen their market presence and to expand their product portfolio.

Furthermore, leading players are launching novel biologic therapies approved by the U.S.

FDA to consolidate their shares in major regions.

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In recent years, top companies in the biologics market have focused their efforts on several co-development and licensing deals with emerging biotechnology players to discover new biologic drugs. For instance, Novartis announced in May, 2017 that it is mulling an option to license the mid-stage drug development by Conatus Pharmaceuticals for Nonalcoholic Steatohepatitis (NASH), popularly known as non-alcoholic fatty liver disease.

The global pharmaceutical company has paid a whopping amount of $50 million upfront to Conatus as part of its deal for emricasan drug in December, 2016. The company is expected to receive a whopping sum of $7 million payment from Novartis later this year.

Another big player Amgen has recently announced to ink a partnership deal with Elasmogen Ltd. and Feldan in developing intracellular biologics.

Such developments are likely to intensify the competition in the market in the coming years.

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The global market for biologics is projected to rise at 10.9% CAGR from 2016 to 2024. Expanding at a steady rate, the opportunities in the market is projected to reach US$479, 752 mn by the end of the forecast period.

Monoclonal Antibodies Segment Gains Prominence

Geographically, the major regional markets are Europe, North America, Latin America, the Middle East and Africa (MEA), and Asia Pacific; of these, North America currently dominates the global market. This regional market is projected to occupy a significant revenue share of over 40% by the end of the forecast period.

The growth of the North America market is driven by substantial R&D spending on developing novel biologics and numerous collaboration activities in advanced nations.

Based on product type, the global biologics market is segmented into cell therapy, monoclonal antibodies, vaccines, recombinant hormones/proteins, and gene therapy. Amongst these, monoclonal antibodies is projected to be the leading product segment.

The substantial growth in the segment is driven by the soaring demand for novel personalized and targeted therapies in various regions. This segment is projected to expand at a CAGR of 11.9% during the forecast period.

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Growing R&D Investments to Boost Biologics Development

The growing patient base due to rising prevalence of chronic and rare diseases has stimulated the demand for novel therapies. The promise of lucrative returns due to the premium pricing of several biologic drugs has triggered investments by large players in the global biologics market.

Extensive R&D activities in various developing and developed regions are further expected to catalyze the biologics market. Furthermore, intensifying pharmacological norms related to constant monitoring of the safety of these biologics among a wide population base during the post-marketing period augurs well for the biologics market growth.

However, compared to traditional drugs, the development of biologics calls for substantial investment in drug pipeline, which is a key factor hampering the biologics market to an extent. The total time required for clinical trials and drug approvals, especially for rare diseases, may further dissuade many small companies to invest in the market.

Nevertheless, the increasing number of favorable regulations for the approval of biologics has accelerated biologics development process, thereby boosting the market. In addition, several international pharmaceutical companies are opening their biologics production facilities in various emerging markets, such as in Asia Pacific, to bring down operational and production cost.

This is expected to positively impact the growth of the biologics drug market.

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The study presented here is based on a report by Transparency Market Research (TMR) titled, “Biologics Market (Product - Monoclonal Antibodies, Vaccines, Cell Therapy, Recombinant Hormones/Proteins, and Gene Therapy; Application - Infectious Diseases, Oncology, Immunology, and Autoimmune Diseases) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”


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