The biologics manufacturing market comprises companies
manufacturing biological products that are derived from genetically modified
proteins and human genes. Biologics products include a wide range of
recombinant therapeutic proteins, vaccines, and monoclonal antibodies. These
products are isolated from natural sources such as human, animal, and
microorganisms by biotechnological methods and other cutting-edge technologies.
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Biologics Market Size
The global biologics market grew at a compound annual growth
rate (CAGR) of about 5.5%. This growth can be attributed to technological
advances in research and development of biologics around the world. Intensive
research in novel therapies and combination therapies for the treatment of a
wide range of chronic diseases such as cancer, rheumatoid arthritis, macular
degeneration and hematological malignancies has led to the development of a
range of new products and contributed to the biologics market growth.
North America was the largest region
in the biologics market in 2017, accounting for about 40% of the market. This
can be attributed to the high per capita healthcare expenditure in the region
and the investment in novel treatments leading to the early adoption of new
anti-inflammatory, anti-cancer and anti-viral biologics in the region. Pricing
levels for drugs in the US are also some of the highest globally.
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The North American biologics market is expected to grow from
$87.3 billion in 2017 to $135.9 billion in 2021. The steep increase in the
growth rate of the market during 2017-2021 can be attributed to support from
governments to increase awareness about the safety and efficacy of biologics in
the treatment of rare and chronic diseases and also the increasing prevalence
of these rare diseases is expected to enhance the growth of the biologics
market.
Monoclonal
antibodies and therapeutic proteins dominate the market for biologics in North
America, with a market value of $40 billion and $33 billion respectively in
2017. The vaccine market was worth about $15 billion in 2017.
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