Future Scope of Biologics Market is Witness to Grow High CAGR till 2023

Market Highlights

Global biologic market is expected to grow at a CAGR of 8.6% during forecasted period 2017-2023 and reach till $425 million by end of 2023. Biologics are the drugs prepare or obtain from the biological organism. They are composed of protein, sugars or nucleic acids. This drugs are basically used in treatment of cancer and diabetes. Increasing prevalence of these diseases across the globe is the major responsible factor for the growth of the market. Beside this increasing demand for the better treatment, rising regulatory convergence and better access to healthcare for all nations has provided fuel for the growth of the market. On the other hand, biologic drugs are highly complex in nature and they must be controlled under maintained condition. This type of atmosphere and quality control is very difficult and requires a huge capital. This may hamper the growth of the market.

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On regional basis, global biologic market is segmented as North America, Europe, Asia Pacific and Middle East and Africa. Almost 9% of total North America population is suffering from diabetes. North America shares nearly half of the global biologic market due to increasing diabetic and cancer population, increasing healthcare expenditure and governmental support for the research and development. North America is followed by Europe. UK and Germany are the major contributor for the biologic market. Asia Pacific is the fastest growing region for the biologic market due to rapid development of health care sector and presence of rapidly growing economies like India and China. While Middle East and Africa has the least biologic market.

Segmentation:

Global biologic market is segmented on the basis of type into vaccines, blood products, proteins, gene therapy, and other. On the basis of application they are segmented into anemia, cancer, diabetes, and other. On the basis of source they are segmented as human, animal, microorganism, and other.

Some of the major players in the global neuromodulation market include Unilife Corporation (US), Sanofi (France), Retractable Technologies Inc. (US), Smiths Medicals (UK), Becton, Dickinson & Company (Germany), Terumo Corporation (Japan), Pfizer Inc. (US), Roche Diagnostics (Switzerland), Amgen (US), GSK Biologicals (UK), Lundbeck (Denmark), Novartis AG (Switzerland), AstraZeneca (UK), Bayer AG (Germany), Genzyme (US), Merck KGaA (Germany), Samsung Biologics (South Korea), Celltrion (South Korea), Addgene (US), Johnson & Johnson Inc. (US), Eli Lilly & Company (US), Bristol-Myers Squibb (US), Biogen Inc. (US).

Many of the major companies are focusing on introduction of new biologic drugs and advancement in the treatment of the diseases by minimizing the side effects of the drugs.

Unilife Corporation is a U.S. based developer, manufacturer and supplier of injectable drug delivery services. Precision-Therapy, Flex-Therapy, Imperium are the widely used injectors of this company.

Sanofi is a French multinational pharmaceutical company headquartered in France. This company has performing phase 3 trials on efpeglenatide and sotagliflozin for the treatment of diabetes and isatuximab for the treatment of Multiple Myeloma in 2017. ActHIB, DAPTACEL, Fluzone High-Dose and Imovax Rabies are some of the vaccines manufactured by this company.

Becton, Dickinson & Company a Germany headquartered company has introduced BD Neopak a prefillable glass syringe designed for high-volume injection of biologics.

Smiths Medicals an UK headquartered company is one of the leading pharmaceutical manufacturing and research company. Varivax SDV, Menactra VL, Adacel SYR and Decavac SYRG are some of the major vaccines of this company.

Eli Lilly & Company is a U.S. based pharmaceutical company. This company has recently got an approval for Olumiant for the treatment of Arthritics.

AstraZeneca an UK headquartered company has announced positive top-line results for its licensed asthma biologic benralizumab. Arimidex (anastrozole) and Casodex (bicalutamide) are some of the major drug by the company for the treatment of Cancer.

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