Pharmaceutical biologics are products which are extracted from living organisms or contain certain components of living organisms. Pharmaceutical biologics are derived from various sources from animals, human beings, or microorganisms with the use of biotechnology. These pharmaceutical biologics are available in various forms such as, blood, vaccines, blood components, allergens, cells, tissues, genes, and recombinant proteins. Pharmaceutical biologics have gained popularity through the years, over traditional drugs, as they have a higher approval success rate. Biopharmaceutical industries are growing at a robust rate, through which an approximate of 13% biomolecules that enter clinical trials phase I are anticipated to be approved as a drug. According to the United States FDA, pharmaceutical biologics are likely to be made of, nucleic acids, proteins, sugars, or complex combinations of these substances. Technological advancements biotechnology related techniques and intricate processes are used for manufacturing pharmaceutical biologics.
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Pharmaceutical biologics market is anticipated to witness a consistent growth throughout the forecast period owing it to the growing incidence of chronic and infectious diseases, branded pharmaceutical companies losing patent extensions, increasing research and development in the biopharmaceutical industries across regions, and rise in government initiatives for investment in incremental innovations. Improvements in healthcare infrastructure in the developing regions and rise in regulatory convergence for pharmaceutical biologics is also expected to propel market growth for pharmaceutical biologics during the forecast period. However, the complexity of manufacturing of pharmaceutical biologics that include, controlled conditions and production process, might obstruct market growth. Lack of quality control manufacturing of pharmaceutical biologics in low and middle-income countries might also hinder market growth during the forecast period. Need for eliminating environment related contamination during the manufacturing process and maintaining susceptibility of these pharmaceutical biologics, to heat conditions, light and further temperature related complications might also hamper market growth of pharmaceutical biologics during the forecast period.
On the basis of Drug Class, Pharmaceutical Biologics Market can be segmented as:
- TNF inhibitor
- Monoclonal antibodies
- Colony stimulating factors
On the basis of Application, Pharmaceutical Biologics Market can be segmented as:
- Rheumatoid arthritis
On the basis of Distribution Channel, Pharmaceutical Biologics Market can be segmented as:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Majorly, only biopharmaceutical companies have been observed to enter the pharmaceutical biologics market because of high initial cost setup. Approximately a successful product launch requires an estimated US$ 1.0 billion investment and takes around 9 years. Furthermore, patented pharmaceutical biologics are expected to be substituted with biosimilar drugs during the forecast period. High level of competition is anticipated to limit market growth. However, growing demand for pharmaceutical biologics for various infectious diseases across regions is expected to contribute a high revenue share by the application segment for infectious diseases. Also, presence of contract manufacturing organizations (CMOs), founding integrated facilities in high potential markets, and the use of pharmaceutical biologics as a preventive medicine might fuel the overall market growth for pharmaceutical biologics during the forecast period.
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Geographically, global pharmaceutical biologics market is segmented into regions viz. North America, Latin America, South Asia, Oceania, East Asia, Europe, and the MEA. North America’s market for pharmaceutical biologics is expected to hold a prominent share owing it to the high incidence of patients with infectious diseases in the region. According to the statistics provided by the Centers for Disease Control and Prevention, approximately 53Mn people are currently affected by arthritis in the United States. Pharmaceutical biologics are tremendously in demand for rheumatoid arthritis conditions. Furthermore, products launch of advanced pharmaceutical biologics by major players coupled with rise in distribution channel is expected to drive the pharmaceutical biologics market for Europe. Developing nations like Asia-Pacific are anticipated to contribute a moderate revenue share in the overall pharmaceutical biologics market. Middle east & Africa’s market for pharmaceutical biologics is expected to grow at a decent rate because of less availability of pharmaceutical biologics and low overall healthcare expenditure.
Some of the market participants in the global pharmaceutical biologics market identified across the value chain include: Pfizer Inc., GlaxoSmithKline plc, Novartis AG, AstraZeneca, Eli Lilly and Company, Merck KgaA, Sanofi, Johnson & Johnson Services, Inc., AbbVie Inc., and Amgen Inc., and Novo Nordisk A/S.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.