Key Highlights of the Biologics Market
The biologics market is expected to grow at the registering a CAGR of 9.22% during the forecast period, 2022-2027.
The rising research and development activity in biologics is expected to support the biologics market growth. For instance, in March 2022, The TXBio Pilot Grant Program is a research initiative led by The University of Texas at Austin’s College of Natural Sciences and Cockrell School of Engineering that focuses on the discovery, early development, and clinical translation of biologic therapies developed across the university (UT Austin). TXBio (Texas Biologics) is funded by philanthropic gifts that are being used to improve the intellectual environment and infrastructure at UT Austin that is relevant to biologics discovery and translation.
The government of different countries is taking initiatives to increase awareness about cancer and its diagnosis so that it can be detected earlier. For instance, in February 2022, The Health Minister of Tamil Nadu, State of India, stated that the government of Tamil Nadu is indulged in framing the policy to identify 66% of cancer patients in the first and second stages by 2030 and thus proper treatment could be availed and hence such policies is expected to drive the growth of the market.
In October 2021, Cadila Pharmaceuticals (Cadila) launched two similar biologics onto the Indian market: NuPTH, teriparatide similar biologic, and Cadalimab, a similar biologic of the auto-immune treatment adalimumab. Additionally, in May 2021, Amgen reported its partner AstraZeneca submitted a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for tezepelumab, a potential first-in-class medicine in severe asthma.
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Key Drivers of the Biologics Market
The market is majorly driven by growing capital investment from key players, the rise in the burden of chronic diseases, loss of patent exclusivity of the leading biologic drugs, and growing demand and higher acceptability for innovative therapies.
According to the World Health Organization (WHO) 2021, non-communicable diseases (NCDs) are causative of 41 million deaths in people each year, equivalent to 71% of the total death rate. Each year, more than 15 million people die from non-communicable diseases between 30 and 69 years. These growing cases of chronic diseases are expected to further increase the demand for biologics in the treatment of chronic diseases.
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Recent Developments in the Biologics Market
In June 2022, Aeglea BioTherapuetics announced that it had failed to secure a biologics license application (BLA) from the FDA after administrators issued a refusal to file for the company’s biologic pegzilarginase.
In May 2022, Biocon Biologics and Viatris (formerly Mylan) launched the cancer drug Bevacizumab under the brand name Abevmy in Canada. The Abevmy was developed by the two companies Biologics and Viatris.
In February 2022, The Janssen Pharmaceutical Companies of Johnson & Johnson received the U.S. Food and Drug Administration (FDA) has approved CARVYKTI (ciltacabtagene autoleucel; cilta-cel) for the treatment of adults with relapsed or refractory multiple myeloma (RRMM) after four or more prior lines of therapy, including a proteasome inhibitor, an immunomodulatory agent, and an anti-CD38 monoclonal antibody.
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List of Key Players in the Biologics Market
Eli Lilly and Company
F. Hoffmann-La Roche AG
Johnson & Johnson
Merck & Co.
*List Not Exhaustive
Mordor Intelligence has segmented the Biologics Market based on product, application, and geography:
Product (Market Size & Forecast based on Value (USD Billion), 2019-2027)
Application (Market Size & Forecast based on Value (USD Billion), 2019-2027)
Geography (Market Size & Forecast based on Value (USD Billion), 2019-2027)
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
Rest of Middle East and Africa
Rest of South America
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