Biologic Therapy Market Report 2021: COVID-19 Impact and Recovery To 2027
Global Biologic Therapy Market Information: By Product Type (Kits and Reagents, Services), by Therapy (Protein Therapy, Vaccines Therapy), by Application (Cellular and Gene Therapy), and by End-User (Hospitals and Clinics and Specialty Centers) – Global Forecast Till 2027
Market Synopsis
The global biologic therapy market is presumed to
expand at 6.1 % CAGR during the forecast period (2017-2023) owing to the
increasing patient population, asserts Market Research Future (MRFR). Biologic
therapy is a treatment which uses products made from living organisms in order
to treat diseases. Biologic therapies suppress or stimulate the immune system
of the body, thereby helping it to fight against chronic diseases like
infection and cancer.
Drivers and Constraints Impacting the
Market
With the increasing patient population,
growing demand for targeted and biological drug therapies, and prevalence of
several types of cancers are estimated to drive the global market for biologic
therapy during the forecast period. Besides, technological advancements for
treating chronic diseases along with research and development activities in the
industry is likely to propel the market growth in the coming years.
On the flip side, high cost of drug
development, adverse effects of drug therapy, risk of failure in treatment, and
strict government mandates are presumed to inhibit the market growth during the
review period.
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Global Biologic Therapy Market:
Segmental Analysis
the global biologic therapy market has
been segmented on the basis of therapy, product type, application, end-user,
and region.
By mode of product type, the global
biologic therapy market has been segmented into instruments, services, and kits
and reagents.
By mode of therapy, the market has been
segmented into cell therapy, protein therapy, vaccines therapy, and others.
By mode of application, the global
market has been segmented into cellular and gene therapy, vaccine and
therapeutics development, blood and blood-related products testing, tissue and
tissue-related products testing, and stem cell research.
By mode of end-users, the global market
has been segmented into hospitals and clinics, research centers, and specialty
centers.
Regional Insights
Geographically, the biologic therapy
market span across regions namely, America, Europe, Asia Pacific, and the
Middle East and Africa.
Among all the regions, North America is
the growing region in America owing to the growing geriatric population and
rising prevalence of cancer. Moreover, research and development activities in
the biologic therapy sector, technological advancements, growing health
insurance coverage for serious disease, and increasing government initiatives
are likely to propel the market growth over the assessment period. Also, with
the rising expenditure by the government for R&D is expected to drive the
market in this region.
Europe is estimated to be the second
largest market globally and is estimated to hold a significant share of the
market. The growth is attributed to the increasing skilled medical
professionals and availability of advanced and innovative treatment facilities.
Moreover, the growing geriatric population is giving rise to patient
population, thereby enhancing the growth of the market.
The Asia Pacific region is estimated to
be the fastest growing region globally owing to the lifestyle-induced disorders
and rising prevalence of cancer in this region. Country like China is the
fastest growing market due to its huge geriatric population coupled with
growing patient population. Moreover, with the rising health concern and
availability of new treatment methods are likely to propel the market growth
during the forecast period. Also, the growing living standard, increasing
expenditure on healthcare, and growth of the healthcare industry is expected to
foster the market growth.
Meanwhile, the Middle East and African
region are anticipated to register the least growth owing to the limited access
and affordability of treatment facilities and lack of awareness among the
population.
Industry News
St. Barnabas Hospital is offering a new
treatment that might change the lives of asthma patients. The biologic therapy
treatment involves injections every three weeks and has proven to work
efficiently on patients suffering from asthma.
Competitive Dashboard
The major players operating the global
market are Novartis International AG, Amgen Inc., GlaxoSmithKline Plc.,
Spectrum Pharmaceuticals Inc., Bristol-Myers Squibb, Eli Lilly, Celgene
Corporation, Seattle Genetics Inc., and others.
Browse Detailed TOC with COVID-19
Impact Analysis at: https://www.marketresearchfuture.com/reports/biologic-therapy-market-840
About Market Research Future:
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Contact:
Akash Anand
Market Research Future
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