Biopharmaceuticals Industry Overview
Biopharmaceuticals are drugs produced with the help of biotechnology and derived from animals, microorganisms, and humans. These include proteins and nucleic acids used for in vivo and diagnostic purposes. Continuous research into the development of these vaccines and drugs has led to high efficacy and low adverse effects. The biopharmaceutical industry, although successful, faces operational setbacks. It requires large facilities and capital inflow for modifying the structure of molecules and cells to fit into the design of standard pills. Market Research Future (MRFR) has outlined the production technologies, developments of new technologies such as tissue engineering, and flexibility for customized medicines.
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Biopharmaceuticals Market Scope
The global biopharmaceuticals market is set to touch a valuation of USD 394,998.5 million by 2025. It can exhibit a CAGR of 8.99% from 2019 to 2025 (forecast period). High demand for biopharmaceuticals as well as production of its formulation in a generic form, i.e. biosimilar, is likely to drive the market demand exponentially. Acceptance of these drugs due to its effectiveness in treating chronic diseases and prevalence of chronic diseases can bode well for the market. Close to 6 out of 10 adults suffer from a chronic disease according to a report in 2019.
Investments by major pharmaceutical companies such as Eli Lilly and Company and Novartis can positively influence the global biopharmaceuticals market growth trajectory. Applications in prevention, diagnosis, and therapy can be a gamechanger for the industry. Advantages of biopharmaceuticals such as low toxicity and high selectivity as well as administration through multiple routes will be favorable for the market. Development of blockbuster drugs for treatment of diseases is likely to lead to a new mode of revenue for market players.
But strict regulations and availability of low-cost biosimilars can impede market growth.
Biopharmaceuticals Market Segmentation
The global biopharmaceuticals market is segmented by product type and application.
By product type, it is segmented into vaccines, monoclonal antibodies, recombinant growth factors, recombinant proteins, recombinant hormones, purified proteins, synthetic immodulators, and others. ‘Others’ can be further branched into acellular products, recombinant proteins, and allogenic & autologous products. Monoclonal antibodies held the largest market share owing to its use in the manufacture of identical immune cells.
By application, it is segmented into autoimmune disorders, hormonal disorders, metabolic disorders, disease prevention, inflammatory and infectious diseases, oncology, neurological diseases, cardiovascular diseases, and others. Oncology is expected to lead the global biopharmaceuticals market till 2025 owing to the large number of cancer cases and need for effective drugs.
Biopharmaceuticals Market Regional Analysis
The Middle East & Africa (MEA), Americas, Asia Pacific (APAC), and Europe are regions covered in the global biopharmaceuticals market report.
The Americas is the largest market for biopharmaceuticals due to expedited approval process of drugs by regulatory bodies, high incidence of cancer, and presence of major pharmaceutical companies. Adoption of new platforms for the latest technologies such as gene therapy, cell therapy, and antibody drug conjugates can bode work in favor of the market. Adherence to regulations pertaining to scrutiny and compliance of quality are other growth drivers.
APAC is expected to exhibit a robust pace during the forecast period owing to patients suffering from diabetes and cancer. Supportive regulations for the production of biopharmaceuticals can positively impact regional market growth. On the other hand, the Europe biopharmaceuticals industry is driven by a well-developed healthcare infrastructure, high prevalence of neurological diseases, and a large geriatric pool.
Biopharmaceuticals market Competition Outlook
Sandoz International GmbH, Sanofi, Johnson & Johnson, Amgen Inc., Bristol-Myers Squibb Company, Merck KGaA, AstraZeneca, Pfizer, Inc., Novo Nordisk A/S, Biocon, Abbvie Inc., Gilead Sciences, Inc., GlaxoSmithKline PLC, Hoffmann-La Roche Ltd, and Eli Lilly and Company are major players of the global biopharmaceuticals market.
Keywords: biopharmaceuticals market, biopharmaceuticals market trends, biopharmaceuticals market share, biopharmaceuticals industry
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