Biologics Outsourcing Services Market - Forecasts from 2021 to 2026
|出版商||Knowledge Sourcing Intelligence||商品編碼||1023148|
|出版日期||內容資訊||英文 115 Pages
|生技藥品外包市場-預測(2021年∼2026年) Biologics Outsourcing Services Market - Forecasts from 2021 to 2026|
|出版日期: 2021年07月06日||內容資訊: 英文 115 Pages||
The biologics outsourcing services market is projected to grow at a CAGR of 13.38% to reach US$26.186 billion by 2026 from US$10.870 billion in 2019. Biologics are essentially the drugs procured from living organisms or those which consist of the components of living organisms. These drugs are further used for the treatment of a range of diseases such as chronic diseases, cancer, cardiovascular diseases, etc. They are composed of sugar, proteins, and nucleic acid. When compared to small molecules drugs, biologics are much costlier but provides better results to the patient.
A major reason for the growth of this market is the growing need for research and development in the biologics outsourcing market and the advancement in biologic therapeutics.
The investment in research has increased rapidly. Globally, spending on research and development has increased in the past two decades. Every year the pharmaceutical industry develops a new variety of drugs. Data from the UNESCO Institute for Statistics (UIS) suggests that the global spending on research and development has reached almost US$ 1.7 trillion. According to the World Bank, East Asia and Pacific expenditure on research and development as a percentage of GDP accounts for 2.51 percent. The share of Korea remains the highest (4.81 percent) followed by Japan (3.26 percent) and China (2.19 percent) in the year 2018. In the US alone, pharmaceutical commerce spent $ 83 billion on Research and Development in 2019. According to UNESCO, North America and Western Europe spend the highest in R&D, followed by East Asia, South American, and Africa. Switzerland is the third-largest country to spend on R&D. With an ever-increasing expenditure on research and development, the global biologics outsourcing market is expected to grow.
Biologic therapeutics are considered to be the medicinal solutions of the future. Many countries are working upon the advancement of co-formulation strategies to establish biologic therapeutics. This will increase compliance, convenience, and accordance.
The investment and competition of the biologics outsourcing market are expected to drive the demand for this market in the forecast period.
Several players are making massive investments in the biologics outsourcing market across the world. The biologic outsourcing market is segmented into North America, Europe, Latin America, and the Asia Pacific region. North America is leading the biologic outsourcing market. Owing to a huge investment, wide population, and low-cost drug manufacturing, the Asia-Pacific region prevails as the fastest-growing biologics outsourcing market. With rapidly increasing investment, the European market is also expected to expand.
There's rapidly growing competition in the biologic outsourcing industries. The US owns the largest biologics market. Countries like India and China are providing a competitive edge in terms of lower prices and costs. Some of the leading competitors are Eurofins Scientific SE, WuXi AppTec, Lonza Group Ltd, SGS SA, Etc.
The rising chronic diseases, aging population, and investment are likely to accelerate the global biologics outsourcing market.
According to the world health organization, globally 41 million people die due to chronic diseases. A major proportion of these deaths are accounted to cardiovascular diseases. It claims 17.9 million lives annually, followed by cancer (9 million lives annually), respiratory diseases (3.9 million lives annually), and diabetes (1.6 million lives annually). According to the world health organization, "The number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050, with most of the increase in developing countries." According to the National Institute on Aging, approximately 79 percent of people, aged above 70 years, possess at least one of the seven chronic diseases- heart problem, diabetes, cancer, hypertension, stroke, arthritis, and respiratory disease. The growing number of people suffering from these chronic ailments is expected to drive the biologic outsourcing market. Biologic drugs are considered to be very useful when it comes to treating such diseases. Moreover, the companies are constantly investing in the research and development sector. Biocon Biologics is all set to invest Rupees 555 crores in 2021. Novartis AG, in Singapore, invested USD $700 million in its biologics sector and Squibb invested USD $900 million in 2019.
The rising COVID-19 Cases worldwide are also projected to positively impact the global biologics market.
Apart from social and economic disruptions, the disruption caused in the health care routine of the people by the pandemic is devastating. According to the World Health Organization, "nearly half of the world's 3.3 billion global workforces are at risk of losing livelihoods." This has created distress among the people, thereby having a very bad impact on their health. COVID-19 has also forced health care providers to alter their ways of treating patients. The rate of hospitalization has also increased. As the prolonged spread due to the virus is increasing, the infection spread is treated with biologics. Extensive research is taking place for the same. Until the development of vaccines, the COVID-19 treatment was solely dependent upon biological therapies.
Vaccine and Therapeutics Development
Blood and Blood-Related Products Testing
Cellular and Gene Therapy
Tissue and Tissue-Related Products Testing
Stem Cell Research
The Middle East and Africa