Biologics Market Growth, Global Demand And Forecast By 2023: COVID-19 Impact And Recovery

The Business Research Company’s latest report Biologics Global Market Report 2020 covers Biologics market drivers, Biologics market trends, Biologics market segments, Biologics market growth rate, Biologics market major players, and Biologics market size. The report provides in-depth analysis of the impact of COVID-19 on the Biologics industry, along with revised market numbers due to the effects of the coronavirus.

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Biologics Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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The global biologics market is expected to decline from $269.2 billion in 2019 to $239.2 billion in 2020 at a compound annual growth rate (CAGR) of -11.2%. The decline is mainly due to the worldwide supply and demand failures of drugs due to the COVID-19 outbreak. Biologic drug shortages because of an inadequate production of biologics is hampering the market growth. The inadequate or slowed production is due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 15% from 2021 and reach $464.7 billion in 2023.

The report covers the Biologics market’s segments-
1) By Type: Monoclonal Antibodies (MAbs), Therapeutic Proteins, Vaccines.
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others.
3) By Route Of Administration: Oral, Parenteral, Others.
4) By Drug Classification: Branded Drugs, Generic Drugs.
5) By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs.
Subsegments Covered: Anti-Cancer MAbS, Immunological MAbS, Anti-Infective Monoclonal Antibodies (MAbs), Neuropharmacological MABS, Cardiovascular And Cerebrovascular MAbS, Others – Monoclonal Antibodies (MAbs), Metabolic Disorders Therapeutic Proteins, Cancer Therapeutic Proteins, Cardiovascular Therapeutic Proteins, Immunological Therapeutic Proteins, Others – Therapeutic Proteins, Anti-Infective Vaccines, Autoimmunity Vaccines, Others-Vaccines.

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