COVID-19 booster shots are expected to drive demand for certain biologics ingredients and excipients at a faster pace than previously expected, with the growth rate estimated to increase 2%-5% by 2025.
“The pandemic has created new possibilities for a variety of chemical products along the entire value chain,” says Kunal Mahajan, project manager for Kline’s upcoming Biologics: Market Opportunities for Chemical Suppliers report. “Not only are various chemicals being used as key components of the finished biologic drug dosage, but they also have played a major role in the development and manufacturing of the biologic drug itself.”
According to Kline research, ingredients that will witness growth in demand directly related to the boosters are sucrose and lactose (sugars), glycerol (polyols), amino acids, polysorbate 80 (surfactants), tris buffers (organic buffers), sodium chloride (mineral salts), aluminum hydroxide (adjuvants in vaccines), and lipid and lipid carriers.
More than 5.33 billion doses of the COVID-19 vaccine have been administered worldwide as of August 31, 2021. Of these, 2.13 billion people are fully vaccinated, with 3.12 billion having received at least one dose. Given that these numbers represent only 27.3% of the global population, the opportunities for the biologics industry could be significant.
Currently, only a few of the ingredients and excipients covered in the Biologics: Market Opportunities for Chemical Suppliers study are used for COVID-19 vaccine production. As such, the overall impact by 2025 may not be more than 1%-2% for all the biologics ingredients and excipients discussed in the study.
However, this estimate is premised on only the vaccines that currently have received approval for use. Given the number of companies now devoting all of their R&D efforts toward launching new vaccines into the market, this projection may prove low.
The other factor driving demand for biopharmaceuticals — and, consequently, biologics ingredients and excipients — is the projected meaningful increase in the number of biosimilars over the next 10 years. Many novel biologics are facing patent expiry during this period. In addition, a worldwide increase in government spending on healthcare and universal healthcare is expected. Overall demand for biologics ingredients and excipients is thus projected to grow at a CAGR of more than 10% over the coming five years.
To gain more insights into the global biologics market, subscribe to Kline’s Biologics: Market Opportunities for Chemical Suppliers. The report provides an analysis of biopharmaceuticals as an advancing market for bioprocessing ingredients and excipients by sizing the current market and future opportunities. In examining the market of each bioprocessing ingredient and excipient used in the industry, the report provides grades, prices, estimated consumption by functionality, estimated supplier sales, short- and long-term market trends, and a five-year demand outlook through 2025, with supporting rationale.