The global market for organic products in 2017 was estimated at $89.80 billion. It is expected to increase to $375.98 billion with a CAGR of 15.5% over the forecast period.
Ongoing research and development, investment in biologics and the occurrence of chronic diseases are among the factors that play a major role in the growth of the biologics market. According to the WHO, chronic diseases will account for about 80% of deaths by 2020 worldwide.
The constant development of gene and cell therapy is catalyzing the market because of its therapeutic results and high efficacy. CAR-T-Cell therapies have recently accepted by the FDA for oncology indications.
Quality control procedures
The drugs in question are very complicated and require highly controlled conditions for their production and development. Significant financial resources are required to initially regulate quality control procedures.
Organic products are subject to heat and light. Strict rules and investments with limited patient access for organic products, particularly in emerging countries, will affect the growth of the global organic market.
Biopharmaceuticals are becoming increasingly popular compared to chemically synthesized molecules, and are expected to generate significant revenue. In addition, by using biological products, many metabolic disorders can be treated, increasing the market demand for biological products.
The bioengineering technologies developed, as well as for the production of biopharmaceuticals, would supply the pharmaceutical industry. Thanks to advances in automation, the matching process can be carried out using the High-Throughput Screening (HTS) system for the selection of duplicates.
Government initiative to support biologics
Biologics Market Trends is a government initiative to support biologics that provides funding and investment in research and development to potentially improve the quality of biologic drugs.
This will positively stimulate demand for growth in the organic market. The success rate of biologic drugs is growing. That increases the demand for biologic manufacturing products among large pharmaceutical companies.
For example, Bristol-Myers Squibb has invested approximately $800 million in large-scale biological processing facilities in Ireland. Novartis AG has also invested approximately $750 million in biological processing facilities in Singapore.
They mean to complete production by the end of 2019. By accepting innovative therapies and increasing the number of chronic diseases treated, the factors that drive the growth of the biologics market can develop.
The global market for organic products is segmented by application, source, type and region. On the basis of applications, the market for biological products is divided into cancer, anaemia, diabetes and many others.
By source, the market is divided into animal, human and microorganism. Based on the type, the market for biological products is divided into blood products, gene therapy, vaccines, proteins, monoclonal antibodies and much more.
Regions that accelerate organic products
Globally, the regions involved in accelerating the biologics market are Asia-Pacific, Europe, the United States, South America, North America, the Middle East, and Africa.
The US market for organic products dominates the North American market with significant investment and research and development.
The growing concern and awareness about oncology and its treatment will help strengthen the global market for organic products in North America.
The Asia-Pacific region is expected to grow rapidly due to less stringent rules for clinical drug trials. The awareness of biologics for the treatment of chronic diseases and the manufacture of biologics in developing countries will also help drive the market.
The Medical cannabis sector is a key growth area
Another key growth area for pharmaceutical companies will come from medical cannabis. Cannabis is already legal as a treatment in most European and North American jurisdictions. Medical cannabis is becoming increasingly popular as an alternative to opioid-based pain management solutions.
The European medical cannabis market is expected to double in size over the course of 2019 and be worth $123 billion by 2028. Both cannabis investors and biopharmaceutical investors are beginning to view medical cannabis as a key growth area.
That being said, it is a complicated market and cannabis investment tools like Hemp.IM is key for both experienced and new investors in this dynamic sector.
First published in TRIBUNE, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
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