The Global Biologics Market is estimated to be valued at US$ 463.06 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the biologics market are Novartis AG; Pfizer Inc; Dickinson & Company; Smith’s Medicals; Roche Diagnostics; AstraZeneca; Bayer AG; GSK Biologicals; Samsung BioLogics; Merck & Co., Inc.; Eli Lilly and Company; Hoffmann-La Roche Ltd; AstraZeneca.

The increasing incidence of chronic diseases and the growing geriatric population are driving the demand for biologics globally. Biologics have revolutionized the treatment of various life-threatening illnesses and offer higher efficacy and fewer side effects than conventional drugs.

A rise in pharmaceutical R&D expenditure and increasing approvals for Biologics Market Size  are encouraging market players to expand their manufacturing facilities across major markets. Key biologics manufacturers are undertaking mergers and acquisitions to strengthen their product portfolios and geographically expand into high-growth markets.

Market drivers
The increasing adoption of biologics drugs over chemically synthesized medicines is one of the major drivers of this market. Biologics have minimal side effects compared to traditional drugs and are more effective against target conditions such as cancer and autoimmune disorders. Their high selectivity allows for targeted drug delivery with fewer off-target impacts. This drives the increasing demand seen in the biologics market.

The biologics market continues to witness significant political and economic uncertainties that can impact its future growth in the coming years. With the ongoing Russia-Ukraine war and rising geopolitical tensions between the US and China, cross-border trade and drug supply chains have become more complex. Manufacturers are facing disruptions in raw material sourcing and distribution challenges due to trade restrictions and sanctions imposed by different countries. This has made ensuring continuous drug supply more difficult. Additionally, the political instability in key markets like Europe has weakened investor confidence and economic activities in the region. However, biologics continue providing critical treatments for diseases, and governments are supporting research and development to tackle health threats. To sustain growth, market players must focus on diversifying supplier networks, localizing production capacities based on demand, and collaborating with regional partners.

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