PUBLISHER: Visiongain Reports Ltd. | PRODUCT CODE: 1386923
PUBLISHER: Visiongain Reports Ltd. | PRODUCT CODE: 1386923
The global Biologics Market is projected to grow at a CAGR of 8.5% by 2034 .
“The Biologics Market Report 2024-2034”: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Advancements in cell biology and regenerative medicine are driving market growth by laying a robust foundation for stem cell-based therapies targeting a range of disorders, including cardiovascular, oncological, metabolic, and musculoskeletal conditions. These groundbreaking treatments offer global patients the potential for transformative strategies in handling complex medical challenges. Continued exploration and innovation in this field are poised to achieve further milestones, ushering in a future where debilitating illnesses can be effectively managed, and in some cases, even eliminated. Companies like Editas Medicine, CRISPR Therapeutics, and Intellia Therapeutics leverage CRISPR-Cas9 gene editing technology for potential gene therapies and regenerative medicine applications, aiming to rectify genetic disorders at the molecular level. Additionally, Vericel's FDA-approved MACI (Matrix-Induced Autologous Chondrocyte Implantation) utilizes a patient's own cells to repair knee cartilage defects.
The expiration of patents on the initial biologics generation is paving the way for increased competition as biosimilars are poised to enter the market soon. Biosimilars, designed to replicate the qualities of previously approved biologic therapies, are gaining momentum worldwide, driven by governments aiming to reduce healthcare costs. Notably, the Central Drugs Standard Control Organization (CDSCO) in India has introduced the "Guidelines on Similar Biologics" to boost the Indian biosimilars industry. The biologics field in biotechnology is rapidly evolving, with over 60% dedicated to treating diabetes, autoimmune disorders, and cancer, resulting in high and escalating costs. Recognizing the barrier posed by these high prices, the World Health Organization (WHO) highlights an opportunity for generic drug manufacturers to produce biosimilar versions as patents expire. Generic drug producers are actively seeking biologics with impending patent expirations, with 230 drug patents set to expire between 2021 and 2025. Notable biologics expiring in 2024 include PERJETA (Pertuzumab), VYROLOGIX (Leronlimab), and STELARA (Ustekinumab). The Center for Biosimilars notes that while biologics currently constitute half of the oncology pharmaceutical industry, the expiration of nearly 20 oncology biologics' patents by 2024 could lead to increased use of biosimilars in cancer treatment, contributing to lower overall costs.
You need to discover how this will impact the biologics market today, and over the next 10 years:
This report tells you TODAY how the biologics market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, ""V" ", "L", "W" and "U" are discussed in this report.
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 22 leading national markets:
The report also includes profiles and for some of the leading companies in the Biologics Market, 2024 to 2034, with a focus on this segment of these companies' operations.
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Overall world revenue for Biologics Market, 2024 to 2034 in terms of value the market will surpass US$470.0 billion in 2024, our work calculates. We predict strong revenue growth through to 2034. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
In summary, our 310+ page report provides you with the following knowledge:
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Biologics Market, 2024 to 2034, market-leading companies. You will find data, trends and predictions.