Global Biologic Therapeutics Market Set to Grow by USD 286.12 Billion by 2027, Boosted by Biosimilar Introductions: Technavio

1 minute read

Technavio Global Biologic Therapeutics Market Infographic

According to the latest analysis by Technavio, the global biologic therapeutics market is anticipated to witness substantial expansion, projecting a growth of USD 286.12 billion from 2023 to 2027. The market is expected to surge at a Compound Annual Growth Rate (CAGR) of 11.34% during this period. This robust growth trajectory is attributed to various factors, including the introduction of biosimilars, advancements in mRNA therapeutics, nanosystems, and personalized medicine.

Biosimilars, which are biologic products highly similar to approved biologics, are poised to play a pivotal role in driving market expansion. These products, characterized by their safety, purity, and potency akin to their reference biologics, are expected to cater to diverse therapeutic areas such as infectious diseases, cancers, and autoimmune diseases. Notably, the market encompasses a spectrum of innovative treatments, including soluble receptors, immunoconjugates, immunotherapeutics, and biosimilars, all leveraging cutting-edge biotechnology, cell lines, proteins, and adjuvants.

The forecasted growth of the biologic therapeutics market is underpinned by significant advancements in therapeutic modalities such as mRNA therapeutics, nanosystems, and personalized medicine. These innovations promise to revolutionize treatment approaches, offering more precise and tailored solutions to patients worldwide.

Leading biologic therapeutics such as Remicade, Humira, Herceptin, Avastin, and Rituxan/MabThera are expected to continue playing a vital role in addressing a myriad of health conditions, including infectious diseases, immune system disorders, cancers, and genetic diseases. The regulatory landscape, particularly overseen by entities like the FDA, will continue to shape the approval process for biologic treatments, ensuring rigorous standards of safety and efficacy.

Geographically, North America is anticipated to spearhead market growth, accounting for a significant market share of 57%. The region is propelled by advancements in biotechnology and biomedical science techniques, with key players such as AbbVie, Eli Lilly, Merck, Pfizer, and Amgen dominating the market with their differentiated products.

The global biologic therapeutics market is poised for remarkable expansion, driven by a convergence of technological advancements, regulatory initiatives, and growing demand for innovative treatments across various disease areas. As the market continues to evolve, stakeholders are poised to capitalize on emerging opportunities, further fueling advancements in biologic therapies and improving patient outcomes.

For more insights and comprehensive analysis on the historic (2017 – 2021) and forecast market size, interested parties can request a sample report from Technavio.