The global biopharmaceuticals market is expected to grow at a significant CAGR of 8.1% during the forecast period (2022-2028). Biopharmaceuticals are chemicals with a high therapeutic value that are made from live organisms such as bacteria and animal cells. Biologics and biotech medicines are two terms for huge, complicated molecular pharmaceuticals.
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The global biopharmaceuticals market is fueled by several reasons, including an aging population, an increase in the prevalence of chronic diseases including cancer and diabetes, and a global increase in biopharmaceutical use. According to the Globocan 2020 report, there were 19,292,789 new cancer cases reported worldwide, with 9,958,133 cancer-related deaths. Furthermore, according to the United Nations World Population Prospects 2019 report, one in every six people in the world will be 65 or older by 2050, up from one in every eleven in 2019, and one in every four people in Europe and Northern America will be 65 or older by 2050. Globally, the number of people aged 80 and more is expected to quadruple, from 143 million in 2019 to 426 million in 2050.
Furthermore, the biopharmaceuticals market is expected to benefit from an increase in strategic cooperation among biopharmaceutical companies. The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, and new product launches, to remain competitive in the marketplace. For instance, Sanofi SA signed a definitive deal to buy Principia Biopharma Inc., a late-stage biopharmaceutical business working on therapeutics for immune-mediated disorders, in August 2020. Bristol Myers Squibb was given a global exclusive license in February 2021 to develop, manufacture, and commercialize Rockefeller’s new monoclonal antibody (“mAb”) dual treatment that neutralizes the SARS-CoV-2 virus for COVID-19 therapy or prevention. Takeda Pharmaceutical and Frazier Healthcare Partners announced a partnership in July 2021 to form HilleVax, a biopharmaceutical business that would develop and sell Takeda’s norovirus vaccine candidate, HIL-214 (previously TAK-214).
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape: Abbott Laboratories, Amgen, Inc., Biogen, Inc., Eli Lilly and Company, F. Hoffmann-La Roche, Ltd., Johnson & Johnson, Merck & Co., Inc among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Biopharmaceuticals Market Report by Segment
By Type
- Monoclonal Antibody
- Recombinant Hormones
- Vaccines
- Recombinant Enzymes
- Others
By Application
- Oncology
- Autoimmune Disorders
- Disease Prevention
- Cardiovascular Diseases
- Neurological Diseases
- Others
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