Increasing Prevalence of Chronic Diseases to Augment Growth of the Biologics Market

A biologic drug (biologics) is a product that is produced from living organisms or contains components of living organisms. Biologic drugs are widely used to prevent, diagnose, treat, or cure a variety of diseases, including infectious diseases, autoimmune disorders, chronic kidney disease, and cancer. Biologics drugs are derived from a wide variety of natural sources such as human, animal, or microorganisms by using biotechnology. Moreover, Biologics include a wide variety of products such as blood and blood components, vaccines, tissues, allergenic, gene therapy, somatic cells, and recombinant therapeutic proteins. Novel therapies and new technologies are emerging to create new biologics, which holds a prominent future for the biologics market.

The market is majorly driven by the increasing prevalence of chronic diseases across the globe, growing capital investment by key players, and higher acceptability and increasing demand for innovative therapies. For instance, according to the National Health Council, around 157 million Americans are expected to have more than one chronic disorder by 2020. Moreover, according to the World Health Organization, diabetes, cancer, and cardiovascular diseases account for around 1.6 million, 9 million, and 17.9 million deaths each year, respectively.

The success of biologics in the treatment of major chronic diseases, especially autoimmune diseases and cancer, has enabled key market players to invest in these products. In 2019, three biologic drugs were approved by the U.S. Food and Drug Administration, one of which is an anticoagulant solution by Griffols. Biologics have had a higher success rate in terms of approval than conventional drugs. However, high cost and difficulty in manufacturing (as biologics are highly complex in nature), as well as lower availability and affordability of biologics in middle-to-low income economies are expected to hinder the growth of the biologics market.

In terms of geography, the biologics market is divided into six regions, such as North America, South America, Asia Pacific, Europe, the Middle East, and Africa. The Asia Pacific is expected to witness substantial growth in the biologics market due to the increasing prevalence of diabetes. Currently, the Western Pacific region alone has more than 30 million people with diabetes. Furthermore, according to WHO, the number is expected to increase dramatically by 2025. Government initiative for the awareness of biologics is expected to drive the growth of the market in North America. Key players involved in the market are focused on developing several biopharmaceutical products to maintain the market position or strengthen their product portfolio.

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