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New York, March 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Biologics Global Market Report 2022” — https://www.reportlinker.com/p05308971/?utm_source=GNW
The global biologics market is expected to grow from $338.45 billion in 2021 to $382.04 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact , which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $540.66 billion in 2026 at a CAGR of 9.1%.
The biologics market consists of sales of biologics and related services by entities (organizations, sole traders and partnerships) that produce biologics to treat and prevent various microbial diseases and cancers. Biological products include a wide range of products such as vaccines, allergenics, somatic cells , tissues, and recombinant therapeutic proteins.
This industry includes establishments that produce products that are composed of sugars, proteins, nucleic acids, and combination of all these substances isolated from humans, animal and microorganisms or produced from biotechnology methods. Specifically, most biologic medicines are developed using recombinant DNA (rDNA) technology.
The main types of biologics are monoclonal antibodies (MAbS), therapeutic proteins and vaccines. Monoclonal antibodies, or mAbs, are created in a laboratory to combat a specific infection.
The various route of administration includes oral, parenteral, and others that are distributed by hospital pharmacies, retail …
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