Oral Biologics Market

Oral Biologics Market Forecast and CAGR

According to the latest research by Persistence Market Research, the oral biologics market is set to witness positive growth of CAGR 32.5% during 2021-2031. The products are that are produced from living organism or contains any component of a living organism is known as biologics. These can be administrated orally, subcutaneously or intravenously.

Due to various advantages like patient preference and ease of administration, oral biologics are preferred over other methods. The Oral biologics market is majorly driven by the prevalence of cardiometabolic diseases and rheumatoid arthritis, acquisition and mergers between the companies, approvals from the government authorities.

What Is Driving Demand for Oral Biologics?

The market is majorly driven by an increase in the prevalence of cardiometabolic diseases and rheumatoid arthritis, acquisition and mergers between the companies, approvals from the government authorities.

According to a 2020 report of Arthritis Foundation, 1 in 3 individuals between the age group of 18-64 have arthritis in U.S. Cardiometabolic diseases include chronic renal failure, cardiovascular disease (CVDs) and diabetes mellitus. These diseases are the leading cause of death globally.

According to WHO report 2019, 17.9 million died due to CVDs, accounting for 32% of global deaths. This acts as a driver for the oral biologics market. The oral biologics market is also driven by the increase in FDA approvals for oral biologics.

For instance, in 2019, FDA approved Novo Nordisk's oral biologics, Semaglutide, for the treatment of type 2 diabetes. Moreover, an increase in the awareness about oral biologics and R & D investment by the companies for developing new techniques is expected to increase demand for oral biologics during the forecast period.

Impact of COVID on Oral Biologics Market

COVID-19 had an impact on the oral biologics market. Due to global lockdown and restrictions, the supply chain and manufacturing were affected. This also affected the distribution channels thereby leading to a shortage of drugs. Apart from this, the companies experienced great financial losses. The market had an overall negative impact due to COVID-19.

Who Are The Key Manufacturers Of Oral Biologics?

Some of the leading manufacturers of oral biologics include

• Lumen Bioscience Inc.
• Novo Nordisk A/S
• Lilly
• Rani Therapeutics
• Biocon Limited
• Pfizer Inc.
• BeiGene
• EnteraBio Ltd
• AbbVie Inc.

The market players are involved in acquisitions and mergers. For instance, in 2020, Novo Nordisk A/S acquired Emisphere Technologies, a drug delivery company.

Regional Outlook Of Oral Biologics Market

North America with countries like the US and Canada is dominating the oral biologics market. The presence of major players, increase in the acquisition and mergers by the companies and FDA approvals are driving the market. For instance, in 2019, AbbVie received FDA Approval for Rinvoq, an oral biologics for the treatment of rheumatoid arthritis. In 2018, FDA approved Olumiant, an Eli Lilly product for the treatment of rheumatoid arthritis.

Another region that is expected to dominate the market is Europe followed by Asia. This is due to the presence of manufacturing companies some players in this region and new product launches are expected to drive the market.

Oral Biologics Market Report Highlights:

• Detailed overview of the parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprints

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.