The Global "Biologic Therapeutics Drugs Market" is estimated to reach at a high CAGR during the forecast period (2022-2029).
Biologic therapeutics drugs are genetically engineered proteins derived from human genetic material. They contain sugars, proteins, nucleic acids, or complex combinations of these substances, or maybe living entities such as cells and tissues. In addition, biologics drugs are derived from natural sources such as animals, humans, and microorganisms that are further utilized to make therapeutic products such as vaccines, blood components, and recombinant therapeutic proteins.
The global biologic therapeutics Drugs Market growth is driven by the presence of cancer, diabetes, and other coronary heart diseases. A growing geriatric population also has been responsible for making the market gain extensive revenue in the form of quality treatment processes.
The increasing popularity of biological therapeutic drugs will drive the market
Increasing reimbursement for biologics is predicted to positively influence the biologic therapeutics market in the forecast period. Medical insurance companies and state-run insurance schemes are increasingly accepting claims against biologic therapeutics. Biologic therapeutics are gaining popularity due to the efficacy of biologic therapeutic drugs and fewer side effects than chemical-based drugs. This is because biological drugs are obtained from natural sources such as plants, or even living components such as cells and tissues of animals, microorganisms, or humans. These fragments are further treated to make therapeutic products such as blood components, vaccines, and recombinant therapeutic proteins.
The increasing prevalence of chronic diseases such as cancer, diabetes, and coronary artery diseases, and a growing geriatric population are some other factors contributing to the biologic therapeutics market. In addition, mounting clinical trials and innovative research and development practices to develop novel drugs is boosting the growth
The rising applications of biological products will drive the growth of the market
The global biologic therapeutics drugs market is predicted to benefit from the rising applications of biological products. Biological products could be made of sugars, nucleic acids, proteins, or complex combinations of these substances, or maybe living components such as cells and tissues. Biological products are used to prevent diseases, diagnose diseases, or treat or cure medical conditions. These factors are driving the growth of the market in the forecast period.
Manufacturing difficulties associated with use is likely to hinder the market growth
However, the manufacturing difficulties due to the complexities of drug molecules are challenging the growth of the biologic therapeutics drugs market in the forecast period.
In COVID-19, the body may respond to the virus by overproducing immune cells and their signaling molecules in a phenomenon called cytokine release storm. By inhibiting biologic therapeutics drugs, Actemra is speculated to be associated with better clinical outcomes, such as decreased systemic inflammation, improved survival rate, better hemodynamic, and improved respiratory distress. Clinical trials are underway evaluating Actemra in patients with severe or critical cytokine release syndrome. These factors are driving the growth of the market in the pandemic.
The Gene therapies segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
Gene therapies refer to an experimental technique that uses genes to treat or prevent disease. The various techniques include replacing a mutated gene that causes disease with a healthy copy of the gene, or inactivating, or knocking out a mutated gene that is functioning improperly, or/and introducing a new gene into the body to help combat disease. Gene therapy is no longer considered a futuristic dream and instead, it has become a treatment for the present. Gene therapies are gaining momentum as promising primary successes in clinical studies to accumulate and examples of regulatory approval for licensing rise in number. Somatic cells can now be treated with gene fragments or gene replacements to express required proteins. While gene therapy was originally targeted for the inherited disease, it is now capable of treating a variety of acquired problems including cancer and HIV. Initially delivered through viruses, now there are safer direct or biochemical vectors, while in the future nano-particles might deliver the drug of choice directly to the nucleus of affected cells. These factors are driving the market growth in the region.
Rheumatoid arthritis, are expected to dominate the biologic therapeutics drugs market during the forecast period
Rheumatoid arthritis is associated with autoimmune that causes inflammation in joints of the body further the disease affects the muscle, connective tissues, joints, fibrous tissue, and tendons. Rheumatoid arthritis has a major negative effect on the ability to perform health-related quality of life daily activities, including work and household tasks, and it increases mortality. Rheumatoid arthritis strikes in between the ages of 20 and 40, the most productive years of adulthood, and is a chronic immobilizing condition often causing deformity and pain. The prevalence of rheumatoid arthritis differs between 0.3% and 1% and is more common in developed countries mostly in women. Rheumatoid arthritis causes disability, premature death, and lowers the quality of life. It is a universal inflammatory disease that establishes itself in various joints in the body. This inflammation typically transforms the organs of the body, but can also affect the lining of the joints. This inflamed joint lining tends to disintegrate the bone and joint deformity and sometimes causes cartilage. The prevalence of rheumatoid arthritis is driving the growth of the market in the forecast period.
North America region holds the largest market share global biologic therapeutics drugs market
North America region is dominating the global biologic therapeutics drugs market accounted for the largest market share in 2020, owing to the factors such as established healthcare sector with a large number of renowned players, high investment & demand for more effective and safer drugs, etc. Moreover, the high income per capita, rise in inpatient visits to physicians, research advancements due to high funding are some of the factors that are driving the growth of the market in the region.
The biologic therapeutics drugs market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Pfizer Inc., Novartis Global, Smith Medical, Concord Biotech, H. Lundbeck A/S, AstraZeneca, Merck & Co. Inc., GlaxoSmithKline plc, Aurobindo Pharma Ltd., and Retractable Technologies Inc., among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the biologic therapeutics drugs market globally.
Biologic Therapeutics Drugs Market Key Companies to Watch
Overview: Pfizer Inc. (Pfizer), incorporated on June 2, 1942, is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development, and manufacture of healthcare products. Its global portfolio includes medicines and vaccines. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). IH focuses on developing and commercializing medicines and vaccines that improve patients' lives. IH therapeutic areas include internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases. EH includes legacy brands, branded generics, generic sterile injectable products, biosimilars, and infusion systems. EH also includes a research and development (R&D) organization, as well as its contract manufacturing business. The Company sold its products in over 125 countries.
Product Portfolio: The Company’s portfolio comprised of includes internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, and others.
Key Development: In October 2020, Pfizer Inc. and Sangamo Therapeutics, Inc., announced the first participant has been dosed in the Phase 3 AFFINE study of giroctocogene fitelparvovec (SB-525), investigational gene therapy for hemophilia A patients. AFFINE is a global Phase 3, open-label, multicenter, single-arm study that will evaluate the efficacy and safety of giroctocogene fitelparvovec in patients with moderately severe to severe hemophilia A.
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