Biologics are those products that are derived from animals, humans and microorganisms through biotechnology. Medications delivered utilizing biologics are being utilized to treat a variety of interminable ailments. Continuous development in the pharmaceutical segment is probably going to support the interest for biologics. The Biologics Market is driven by the prominence of chronic diseases and the all-inclusive medicinal budget of the countries. Enhancements seen in the healthcare infrastructure combined with changes by different nations is probably going to be favorable for the global biologics market growth during the forecast period. However, with the advent of the biosimilars, the biologics market could experience a challenge. The global Biologics Market is growing at a CAGR of 6.95% and is projected to reach the value of USD 285,520.4 million by the end of the forecast period (2018-2023).
Based on its product, the global Biologics Market is segmented into interleukins, monoclonal antibody, vaccines, gene therapy, growth factors, and others. By disease indication, the market is bifurcated into cancer, rheumatoid arthritis, diabetes, psoriasis/psoriatic arthritis, ulcerative colitis, ankylosing spondylitis, Crohn’s disease, cardiovascular diseases, juvenile idiopathic arthropathy, and others. On the basis of its manufacturing, the market is classified, mainly in-house and outsourced.
Geographically, the global Biologics Market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
The major players profiled in the global biologics market report include companies like Novartis AG (Switzerland), F. Hoffman-La Roche AG (Switzerland), AbbVie, Inc. (U.S.), Pfizer Inc. (U.S.), AstraZeneca (U.K.), Bayer AG (Germany), Amgen (U.S.), GlaxoSmithKline Plc (U.K.), Sanofi (France), Eli Lilly and Company (U.S.), and others.