Share
Biopharmaceutical Market Size, Share, and Analysis, By Product Type (Purified Proteins, Recombinant Growth Factors, Recombinant Proteins, Recombinant Hormone, Synthetic Immunomodulatory, Monoclonal Antibodies, Vaccines, Other), By Service (Custom Testing / Customer Proprietary Testing, Laboratory Testing, Compendial, and Multi Compendial Laboratory Testing), By Raw Material Type (Active Pharmaceutical Ingredients (API), Formulation Excipients, Compendial Methods (USP/ EP/ JP) Based Vendor Qualification Program Support), By Application (Autoimmune Disorders, Metabolic Disorders, Oncology, Inflammatory and Infectious Diseases, Hormonal Disorders, Neurological Diseases, Cardiovascular Diseases, and Other) and Regional Forecasts, 2022-2032
Biopharmaceutical Market size was USD 311.2 billion in 2021 and projected to grow from USD 376.2 billion in 2023 to USD 895.2 billion by 2032, exhibiting a CAGR of 10.1% during the forecast period.
Biopharmaceuticals are also referred as biologics or biologic drugs which are medical products obtained from biological sources like living organisms, proteins etc. Biopharmaceuticals are the drugs originated using biotechnology procedures and are important in modern healthcare. Biopharmaceuticals are also designed to target specific molecular characteristics of disease related to patients which is a customized treatment.
Biopharmaceutical Market is expected to reach USD 895.2 billion, growing at a CAGR of 10.1% during forecast period owing to the increasing prevalence of chronic diseases and rising geriatric population which may boost the demand for growth of biopharmaceutical market. Biopharmaceuticals provide targeted therapies and have less side effects along with enhanced efficiency. The increasing research and development activities along with the usage growing usage of monoclonal antibodies in therapeutics of in vitro diagnostics is bolstering the growth of the Biopharmaceutical market.
Biopharmaceutical Market is classified based on the Product Type into Purified Proteins, Recombinant Growth Factors, Recombinant Proteins, Recombinant Hormone, Synthetic Immunomodulatory, Monoclonal Antibodies, Vaccines, Other. Monoclonal Antibodies is expected to dominate the market in the forecast period owing to the increasing utilization of monoclonal antibodies in therapeutics which are used to treat chronic diseases and is less toxic with low side effects.
Biopharmaceutical Market is classified based on the Application into Autoimmune Disorders, Metabolic Disorders, Oncology, Inflammatory and Infectious Diseases, Hormonal Disorders, Neurological Diseases, Cardiovascular Diseases, and Other. Oncology segment dominate the market in 2021 due to the high incidence of various cancers. Cardiovascular Diseases segment is expected to dominate the market in the forecast period owing to the increasing heart attacks and strokes in people of all age groups. The investments by key market players in developing drugs related to CVDs may boost growth of segment sin the market.
Increasing Necessity of Biopharmaceuticals are Expected to Boost the Growth of the Market
The incidence of various diseases like cardiovascular diseases, diabetes is increasing, and the biopharmaceuticals provide innovative treatment options to target specific issue of diseases and is expected to boost the growth of the market by giving enhanced therapeutic outcomes. The increasing R&D activities related to the medical devices and instruments is also anticipated to drive the demand for the growth of the market. The advancements in technology related to the development of various drug products related to new ailments may also strengthen market growth.
Rising Investment in Healthcare is Expected to Boost the Growth of the Market
Biopharmaceutical industries are aiming in developing the healthcare facilities by improving treatment options which is expected to fortify the growth of the market. The partnerships and collaborations between the market players to upgrade technologies may create growth opportunities. Biopharmaceutical industries are developing targeted therapies and even customising treatment options for particular genetic and molecular disorders of patients.
Safety Issues May Restrain the Growth of the Market
Few medications used for treating certain conditions or diseases may have side effects which are expected to restrain the growth of the Biopharmaceutical market due to the safety concerns.
Biopharmaceutical Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The North America region dominated the biopharmaceuticals market in 2021 due to the presence of well rooted healthcare facilities, accessibility to modern treatment options, and improved patient care in countries of this region. Asia-Pacific region is expected to dominate the market in the forecast period owing to the growing awareness by government through certain initiatives and increasing advancements in technology which is expected to boost the growth of the market in the forecast period.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Biopharmaceutical companies had worked enormously for developing vaccines. The supply of raw materials had been delayed due to the pandemic. The production of biologics was increased Several clinical trials were delayed. The attention towards less severe medical conditions were delayed. Covid-19 had a slight negative impact on the growth of Biopharmaceutical Market.
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2018-2032 |
|
Base Year |
2022 |
|
Forecast Period |
2022-2032 |
|
Historical Period |
2019-2021 |
|
Growth Rate |
CAGR of 10.1% from 2022-2032 |
|
Unit |
Value (USD Billion) |
|
Segmentation |
Main Segments List |
|
Product Type |
|
|
Service |
|
|
Raw Material Type |
|
|
Application |
|
|
By Region |
|
Biopharmaceutical Market size was estimated at USD 311.2 billion in 2021 and is expected to reach USD 895.2 billion in 2032.
Biopharmaceuticals are also referred as biologics or biologic drugs which are medical products obtained from biological sources like living organisms, proteins etc. Biopharmaceuticals are the drugs originated using biotechnology procedures and are important in modern healthcare.
Monoclonal Antibodies and Cardiovascular Diseases segment accounted for the largest Biopharmaceutical market share.
Key players: Amgen Inc., AstraZeneca, Johnson & Johnson Private Limited, Lilly, Pfizer Inc., Sanofi, Abbott, Novartis AG, F. Hoffmann-La Roche Ltd., Novo Nordisk A/S, bioMérieux, Merck & Co., Inc., Bristol-Myers Squibb Company, GlaxoSmithKline Plc, Bayer AG, Biogen and Other Prominent Players are the key players in the Biopharmaceutical Market.
Increasing Necessity of Biopharmaceuticals and Rising Investment in Healthcare are the factors driving the Biopharmaceutical market.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
