New York, Aug. 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global biopharmaceutical market generated USD 345.84 billion in 2021, and is estimated to generate USD 974.48 billion by 2030, witnessing a CAGR of 11.7% from 2022 to 2030. The report is a helpful source of guidance for market players, investors, and startups in gaining insights on changing market dynamics, top segments & their sub-segments, Covid-19 impact, and competitive landscape.
Wrapping a thorough analysis and insights in 277 pages, supported by 332 tables and 162 figures, the report aims to assist in taking necessary decisions depending upon the market conditions during the forecast period and opportunities offered by the market. In addition, the report highlights the impact of the Covid-19 pandemic on the global biopharmaceutical market size.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 345.84 Billion |
| Market Size in 2030 | USD 974.48 Billion |
| CAGR | 11.7% |
| No. of Pages | 277 |
| Tables | 332 |
| Figures | 162 |
| Segments covered | Product, Application, and Geography. |
| Drivers | Increase in incidence of chronic diseases including cancer, diabetes, and cardiovascular diseases (CVDs) |
| adoption of sedentary lifestyle that raises obesity rates | |
| Opportunities | Increase in R&D investments |
| Surge in number of epidemics, changes in disease rate, and poor efficacy of various drugs |
The research provides detailed analysis on changing market dynamics based on driving forces, restraining factors, and opportunities. These insights are helpful in taking appropriate steps to raise the biopharmaceutical market share across the globe for market players. Increase in incidence of chronic diseases including cancer, diabetes, and cardiovascular diseases (CVDs) along with the adoption of sedentary lifestyle that raises obesity rates drive the growth of the market. However, the high costs related to the production of biopharmaceutical drugs restrain the market growth.
Outlining the opportunities that assist in raising the stakes in the global biopharmaceutical industry in the next few years, the Lead Analyst for the Life Sciences & Healthcare category at Next Move Strategy Consulting, stated, “Increase in R&D investments create new opportunities in the coming years. In addition, surge in number of epidemics, changes in disease rate, and poor efficacy of various drugs widens the scope of application of biopharmaceuticals.”
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The report offers an extensive analysis of key segments and sub-segments of the global biopharmaceutical market. Key segments analyzed in the research include product, application, and geography. Based on product, the research sub-segments the market into monoclonal antibody, insulin, interferon, erythropoietin, growth and coagulation factor, hormone, vaccine, and others. By application, the research further classifies the market into oncology, metabolic disease, blood disorder, cardiovascular disease, infectious disease, immunology, neurological disease, and others.
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Based on geography, the research sub-divides the market into North America, Europe, Asia-Pacific, and RoW. As per the report, North America held the highest market share of the global biopharmaceutical market in 2021, and will maintain its largest contribution throughout the forecast period. This is attributed to strict intellectual property system that promotes innovation, increase in scientific research activities through support from academic organizations, government research funding, and venture capital firms, and the presence of top market players in the region. However, Asia-Pacific is projected to witness the highest growth rate during the forecast period, owing to surge in spending on R&D activities for biologics and increase in prevalence of cancer, heart diseases, and obesity in the region.
The report analyzes each region and its respective countries based on segment and sub-segments mentioned above. This will help market players in devising investment strategies along with carrying out expansions, agreements, and partnerships to strengthen their presence.
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The study discusses the competitive scenario of the global biopharmaceutical market to assist market players and investors in determining the future course of action. Moreover, they can adopt strategies to gain a competitive edge. Leading players analyzed in the research include Abbott Laboratories, Biogen, Amgen, Inc., F. Hoffmann-La Roche Ltd., Lilly, Merck & Co., Inc., Johnson & Johnson, Pfizer, Inc., Novo Nordisk, AstraZeneca, Safoni, and Moderna. This analysis is carried out based on business performance, key moves & developments, and sales value of various segments.
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