Biologics Market, By Product (Monoclonal Antibodies, Vaccines, Recombinant Hormones/Proteins, Cellular-based Biologics, Gene-based Biologics, and Other Products), By Application (Cancer, Infectious Diseases, Autoimmune Diseases, and Other Applications), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Biologics are medicines developed from blood, proteins, viruses, or living organisms, and are used to prevent, treat, and cure many health conditions. Biologics are widely used to prevent, diagnose, treat, or cure infectious, autoimmune, and chronic diseases. Biologics offer most effective means to treat a variety of medical conditions that presently have no other treatments available.
Market Dynamics:
Increase in burden of infectious, autoimmune, and chronic diseases, rise in demand for biologics, increasing demand and higher acceptability for innovative therapies, increase in number of clinical trials, and increase in research and development are major factors expected to drive growth of the global biologics market during the forecast period.
For instance, in February 2022, the U.S. Food and Drug Administration (FDA) accepted to review the Prior Approval Supplement (PAS) to the Biologics License Application (BLA) for Abrilada as an interchangeable biosimilar to Humira for patients with moderate to severe rheumatoid arthritis.
Moreover, in March 2022, TG Therapeutics Inc. announced that USFDA extended the Prescription Drug User Fee Act (PDUFA) goal date to June 25, 2022, for the Biologics License Application for ublituximab as a treatment for patients with chronic lymphocytic leukemia and small lymphocytic lymphoma.
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