Global Biologics Market Set to Grow to $250bn by 2023

Thursday 15 November 2018, Amsterdam

Bio therapeutics is the fastest-growing sector in the pharmaceutical industry, with total revenues reaching up to $163 billion. Its annual growth surpasses 8%, whereas conventional pharmaceuticals barely reach 4%. The current landscape of biologics promises continuous growth. Biologics are much costlier than small molecule drugs, these classes of drugs bring about 40% higher profit to the manufacturers when compared to small molecule drugs. Additionally, the growing demand for biologics drugs coupled with the increased regulatory approvals for these drugs will increase the demand for biologics manufacturing and testing at various levels of clinical studies as well as commercial supply.

The lead analyst of the report commented "The biologics market is built on technological innovation and continued development of biotechnology is the key to the market’s future. The tools for innovation as well as for manufacturing are becoming widely disseminated. The suite of techniques that stand behind the current mAbs market, including phage display, humanisation and transgenic mice, are now off-patent and available to any company that wishes to take advantage of them.

Therefore, there is a major need for new platforms that can keep new and emerging technologies in the hands of innovator companies. Rapid advances in assays will also have a major knock-on effect on the biopharmaceutical industry, both by permitting more rapid and accurate characterisation of biologics and biosimilars, and by allowing new diagnostic tools into the market. New diagnostics will accelerate the rise of personalised medicine, which is likely to be highly relevant to the future of the biologics market."

Leading companies featured in the report include AbbVie, Amgen, AstraZeneca, Bayer, Eli Lilly, Roche, GlaxoSmithKline (GSK), Johnson & Johnson, Merck & Co., Inc., Novartis, Pfizer, Sanofi S.A.