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Biologics Global Market Forecast Report 2024-2034 – Challenges Posed by Patent Expiration for Biologics

DUBLIN, Dec. 22, 2023 /PRNewswire/ — The “Biologics Market Report 2024-2034” has been added to  ResearchAndMarkets.com’s offering.

Revenue for the Biologics Market is forecast to surpass US$470 billion in 2024, with strong revenue growth through to 2034. 

Advances in Regenerative Medicine and Cell Biology Driving Market Growth

Advancements in cell biology and regenerative medicine are driving market growth by laying a robust foundation for stem cell-based therapies targeting a range of disorders, including cardiovascular, oncological, metabolic, and musculoskeletal conditions. These groundbreaking treatments offer global patients the potential for transformative strategies in handling complex medical challenges.

Continued exploration and innovation in this field are poised to achieve further milestones, ushering in a future where debilitating illnesses can be effectively managed, and in some cases, even eliminated. Companies like Editas Medicine, CRISPR Therapeutics, and Intellia Therapeutics leverage CRISPR-Cas9 gene editing technology for potential gene therapies and regenerative medicine applications, aiming to rectify genetic disorders at the molecular level. Additionally, Vericel’s FDA-approved MACI (Matrix-Induced Autologous Chondrocyte Implantation) utilizes a patient’s own cells to repair knee cartilage defects.

Challenges Posed by Patent Expiration for Biologics

The expiration of patents on the initial biologics generation is paving the way for increased competition as biosimilars are poised to enter the market soon. Biosimilars, designed to replicate the qualities of previously approved biologic therapies, are gaining momentum worldwide, driven by governments aiming to reduce healthcare costs. Notably, the Central Drugs Standard Control Organization (CDSCO) in India has introduced the “Guidelines on Similar Biologics” to boost the Indian biosimilars industry. The biologics field in biotechnology is rapidly evolving, with over 60% dedicated to treating diabetes, autoimmune disorders, and cancer, resulting in high and escalating costs.

Recognizing the barrier posed by these high prices, the World Health Organization (WHO) highlights an opportunity for generic drug manufacturers to produce biosimilar versions as patents expire. Generic drug producers are actively seeking biologics with impending patent expirations, with 230 drug patents set to expire between 2021 and 2025. Notable biologics expiring in 2024 include PERJETA (Pertuzumab), VYROLOGIX (Leronlimab), and STELARA (Ustekinumab). The Center for Biosimilars notes that while biologics currently constitute half of the oncology pharmaceutical industry, the expiration of nearly 20 oncology biologics’ patents by 2024 could lead to increased use of biosimilars in cancer treatment, contributing to lower overall costs.

Key Market Dynamics

Market Driving Factors

  • Rising Demand for Biologics
  • High Funding for Biomedical Research
  • Increase in Number of Elderly Population will Drive the Market Growth
  • Increasing Prevalence of Chronic Diseases

Market Restraining Factors

  • Patent Expiration for Biologics
  • High Cost of Biologics
  • High Stringency and Low Turnover for Clinical Trials

Market Opportunities

  • Emerging Economies Expansion and Prioritisation of R&D
  • Growing Significance of Genomics and Proteomics
  • Collaboration, M&A, and Partnerships among Biologics Companies

Forecasts to 2034 and other analyses reveal commercial prospects

  • In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
  • You will find original analyses, with business outlooks and developments.
  • Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising biologics prices and recent developments.

Segments Covered in the Report

Product Outlook

  • Monoclonal Antibodies
  • Human
  • Humanized
  • Chimeric
  • Murine
  • Vaccines
  • Recombinant Proteins
  • Regenerative Medicine
  • Tissue Engineered Products
  • Cell Therapy
  • Gene Therapies
  • Others

Application

  • Oncology
  • Infectious Diseases
  • Autoimmune Disease
  • Haematological Disorder
  • Cardiovascular Disorders
  • Others

Manufacturing Type

End-users

  • Hospitals
  • Speciality Centres
  • Others

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 22 leading national markets.

The report also includes profiles for the following leading companies:

  • AbbVie Inc.
  • Amgen Inc.
  • AstraZeneca plc
  • Biogen Inc.
  • Bristol-Myers Squibb Company
  • Celltrion, Inc.
  • Eli Lilly and Company
  • F. Hoffmann-La Roche Ltd.
  • Gilead Sciences, Inc.
  • Johnson & Johnson
  • Merck & Co.
  • Novo Nordisk A/S
  • Pfizer Inc.
  • Regeneron Pharmaceuticals, Inc.
  • Sanofi

In summary, the report provides you with the following knowledge:

  • Revenue forecasts to 2034 for Biologics Market, 2024 to 2034 Market, with forecasts for product, application, manufacturing type, and end-users, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
  • Revenue forecasts to 2034 for five regional and 22 key national markets – See forecasts for the Biologics Market, 2024 to 2034 market in North America, Europe, Asia Pacific, Latin America, and MEA. Also forecasted is the market in the U.S., Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
  • Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Biologics Market, 2024 to 2034.

For more information about this report visit https://www.researchandmarkets.com/r/aabbxm

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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SOURCE Research and Markets

Originally published at https://www.prnewswire.com/news-releases/biologics-global-market-forecast-report-2024-2034—challenges-posed-by-patent-expiration-for-biologics-302021687.html
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