(Companies: Johnson & Johnson, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, GlaxoSmithKline Plc. And AbbVie)
The global biologics market was valued nearly at $221 billion in 2017. North America is the largest market for biologics, accounting for around 40% of the global market. The USA is the largest country in terms of value in the biologics market.
The biologics industry comprises companies manufacturing biological products. Biological products include a wide range of products such as vaccines, allergenics, somatic cells, tissues, and recombinant therapeutic proteins. Biologics can be composed of sugars, proteins, or nucleic acids or complex combinations of these substances, or may be living entities such as cells and tissues. These products are isolated from natural sources such as human, animal, and microorganisms by biotechnological methods and other cutting-edge technologies. Specifically, most biologic medicines are developed using recombinant DNA (rDNA) technology.
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Biologics Market Size
The global biologics market is expected to grow around $319 billion in 2021 at a growth rate of around 10%.Growth in the biologics market in the historic period resulted from aging population, government initiatives, ability to command high prices, increased mergers and acquisitions, and increased share of biologics in the pipeline. Factors that negatively affected growth in the historic period were difficulty in manufacturing biologics, and pricing pressures from regulators. Going forward, technological advances increase in healthcare access, and reimbursement of biologics will drive growth.
Players in the market include Johnson & Johnson, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, GlaxoSmithKline Plc. And AbbVie.
Johnson & Johnson (J&J) was the largest competitor in the biologics market in 2017 with around 15% share of the market. The company is engaged in the development, manufacturing and marketing of personal care hygienic products, pharmaceuticals and surgical equipment. J&J was founded in 1886 and is headquartered at New Jersey, USA. Johnson & Johnson aims to grow its product offerings by developing new biologics medicines.
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Biologics Competitive Landscape
Major Competitors are:
- • Johnson & Johnson
- • F. Hoffmann-La Roche Ltd.
- • Bristol-Myers Squibb Company
- • GlaxoSmithKline Plc.
- • AbbVie
Other Competitors Include:
- • Amgen
- • Sanofi S.A.
- • Eli Lilly and Company
- • Merck & Co.
- • Pfizer
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