The global biologics market is expected to register a rapid revenue CAGR of 6.9% during the forecast period. This growth can be attributed to factors such rising number of product launches, high prevalence of various types of chronic diseases, and increasing adoption of biologic drugs.
Biologics are a class of therapeutic drugs derived from living organisms such as animals, microorganisms, and human cells. These are large, complex molecules including proteins, antibodies, or nucleic acids that help in targeting specific molecules involved in disease processes.
Biologics have high specificity and their complex nature makes them a powerful tool for treating many types of autoimmune diseases, cancer, infectious diseases, and genetic disorders. These biologics encompass a wide range of products such as monoclonal antibodies, hormones, enzymes, and vaccines and are preferred due to longer half-life allowing for less frequent dosing and better patient compliance.