(MENAFN- EIN Presswire) 2020 Biologics Market Size, Share and Trend Analysis Report to 2026- Growth Opportunities and Competitive Analysis
HONG KONG, CHINA, April 21, 2020 / EINPresswire.com / --
Biologics market is driven by the factors including increase in the burden of chronic diseases, the loss of patent exclusivity of leading biological drugs and the increasing demand for innovative therapies.
Biologics provides safe solutions in many areas of unmet medical demand, and expected to continue their growth over the forecast period 2020-2026.
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Biologic drug success in treating major chronic diseases, especially cancer and autoimmune diseases, has allowed large pharmaceutical companies to do so. For instance, in 2019 three biological drugs were approved by the United States Food and Drug Administration (FDA), one of which is an anticoagulant solution by Griffols.
That demand for biologics often proves to be successful in treating rheumatoid arthritis and Crohn's disease which further boost the market growth.
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The increase in prevalence of cancer and other chronic diseases led to a growing demand for monoclonal antibodies which in turn contributes to production for biologics market.
North America to drive the biologics market share regionally
North America is set to hold the major portion of the biologics market owing to the presence of significant existing participants in this region. In addition, higher demand for disease prevention goods is due to higher revenue share.
Rising biomedical research and development activities alongside the advent of technologically advanced genetic platforms, such as next-generation sequencing, have also contributed significantly in developed regions.
Further, a U.S. pharmaceutical firm account for 80% of the world's biotechnology research and advancement in health care and act as a positive influence for North America's market share.
The Production of reagents and cell lines upsurge the productivity of the biological products in order to fuel the biologics market value.
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Certified authorizations and key developments by vital companies to trigger the biologics market share
Med-technological advancements, collaborations, and test/product approvals among the key firm to prompt the biologics market growth.
For instance, in 2020, the American Academy of Dermatology issued guidance on the use of biologic agents in response to the COVID-19 outbreak.
Further, in 2020, Group of experts worked together towards the development of vaccines against COVID-19.
In addition, in 2020, Apeiron Biologics secured approvals for a Phase II clinical trial for the treatment of Covid-19.
Also, in the same year 2020, Medical trials appraised activities of biologics and other drugs.
Furthermore, in 2020, Heat Biologics collaborated with the University of Miami to develop a Covid-19 point-of-care diagnostic kit.
Additionally, in 2020, Biocon Biologics' biosimilar sites based in Bangalore in India cleared by FDA.
Moreover, in 2020, Innovent Biologics proclaims the U.S. FDA approved the Pemazyre (pemigatinib) for Metastatic Cholangiocarcinoma.
Other key players of biologics market include Eli Lilly & Company, Samsung Biologics, F Hoffman La Roche, Celltrion, Addgene, Amgen, Abbvie Inc., Sanofi, Pfizer Inc., Merck & Co. Inc, Novo Nordisk A/S, and Johnson & Johnson Services Inc. among others.
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Ambarish Ram
OG Analysis
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