The international biological drugs market is envisaged to grow at a handsome rate in the next few years. However, it could face challenges in the form of various product parameters, strict regulatory pathways and manufacturing processes, and longer product approvals, although biological drugs have historically shown better approval rates than conventional ones. Additionally, small players could find it difficult to enter the market because of the requirement of high capital expenditure.
Due to the COVID-19 pandemic, the global Biological Drugs market size is estimated to be worth US$ 283730 million in 2021 and is forecast to a readjusted size of US$ 508960 million by 2028 with a CAGR of 8.2% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, the Europe Biological Drugs market is estimated at US$ million in 2022, while the United States and China are forecast to reach US$ million and US$ million by 2028, respectively. The proportion of the United States is % in 2022, while Chinese percentage is %, and it is predicted that China market share will reach % in 2028, trailing a CAGR of % through the analysis period. As for the Europe Biological Drugs landscape, Germany is projected to reach US$ million by 2028. and in Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
The world biological drugs market is predicted to gain momentum with rising prevalence of chronic diseases such as cancer and diabetes across the globe. Demand for biological drugs could swell with the expansion of geriatric population at the global level. Currently growing inclination toward adoption of personalized medicines and strong research and development efforts taken to introduce new and powerful biological drugs are foretold to set the tone for a significant rise in demand.
This report focuses on Biological Drugs volume and value at the global level, regional level, and company level. From a global perspective, this report represents overall Biological Drugs market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan, etc.
Global Biological Drugs Market: Segment Analysis
The research report includes specific segments by region (country), by company, by Type and by Application. This study provides information about the sales and revenue during the historic and forecasted period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Therapeutic Protein
Monoclonal Antibody
Vaccine
Others
Segment by Application
Hospitals
Ambulatory Surgical Centers
Others
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E
By Company
Bristol-Myers Squibb
Eli Lilly
Takeda
Pfizer
Amgen
F. Hoffmann-La Roche
Johnson & Johnson
Merck
Abbott Laboratories
Baxter
Novartis
Biogen
GlaxoSmithKline