Biologics are substances derived from animals, human, and microorganisms
through biotechnology. They include genes that control production of vital
proteins, proteins that control the action of other proteins & cellular
processes, modify human hormones, or cells that produce
products that suppress or activate components of an immune system. They are
used for treatment of numerous diseases & conditions such as rheumatoid
arthritis, ulcerative colitis, and other autoimmune diseases.
Some common side
effects include weakness, chills, allergic reactions, nausea, diarrhea,
itching, vomiting, injection side reaction, constipation, cough, headache,
fever, shortness of breath, fever, dizziness and others.
According to study,
“Global Biologics Market Research Report: by Product
(Monoclonal Antibody, Interleukins, Vaccines, Growth Factors, Gene Therapy,
Others), by Disease Indication (Rheumatoid Arthritis, Psoriasis/Psoriatic
Arthritis, Cancer, Diabetes, Others), by Manufacturing (In-house, Sourced), and
Region - Forecast to 2023” the key companies operating in
the global biologics market are AbbVie, Inc., AstraZeneca, Pfizer Inc., Bayer
AG, GlaxoSmithKline Plc., Amgen, Sanofi, Novartis AG, Eli Lilly and Company, F.
Hoffman-La Roche AG.
Based on product
type, biologics market is segmented into vaccines, gene therapy, interleukins,
growth factors and monoclonal antibody. Monoclonal antibody segment includes
human, humanized, murine and chimeric. Vaccines segment holds major share in
market owing to growth in adoption of vaccines in the treatment of infectious
diseases. Monoclonal segment is expected to dominate the market due to its
importance in the development of personalized medication during the forecast
period. Based on disease indication, market is segmented into psoriasis or
psoriatic arthritis, cancer, diabetes, Crohn’s disease, rheumatoid arthritis,
ulcerative colitis, ankylosing spondylitis, cardiovascular diseases and
juvenile idiopathic arthropathy. In addition, based on manufacturing, market is
segmented into sourced and in-house manufacturing.
The biologics market is driven by growth in
healthcare expenditure, rise in prevalence of chronic & acute diseases, increase
in capital investment from key market players, growth in demand & higher
acceptability for innovative therapies, loss of patent exclusivity of the
leading biologic drugs, rise in awareness about benefits of biologics in
treating conditions, increase in geriatric population and growth in
advancements in biologics. However, rise in control and cost for accessing
biologics and stringent regulatory process & initial high capital
investment may impact the market. Moreover, growth in therapeutical
applications and increase in research & development (R&D) activities in
the field of pharmaceutical industries are major opportunities for market.
Based on geography,
the North-American region holds major share in biologics market owing to growth in competition in the healthcare
sector and rise in biotechnology sector in the region. The European and
Asian-Pacific regions are predictable to witness higher growth rate due to
surge in prevalence of cancer & diabetes and growth in government support
over the forecast period. In upcoming years, it is projected that the market
will be reached at rapid pace as a result of strong growth prospects of the
nascent biotechnology sector and rise in realization of the efficacy of
biologics in treating stubborn conditions for instance diabetes, rheumatoid
arthritis, and cancer during the forecast period. The global is growing at a
CAGR of 6.95% and is anticipated to reach the value of US $285,520.4 million by
the end of the forecast period (2018-2023).
For more information on the research report,
refer to below link:-
Related
Report:-
Global
Next-Generation Biologics Market Report 2019, Competitive Landscape, Trends and
Opportunities
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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