At 17.4% CAGR, Europe Biologics Market is Projected to be Worth US$ 4,15,468.4 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe biologics market was valued at US$ 1,15,057.6 million in 2023 and is expected to reach US$ 4,15,468.4 million by 2031, registering a CAGR of 17.4% from 2023 to 2031. Gene and cell therapy advancements in biologics and preference for outsourcing manufacturing operations are among the critical factors attributed to drive the Europe biologics market growth.

Gene and cell therapies are among the most promising and rapidly growing segments in the biologics market. These therapies have the potential to cure or significantly alleviate diseases by addressing their root causes at the genetic or cellular level rather than just managing symptoms. Gene therapies involve introducing or modifying genetic material in a patient's cells to treat or prevent disease. Significant progress has been made in treating genetic disorders such as sickle cell anemia, muscular dystrophy, and certain inherited forms of blindness. The development of gene-editing technologies, particularly CRISPR, has further improved the precision and effectiveness of these therapies, making them viable options for conditions that were previously untreatable. Cell therapies, including stem cell and CAR-T (Chimeric Antigen Receptor T-cell) therapies, provide innovative treatments for various conditions, including certain cancers, autoimmune diseases, and tissue regeneration. CAR-T therapies, in particular, have transformed the treatment of blood cancers by utilizing the patient's immune cells to attack cancer cells directly. The complexity and specialization of gene and cell therapies present high-value opportunities for biologics manufacturers. Despite challenges related to production, cost, and regulatory approval, the potential for groundbreaking, life-saving treatments makes this an expanding and lucrative market segment.

On the contrary, the high cost of biologics hampers the growth of Europe biologics market.

Based on product, the Europe biologics market is segmented into monoclonal antibodies, vaccine, recombinant hormones/proteins, cell and gene therapy, and others. The monoclonal antibodies segment held 37.0% market share in 2023, amassing US$ 42,611.18 million. It is projected to garner US$ 1,61,476.66 million by 2031 to register 18.1% CAGR during 2023-2031.

In terms of application, the Europe biologics market is categorized into cancer, infectious diseases, autoimmune diseases, and others. The cancer segment held 43.1% share of Europe biologics market in 2023, amassing US$ 49,620.49 million. It is anticipated to garner US$ 1,87,900.84 million by 2031 to expand at 18.0% CAGR during 2023-2031.

By source, the Europe biologics market is bifurcated into mammalian and microbial. The mammalian segment held 61.1% share of Europe biologics market in 2023, amassing US$ 70,248.17 million. It is projected to garner US$ 2,45,477.68 million by 2031 to expand at 16.9% CAGR from 2023 to 2031.

Based on manufacturing, the Europe biologics market is bifurcated into outsourced and in-house. The outsourced segment held 75.4% share of Europe biologics market in 2023, amassing US$ 86.732.13 million. It is predicted to garner US$ 3,19,824.18 million by 2031 to expand at 17.6% CAGR between 2023 and 2031.

Based on country, the Europe biologics market is categorized into Germany, the UK, Italy, France, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 28.7% share of Europe biologics market in 2023. It was assessed at US$ 33,021.54 million in 2023 and is likely to hit US$ 1,24,889.81 million by 2031, registering a CAGR of 18.1% during 2023-2031.

Key players operating in the Europe biologics market are AbbVie Inc; Pfizer Inc; Samsung Biologics Co Ltd; ADMA Biologics, Inc.; Wuxi Biologics Inc; Catalent Inc; AGC Biologics AS; AstraZeneca Plc; Amgen Inc; Nitto Avecia; and Quality Assistance s.a., among others.

• In November 2023, AstraZeneca announced a collaboration and investment agreement with Cellectis, a clinical-stage biotechnology company, to accelerate the development of next generation therapeutics in areas of high unmet need, including oncology, immunology and rare diseases.
• In May 2023, AGC Biologics launched BravoAAV and ProntoLVV viral vector platforms. Leveraging three decades of Lentiviral vector (LVV) and Adeno-Associated Viral vector (AAV) development, manufacturing and analytical experience, AGC Biologics' new platforms offer fast, efficient and reproducible clinical and commercial GMP production and release. CDMO's proprietary process and capsid-specific platform methods can accelerate development timelines, delivering GMP products in nine months.
  
  

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