At 15.1% CAGR, Middle East & Africa Biologics Market is Projected to be Worth US$ 17,939.1 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa biologics market was valued at US$ 5,818.6 million in 2023 and is expected to reach US$ 17,939.1 million by 2031, registering a CAGR of 15.1% from 2023 to 2031. Increasing prevalence of chronic diseases and gene and cell therapy advancements in biologics are among the critical factors attributed to drive the Middle East & Africa biologics market growth.

According to a study titled "Chronic Disease: A Bio-Logical Approach," published in Ellerston Capital Limited, 41 million people worldwide die from chronic diseases every year, accounting for 74% of all deaths worldwide. Cancer was responsible for almost 10 million deaths in 2020, i.e., 1 in every 6 deaths. According to GLOBOCAN, 19.3 million cancer cases were registered worldwide in 2020, and the number is estimated to rise to 24.6 million by 2030. In addition, the prevalence of autoimmune diseases increases annually by 3-9%. The number of Alzheimer's disease cases is expected to reach 78 million by 2030 and 139 million by 2050. According to the World Health Organization (WHO), every year, ~17 million people across the world succumb to death due to noncommunicable diseases before the age of 70. Biologics such as antibodies and vaccines offer more targeted treatment because they are designed to interact with the immune system in specific ways to deliver a therapeutic or prophylactic effect. Biological drugs have the promising potential to treat a few chronic autoimmune diseases by blocking the overactive components (proteins in many cases) of the immune system, which damage joints, skin, and other body parts. The treatment of cancer with biologics involves using the body's immune cells to kill cancerous cells; cytokines such as interferons, interleukins, and monoclonal antibodies (mAbs) are the most used biologic therapies employed to treat cancer. Anti-amyloid mAbs have also shown promising therapeutic effects in clinical studies conducted on Alzheimer's disease patients. Chronic diseases such as ulcerative colitis and Crohn's disease include recurring episodes of inflammation of the mucosal layer of the colon. The US Food and Drug Administration has approved a few biological drugs for the treatment of Crohn's disease; these include infliximab, adalimumab, and natalizumab. Further, biological disease-modifying antirheumatic drugs are one of the major approaches to treating rheumatoid arthritis. With the shift in doctors' and patients' preference from conventional to aggressive approaches, the demand for biologics in the treatment of rheumatoid arthritis is also on the rise. Therapeutics use is partially or fully humanized proteins targeting different immune response pathways. Therefore, the increasing prevalence of chronic diseases drives the growth of the biologics market.

On the contrary, the high cost of biologics hampers the growth of Middle East & Africa biologics market.

Based on product, the Middle East & Africa biologics market is segmented into monoclonal antibodies, vaccine, recombinant hormones/proteins, cell and gene therapy, and others. The monoclonal antibodies segment held 36.0% market share in 2023, amassing US$ 2,096.69 million. It is projected to garner US$ 6,792.97 million by 2031 to register 15.8% CAGR during 2023-2031.

In terms of application, the Middle East & Africa biologics market is categorized into cancer, infectious diseases, autoimmune diseases, and others. The cancer segment held 42.7% share of Middle East & Africa biologics market in 2023, amassing US$ 2,485.59 million. It is anticipated to garner US$ 8,031.83 million by 2031 to expand at 15.8% CAGR during 2023-2031.

By source, the Middle East & Africa biologics market is bifurcated into mammalian and microbial. The mammalian segment held 61.6% share of Middle East & Africa biologics market in 2023, amassing US$ 3,581.74 million. It is projected to garner US$ 10,684.49 million by 2031 to expand at 14.6% CAGR from 2023 to 2031.

Based on manufacturing, the Middle East & Africa biologics market is bifurcated into outsourced and in-house. The outsourced segment held 74.9% share of Middle East & Africa biologics market in 2023, amassing US$ 4,355.51 million. It is predicted to garner US$ 13,702.43 million by 2031 to expand at 15.4% CAGR between 2023 and 2031.

Based on country, the Middle East & Africa biologics market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 30.5% share of Middle East & Africa biologics market in 2023. It was assessed at US$ 1775.83 million in 2023 and is likely to hit US$ 5805.08 million by 2031, registering a CAGR of 16.0% during 2023-2031.

Key players operating in the Middle East & Africa 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 Feb 2024, AbbVie Inc. and Tentarix Biotherapeutics announced a multi-year collaboration focused on the discovery and development of conditionally active, multi-specific biologic candidates in oncology and immunology. The collaboration will integrate AbbVie's expertise in oncology and immunology with Tentarix's proprietary Tentacles platform.
• In May 2024, Siren Biotechnology, pioneers of Universal AAV Immuno-Gene Therapy for Cancer, and Catalent Inc., the leader in enabling the development and supply of better treatments for patients worldwide, entered a strategic partnership to support the development and manufacturing of Siren Biotechnology's AAV immuno-gene therapies.
  
  

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