The size of the global Biopharmaceuticals market is predicted to worth USD 192.46 billion in 2020 and estimated to be growing at a CAGR of 9.2%, to reach USD 298.85 billion by 2025.
Disease treatment techniques have been revolutionized with the use of Biopharmaceuticals or biologics on account of their efficiency against autoimmune diseases & cancer and better mode of action. The healthcare industry is expected to make a shift from traditional small molecule drugs to Biopharmaceuticals.
Biopharmaceuticals are drugs obtained from genetically modified sources through biotechnology methods such as hybridoma techniques, recombinant DNA techniques, and purification processes. These drugs are used in the treatment of various diseases like cancer, metabolic, neurological, and cardiovascular and other rare types of diseases. Biopharmaceuticals have enhanced the quality of life of patients and improved the quality of healthcare.
Biopharmaceuticals are large and complex molecular drugs that are mainly obtained from nucleic acids and proteins of living organisms such as microorganisms and animal cells, also known as transgenic organisms. These drugs are obtained using biotechnological techniques and these drugs have higher therapeutic values. The biopharmaceutical market deals with biologics and biotech drugs. These are usually administered by intravenous, subcutaneous, or intramuscular injections and are more efficient than conventional small molecule drugs. Some of the biopharmaceuticals include monoclonal antibodies, erythropoietin, growth hormones, recombinant proteins, recombinant human insulin, purified proteins, interferon, and vaccines. Recombinant human insulin was amongst the first substances to be approved for therapeutic purpose. Currently, there are nearly 300 biopharmaceutical products which have been approved and are available in the market.
MARKET DRIVERS
Rising geriatric population, which is prone to neurodegenerative and autoimmune disorders provides a strong business base for the manufacturers. There is a massive demand for Biopharmaceuticals due to the increasing incidence of chronic diseases whose treatment is made possible with the use of these drugs.
The major drivers contributing to the growth of the biopharmaceuticals market are increased geriatric population globally. The rise in the prevalence of chronic conditions. Increase in occurrence of vulnerable diseases such as cancer and diabetes, growth in the obesity and sedentary lifestyle among the population, and growing acceptance for biopharmaceuticals due to their ability to treat previously untreatable diseases are further significantly driving the market growth. According to WHO, cancer is the leading cause of deaths globally, and diabetic patients are also increasing day by day due to lifestyle changes. A sedentary lifestyle leads to several chronic diseases, thus boosting the market growth. Biopharmaceuticals hold the potential to cure the disease entirely and not just the symptoms, hence increasing its acceptance.
MARKET RESTRAINTS
Side effects associated with the over-consumption of drugs and the high cost involved in manufacturing are few restraints for the market. There are market restraints for the biopharmaceuticals market, which is holding back the growth of this market. High costs are associated with the drug development process. The threat of failure of drugs, challenging developments affects market growth. With a price of 100 million USD, generally, it takes 5 to 9 years for the development of a biopharmaceutical product. This regulatory framework for establishment takes over a lot of work and patience. WHO (world health organization) also has set strict approval standards for biopharmaceuticals, which is further estimated to restrict growth scope of the market to some extent.
COVID-19 impact on the global biopharmaceuticals market
COVID-19 has a significant impact on every medical industry, likewise biopharmaceuticals. The disruptive effects of COVID-19 have placed enormous strain on the global supply of pharmaceutical products, biologics, and biological preparations. Manufacturing devices and preparative materials such as API'S, etc. faced a supply shortage due to crisis in COVID-19. Most of the materials and devices necessary are expected to get delivered on time but got affected due to the COVID-19 pandemic. As most manufacturers are from China, this affected the market growth in all other countries and slowed down the process of production.
Due to the pandemic crisis's still going, it showed an impact on research and developmental activities. The funds have been holder by many organizations. Researchers, scientists, doctor's and other staff are the most effected set of people by COVID-19.
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Product Type, Therapeutic Type and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East and Africa |
This research report on the global Biopharmaceuticals market segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2025.
Biopharmaceuticals Market – By Product Type
Based on product type, the Monoclonal antibodies segment holds the highest number of shares in the product sector. Monoclonal antibodies are the technology that is the most emerging technology. Monoclonal antibodies are identical to immune cells and represent a copy of the unique parent cell. Monoclonal antibodies alone contribute 40% of the global biopharmaceutical market.
Biopharmaceuticals Market – By Therapeutic Type
In terms of therapeutic application, oncology is the largest segment in the Biopharmaceuticals market.
Biopharmaceuticals Market – By Region
Geographically, North America is the largest market for Biopharmaceuticals across the globe. Technological advancement in the region is propelling the dominance of the area. In North America, the United States biopharmaceuticals market holds the largest market share of 46%, followed by Canada.
Asia-Pacific is forecasted to develop as the fastest-growing region for the global Biopharmaceuticals market in the forecast period. Increasing awareness regarding biologic drugs is driving the market in the area. Asia-Pacific is expected to grow at a steady pace of CAGR 8.34% throughout the forecast. It is because of an increase in R&D investment, a rise in the adoption and availability of biopharmaceuticals for disease treatment, and a surge in disease diagnosis awareness. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), U.S. firms conduct over half the world's research and development(R&D) in pharmaceuticals and hold the intellectual property rights on most new medicines. The LAMEA region is also expected to boost market growth. Europe is the second-largest Biopharmaceuticals market in the world. The European biopharmaceutical market alone is projected to reach an increase of USD 44.26 billion in 2020 and estimated to be growing at a CAGR of 8.89%, to reach USD 67.76 billion by 2025.
TOP COMPANIES IN THE MARKET
List of crucial competitors dominating the global Biopharmaceuticals market profiled in this report are Merck & Co., Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, Inc., Sanofi, Amgen Inc., AbbVie Inc., Biogen Idec, Bayer AG, Johnson & Johnson Services, Pfizer, Inc. and Novartis AG.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product Type
5.1.1 Monoclonal Antibodies (mAb)
5.1.2 Erythropoietin
5.1.3 Biotech Vaccines
5.1.4 Recombinant Human (RH) Insulin
5.1.5 Granulocyte colony-stimulating factor (G-CSF)
5.1.6 Interferon
5.1.7 Human growth hormones (HGH)
5.2 By Therapeutic Type
5.2.1 Neurology
5.2.2 Infectious diseases
5.2.3 Diabetes
5.2.4 Oncology
5.2.5 Cardiovascular
5.2.6 Other Therapeutic Areas
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Merck & Co.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 F. Hoffmann-La Roche AG
8.3 Eli Lilly and Company
8.4 Sanofi
8.5 Amgen Inc.
8.6 AbbVie Inc.
8.7 Biogen Idec
8.8 Bayer AG
8.9 Johnson & Johnson Services
8.10 Pfizer
8.11 Novartis AG
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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