The size of the European Biopharmaceuticals Market is projected at USD 52.47 billion in 2023 and estimated to be growing at a CAGR of 8.89%, to reach USD 80.33 billion by 2028. Europe is the second-largest market for Biopharmaceuticals globally.
Europe is the second-largest Biopharmaceuticals market in the world. Increasing population and chronic diseases are propelling market growth. The adoption & accessibility, availability of Biopharmaceuticals for the treatment & diagnosis of diseases, awareness related to medicine raised the Europe Market. Western Europe contains more than 33% of manufacturing facilities worldwide. Biopharma products have high efficiency with safety than other products. Rising support from the government favors the growth rate of the European Biopharmaceuticals market during the forecast period.
The development of Biopharmaceuticals products is being undertaken by an increasing number of competitors in the pharmaceutical industry. Market players are more focusing on expanding the biologics pipeline, relying on the fact that the commercialization of Biopharmaceuticals will reduce the usage of traditional small molecular drugs. Pharmaceutical industries mainly rely on Biopharmaceuticals for profits and innovation.
Advancement in biomedical science holds vast potential for the growth of the Biopharmaceuticals market. The ability of these drugs to treat chronic diseases that were earlier untreatable is increasing its demand enormously and also increases the profit margin for manufacturers.
Biopharmaceuticals drugs need to be stored in cold storage, limiting their transport to rural areas and hence hindering the growth of the market.
This research report on the European Biopharmaceuticals Market has been segmented and sub-segmented into the following categories:
By Product Type:
By Therapeutic Type:
Regionally, Europe follows North America as the leading majority of the market share in the global market.
The German biopharmaceuticals market was the market leader in the European market, and this market is expected to have promising growth in the near future as well. The factors like development of Biopharmaceuticals products by competitors, commercialization of Biopharmaceuticals sector, and advancement in biomedical are responsible for the growth of the Biopharmaceuticals market.
The UK biopharmaceuticals market is expected to perform well between 2020 to 2025, and the French Biopharmaceuticals Market is expected to grow at a faster rate due to the accelerating focus on research and related investment.
The Spanish biopharmaceuticals market performs much similar to France in leading the shares by increasing demand for advanced biomedical treatment. Enhancing awareness of Biopharmaceuticals products and investment by the government is additionally prompting the market to grow.
The Italian Biopharmaceuticals Market is expected to have a moderate growth rate during the forecast period and hold a decent market size by the end of 2025 as the government and private companies are pouring huge investments.
Notable companies leading the European Biopharmaceuticals market 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.
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