Market Analysis
The global biopharmaceuticals market is projected to touch USD 394,998.5 million at an 8.99% CAGR between 2019-2025, as per the recent Market Research Future (MRFR) report. Biopharmaceuticals, simply put, are medical drugs that are produced using biotechnology. It comprises nucleic acids, proteins, living cells, sugars, or tissues used for in vivo diagnostic or therapeutic purposes and produced through ways other than extraction from native biological sources directly.
Numerous factors are adding to the global biopharmaceuticals market growth. These factors, according to the recent Market Research Future report, include constant technological advances, rising prevalence of chronic diseases, increasing geriatric population, rising acceptance of biopharmaceuticals for its ability to treat previously untreatable diseases, and huge investments made on R&D of biopharmaceuticals by major companies.
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On the contrary, strict government regulations, side effects from high use of biopharmaceuticals, and the availability of cost-effective biosimilars are factors that may limit the global biopharmaceuticals market growth over the forecast period.
Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the global biopharmaceuticals market based on application and product type.
By product type, the global biopharmaceuticals market is segmented into synthetic immunomodulators, vaccines, recombinant hormones, recombinant proteins, purified proteins, recombinant growth factors, monoclonal antibodies, and others. Recombinant growth factors are again segmented into granulocyte colony-stimulating factor and erythropoietin. Purified proteins are again segmented into P38 protein, P53 protein, leukemia inhibitory factor (LIF), and others. Recombinant proteins are again segmented into transferrin, defensin, amyloid protein, serum albumin, and others. Vaccines are again segmented into conventional vaccines, recombinant vaccines, and others. Recombinant vaccines are again segmented into cholera vaccines, diphtheria vaccines, tetanus vaccines, hepatitis B vaccines, Ebola vaccines, malaria vaccines, cancer vaccines, and others. Conventional vaccines are again segmented into pox vaccines, polio vaccines, and others. Synthetic immunomodulators are again segmented into tumor necrosis factor, interleukins, interferons, cytokines, and others. Of these, monoclonal antibodies will lead the market over the forecast period for the rising number of research activities, which are supported through the use of monoclonal antibodies. Meanwhile, vaccines are predicted to grow at the fastest CAGR for the increasing awareness of chronic diseases.
By application, the global biopharmaceuticals market is segmented into neurological diseases, cardiovascular diseases, disease prevention, hormonal disorders, metabolic disorders, autoimmune disorders, inflammatory and infectious diseases, oncology, and others. Of these, the oncology segment will dominate the market during the forecast period for the rising prevalence of cancer. Meanwhile, the neurological diseases will grow at the fastest CAGR over the forecast period for the increasing incidence of epilepsy and Parkinson’s disease.
Regional Analysis
By region, the global biopharmaceuticals market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA). Of these, the Americas will spearhead the market over the forecast period for the rising prevalence of various chronic diseases, especially cancer. Besides, the presence of several key pharmaceutical companies in the region is also adding market growth.
The global biopharmaceuticals market in Europe is predicted to have the second-largest share in the market during the forecast period for the rising prevalence of neurological diseases, well-developed healthcare infrastructure, and rising geriatric population.
The global biopharmaceuticals market in the APAC region is predicted to grow at the fastest pace over the forecast period for the rising prevalence of cancer and diabetes and a supportive regulatory framework for the approval of biopharmaceuticals.
The global biopharmaceuticals market in the MEA will have significant growth during the forecast period for the increasing patient population that is suffering from different chronic diseases. The market in the Middle East will have higher growth for the presence of two developed countries- Oman and Saudi Arabia.
Key Players
Notable players profiled in the global biopharmaceuticals market report include Biocon (India), Merck KGaA (Germany), GlaxoSmithKline PLC (UK), Novo Nordisk A/S (Denmark), Sandoz International GmbH (Germany), Bristol-Myers Squibb Company (US), Sanofi (France), Abbvie Inc. (US), AstraZeneca (UK), Gilead Sciences, Inc. (US), Johnson & Johnson (US), F. Hoffmann-La Roche Ltd (Switzerland), Eli Lilly and Company (US), Amgen Inc. (US), and Pfizer Inc. (US).
Industry News
Jan 2020: Celltrion Group will soon build the largest biopharmaceutical plant in China with a production capacity of 120,000 liters.
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