Product ID: SQMIG35H2127
Report ID:
SQMIG35H2127 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
62 |
Figures:
75
Global Biologics Market size was valued at USD 462 Billion in 2022 and is poised to grow from USD 510.05 Billion in 2023 to USD 1125.55 Billion by 2031, at a CAGR of 10.40% during the forecast period (2024-2031).
Biologic drugs are complex in nature and are produced through biotechnological processes, often involving recombinant DNA technology. The purpose of the biologics market is to provide innovative and effective therapies for various diseases and medical conditions. Biologics have revolutionized the treatment landscape, offering targeted and personalized approaches for patients. They are widely used in the treatment of chronic diseases like cancer, autoimmune disorders, and infectious diseases. The market aims to develop and deliver biologics that improve patient outcomes and enhance the quality of life. The driving factors behind the growth of the biologics market is the increasing prevalence of chronic diseases worldwide. The rise in diseases such as cancer, diabetes, and rheumatoid arthritis has created a significant demand for biologics. the need for specialized storage and transportation conditions for biologics, as they are sensitive to temperature and environmental conditions. Maintaining the integrity and stability of biologics throughout the supply chain can be complex and costly.
The global biologics market plays a vital role in providing innovative therapies for various diseases. It aims to improve patient outcomes and enhance the quality of life. While there are driving factors such as the increasing prevalence of chronic diseases and advancements in biotechnology, there are also restraining factors like high costs and complex manufacturing processes. Overcoming these challenges and capitalizing on opportunities in personalized medicine and emerging technologies will shape the future of the biologics market.
US Biologics Market is poised to grow at sustainable CAGR for the next forecast year
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Product ID: SQMIG35H2127