In 2023, the global biologics market was valued at USD 333.10 billion and is expected to grow at a CAGR of 9.59% from 2024 to 2030, reaching USD 577.03 billion by 2030. Key growth factors include the rising incidence of autoimmune disorders like rheumatoid arthritis, increasing cases of cancer, growing prevalence of infectious diseases, rising occurrences of genetic disorders, and ongoing advancements in biologics product development and innovation.
DelveInsight’s “Biologics Market Report 2030” research report provides the current and forecasted Biologics market size, share, and trends analysis for the next five years, upcoming innovations in the segment, and major market drivers & barriers. The report also covers the key competitors and emerging devices in the domain.
The rising prevalence of autoimmune disorders such as rheumatoid arthritis is a significant driver of the biologics market. According to the World Health Organization’s 2023 factsheet, approximately 14 million people are affected by rheumatoid arthritis worldwide. Rheumatoid arthritis is a systemic autoimmune condition characterized by joint pain, swelling, deformity, and often accompanied by systemic symptoms.
Biologics have emerged as preferred treatments for autoimmune diseases like rheumatoid arthritis due to their targeted approach compared to traditional small-molecule drugs. Key biologics used in the treatment of rheumatoid arthritis include Humira (Adalimumab), Remicade (Infliximab), Abatacept (Orencia), Anakinra (Kineret), and Rituximab (Rituxan).
The demand for biologics is expected to rise significantly due to increasing incidence of rheumatoid arthritis in the coming years, driven by factors such as an aging population and rising obesity rates, which are major risk factors for the disease. These trends are anticipated to positively impact the growth of the global biologics market during the forecast period.
Developments & Breakthroughs in the Biologics Market:
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On March 07, 2023, Mesoblast Limited (Nasdaq: MESO; ASX: MSB) announced that the United States Food and Drug Administration’s (FDA) Office of Therapeutic Products (OTP) has accepted the Company’s Biologics License Application (BLA) resubmission for remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). The FDA considers the resubmission a complete response and has set a Prescription Drug User Fee Act (PDUFA) goal date of August 2, 2023.
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On March 05, 2023, Eisai Co., Ltd. and Biogen Inc. announced that the U.S. Food and Drug Administration (FDA) had accepted Eisai’s supplemental Biologics License Application (sBLA) for LEQEMBI™ (lecanemab-irmb) 100 mg/mL injection for intravenous use, supporting the conversion of the accelerated approval of LEQEMBI to a traditional approval. The LEQEMBI application has been granted Priority Review, with a Prescription Drug User Fee Act (PDUFA) action date of July 6, 2023. The FDA is currently planning to hold an Advisory Committee to discuss this application but has not yet publicly announced the date of the meeting.
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On October 15, 2021, the US FDA approved atezolizumab (Tecentriq) by Genentech, Inc. for adjuvant treatment following resection and platinum-based chemotherapy in patients with stage II to IIIA non-small cell lung cancer (NSCLC).
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In August 2021, Bristol Myers Squibb received conditional marketing authorization for Abecma (idecabtagene vicleucel) from the European Commission for the treatment of adult patients with relapsed and refractory multiple myeloma. It is a first-in-class B-cell maturation antigen (BCMA)-directed chimeric antigen receptor (CAR) T-cell immunotherapy.
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In June 2021, the US FDA approved the product approval to Biogen Inc’s Aduhelm (aducanumab) for the treatment of Alzheimer’s disease in an accelerated approval pathway.
Key Companies in the Biologics Market include The leading companies in the Biologics market include GlaxoSmithKline, Eli Lilly & Company, F. Hoffmann-La Roche Ltd, AbbVie Inc, Amgen Inc, Sanofi, Merck & Co., Inc, Novo Nordisk, Novartis AG, Pfizer Inc, AstraZeneca, Bristol Myers Squibb., Regeneron Pharmaceuticals Inc., Gilead Sciences, Inc., Boehringer Ingelheim International GmbH., Genentech, Inc, Biogen., bluebird bio, Inc, Janssen Global Services, LLC, Cellitron Group and others.
Learn How New Players’ Entries Will Transform the Biologics Market Dynamics in the Coming Years @ https://www.delveinsight.com/sample-request/biologics-market
Table of Contents
1. Report Introduction
2. Executive summary
3. Regulatory and Patent Analysis
4. Biologics Market Key factors analysis
5. Biologics Porter’s Five Forces Analysis
6. COVID-19 Impact Analysis on Biologics Market
7. Biologics Market Layout
8. Biologics Global Company Share Analysis
9. Biologics Product Profiles and Key Companies
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
13. Disclaimer
14. About DelveInsight
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