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Worldwide Biologics Industry to 2024 - Hike in Spending on Healthcare is Driving Growth


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The global biologics market has increased over the years and projections are made that the market would grow at a steady pace in the next four years i.e. 2020-2024. The market is supported by various growth drivers such as rise in sedentary lifestyle, hike in spending on healthcare, increasing biologics approval, growing incidence of chronic conditions among the aging population, increased availability of advanced diagnostics, rising auto-immune diseases, higher usage of monoclonal antibodies for the treatment of different diseases and advancement in healthcare & biotechnology.
Yet the market faces some restraints which are obstructing the growth of the market. Some of the major challenges faced by the industry are emergence of biosimilars, high cost of biologics, lack of oral absorption and operational challenges. Ongoing Covid-19 pandemic is posing challenges for the market as far as the ye ....

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