Biopharmaceutical Market size is $239.8 Billion in 2019, growing at a CAGR of 13.28% during the forecast period 2020-2025. The rapid pace of scientific advancements enables a greater insight about diseases at the molecular level. As a result, Biopharmaceutical companies execute basic research in collaboration with researchers to seek powerful tools and molecular medicines to better understand human diseases. While the basic science offers a foundation of drug developments, the biopharmaceutical industry is thus, largely driven by an increasing number of chronic diseases, growing geriatric population and rising awareness towards targeted therapy. Furthermore, to effectively address untreatable diseases, the demand for biopharmaceutical medicines across the world accelerates Biopharmaceuticals in the global market.
Biopharmaceutical Market Segment Analysis – By Product Type
Based on Product Type, the biopharmaceutical market is segmented into Cell and Gene Therapies, Hormones, Vaccines, Enzymes, Blood Components, Cell and Gene Therapies, Monoclonal Antibodies, Growth Factors, Gene Therapies, Thrombolytics and Anticoagulants, Recombinant Protein and others. Monoclonal antibodies holds the largest Biopharmaceutical market share, owing to exponential research and applications in the oncology department. Depending on the global biopharmaceuticals market, the monoclonal antibody segment is a powerful tool of biochemistry, molecular biology and medicine. Also termed as ‘MAbs’, the key advantages are diagnosis and treatment of ‘cancer’, ‘myocardial infractions’, developing therapy for ‘neoplastic and hematopoietic disease’ and many more remedial treatments in quicker and less expensive way, abetting towards the growth of the market. Recombinant Hormone Therapy is set to be the fastest growing with a CAGR of 15.5% during the forecast period 2020-2025. This is owing to treat major diseases like congestive heart failure, diabetes, multiple sclerosis and many severe illnesses.
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Biopharmaceutical Market Segment Analysis – By End Use Industry
Based on End-Use Industry segment, biopharmaceutical market is segmented into Health and Care, Biopharma Companies, Diagnostic Labs, Clinical Research Institute and CROs. Biopharma Companies holds the major share in biopharmaceutical market owing to considerable augmentation of developing potential new medicines. As previously mentioned, Biopharma Companies role in drug innovation is increasing owing to recent advancement across molecular medicine that has led the biopharma companies to personalize medicine. Personalized medicines can potentially serve respective patients faster diagnoses, lesser side effects and desired outcomes. Clinical Research Institute is set to be the fastest growing CAGR during the forecast period 2020-2025, owing to ensure the safety and efficacious personalized treatment that are practiced alongside modified clinical trial protocols.
Biopharmaceutical Market Segment Analysis -Geography
Based on Geography, biopharmaceutical market is segmented into North America, Europe, Asia-Pacific and Rest of the World. The North America region dominated the Biopharmaceutical market in 2019 with a share of 38.91%. This is owing to the colossal challenges to deliver authentic healthcare innovation worldwide and to promote newly-developed biodrugs to address human health challenges. Asia Pacific is set to be the fastest growing CAGR during the forecast period 2020-2025 owing to promising investment by the government and varied unmet industry opportunities.
Biopharmaceutical Market Drivers
Rising Trend to develop Efficiency and Productivity
Over the years, there have been constant innovations of new technologies in the field of biopharmaceutics. The global Biopharmaceutical Market is primarily driven by the strategic investment in biodrugs research and development along with the marketing of innovative healthcare solutions, like new medicines. Moreover, Suppliers require to gear their advanced clinical technologies toward developing ‘biologics’ better, faster and cheaper. To plan for the future is the utmost necessity that specifies future-proofed medicines, denoting longevity and welfare to the population, which again contributes to the growth of the Biopharmaceutical Market.
Bringing More Products and Players
There is a rapid advancement for bringing diversified new bioprocessing facilities and players by Biosimilars and thus, drives the growth of the Biopharmaceutical Market. As discussed earlier, the need to develop cost-effective manufacturing is imperative, for offering considerable health care price framework to the patients. Thus, developing ‘biobetter’, ‘biosimilar’ and ‘biogenerics’ products is signified as benevolent measures across developing countries to manage overwhelming health issues.
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Biopharmaceutical Market Challenges
Major Pharmaceutical Protocols Concerns
The key restrictive factors for market growth are stringent pharmaceutical protocols faced by the health professionals, biopharmaceutical companies and stakeholders. There are a lot of struggles and challenges associated with the innovation with the new drugs, and also, during the promotion of such novel products. As every new drug goes through several procedures before the launch and marketing, and among these stages, there are animals and clinical studies to report. Lack of laboratory animal supplies is one of the challenges, for scientific tests owing to regulatory concern by the animal rights authority.
Biopharmaceutical Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in the Biopharmaceutical Market. Biopharmaceutical Market top 10 companies include Roche Holding AG, Abbott Laboratories, Bristol-Myers Squibb, Novartis International AG, Genentech Inc., Merck Serono, Amgen, BioMarin Pharmaceutical Inc., Invion Limited and Élan Corporation.
In November 2019, Novartis acquired The Medicines Company, the US-based biopharmaceutical company for USD 9.7 Bn to deliver breakthrough cardiovascular treatments by ‘Inclisiran’, a potentially transformational investigational cholesterol-lowering therapy.
North America is anticipated to dominate the global biopharmaceutical market in the forecast period 2020-2025 attributed to address human health challenges and simultaneously, translate scientific breakthroughs into effectual treatment, and deliver authentic healthcare innovation worldwide.
Biopharmaceutical innovation contributes to the premature death averages and decrease of mortality rate, along with designing new biodrug for the emergence of distinct types of diseases, mutation of viruses and microbes. The rise in strategic collaboration among the Research developments and Biopharmaceuticals companies is accelerating the respective market.
Detailed analysis of the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Biopharmaceutical market report.
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Email: [email protected]
Phone: (+1) 970-236-3677