Global Biologics Market to Reach $656.8 Billion by 2030
The global market for Biologics estimated at US$377.6 Billion in the year 2023, is expected to reach US$656.8 Billion by 2030, growing at a CAGR of 8.2% over the analysis period 2023-2030. Recombinant Therapeutic Proteins, one of the segments analyzed in the report, is expected to record a 8.8% CAGR and reach US$246.6 Billion by the end of the analysis period. Growth in the Blood & Blood components segment is estimated at 7.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $116.2 Billion, While China is Forecast to Grow at 7.6% CAGR
The Biologics market in the U.S. is estimated at US$116.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$111.9 Billion by the year 2030 trailing a CAGR of 7.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.7% and 6.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.
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