LOS ANGELES, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The Global Biopharmaceutical Market Size accounted for USD 328 Billion in 2021 and is estimated to garner a market size of USD 853 Billion by 2030 rising at a CAGR of 11.3% from 2022 to 2030.
Biopharmaceutical Market Statistics
- Global biopharmaceutical market value was USD 328 Billion in 2021 and expected to grow at CAGR of 11.3% from 2022 to 2030
- According to the IBEF 2021 data, Government of India invested over USD 4 billion in the pharma and medical sector
- North America biopharmaceutical market share will gather more than 30% market share in coming years
- Asia-Pacific biopharmaceutical market growth registered considerable CAGR during the forecast timeframe from 2022 to 2030
- Among products, monoclonal antibodies sub-segment collected over 32% of the overall market share in 2021
Biopharmaceutical Market Growth Factors
- Increasing prevalence of chronic disorders
- Rising elderly population base
- Quickly spreading infectious diseases
- Advent of COVID-19 pandemic
Request For Free Sample Report @ https://www.acumenresearchandconsulting.com/request-sample/2531
Biopharmaceutical Market Report Coverage:
| Market | Biopharmaceutical Market | |
| Biopharmaceutical Market Size 2021 | USD 328 Billion | |
| Biopharmaceutical Market Forecast 2030 | USD 853 Billion | |
| Biopharmaceutical Market CAGR During 2022 - 2030 | 11.3% | |
| Biopharmaceutical Market Analysis Period | 2018 - 2030 | |
| Biopharmaceutical Market Base Year | 2021 | |
| Biopharmaceutical Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Product, By Application, And By Geography | |
| Biopharmaceutical Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Abbott, Amgen Inc., Biogen Inc., Eli Lilly and Company, F. Hoffmann-La Roche AG, Johnson & Johnson Services, Inc., Merck Sharp & Dohme Corp., Novo Nordisk A/S, Pfizer Inc., Sanofi, and others. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Biopharmaceutical Market Dynamics
The global biopharmaceutical market is being driven by prominent factors such as a rise in the incidence of chronic illnesses such as cancer and diabetes, as well as the increasing global adoption of biopharmaceuticals. Furthermore, increasing strategic collaboration among biopharmaceutical companies is expected to fuel global biopharmaceutical market growth. Rapid advancements by prominent players toward constant innovations backed by technologies in the field of biopharmaceuticals act as one of the major factor strongly supporting the global growth of the biopharmaceutical market. Planning for the future is the most important requirement that specifies future-proof medicines, defining longevity and welfare to the population, which contributes to the global growth of the biopharmaceutical market.
Biopharmaceutical Market Restraint
The high cost of drug development and the risk of failure are the factors impeding the growth of the global biopharmaceutical industry. Furthermore, stringent regulatory issues, combined with the high investment required in the development of a biopharmaceutical drug, prevent the market from expanding globally.
Biopharmaceutical Market Business Strategies
- In February 2021, Eli Lilly and Company announced a US$ 960 million strategic collaboration and license agreement with Rigel Pharmaceuticals to co-develop and commercialise R552, a receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitor. Eli Lilly will pay Rigel a US$125 million upfront payment and an additional US$ 835 million in potential development, regulatory, and commercial milestone payments under the terms of the agreement.
- In December 2020, Amgen Inc. has announced a strategic partnership with McKesson. The agreement will aid in the improvement of cancer care in community cancer care settings. McKesson reaches 20% of cancer patients in the United States by providing Amgen medication. This multiyear agreement unites the two companies' strength and reach, with the goal of closing gaps in care by improving access to innovative personalized medicine and immuno-oncology in the community setting.
- In September 2019, I-Mab Biopharma, a clinical-stage biopharmaceutical company based in China and the United States that is solely focused on the research and development of prospective first-in-class and finest biologics in immune-oncology and autoimmune diseases, has announced a partnership with MSD, a trademark of Merck & Co., Inc.
Check the detailed table of contents of the report @
https://www.acumenresearchandconsulting.com/table-of-content/biopharmaceutical-market
Biopharmaceutical Market Segmentation
The global biopharmaceutical market is divided into product and application segments. The market is divided into products such as monoclonal antibodies, interferon, insulin, growth and coagulation factors, erythropoietin, vaccines, hormones, and others. The market is divided into applications such as blood disorders, cardiovascular disease, infectious disease, immunology, metabolic disease, neurological disease, oncology, and others.
Biopharmaceutical Market Share
During the forecast period, monoclonal antibodies are expected to have a large market share. Monoclonal antibodies have a wide range of therapeutic applications, including the treatment of cancer, rheumatoid arthritis, multiple sclerosis, cardiovascular disease, and other diseases. Furthermore, rising FDA approval and new product launches for various indications are expected to drive segmental growth, resulting in the growth of the global biopharmaceutical market. According to application, an increase in R&D activity for oncology drug development is expected to fuel the global biopharmaceutical market.
Biopharmaceutical Market Regional Growth
North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa comprise the global biopharmaceutical industry. North America controls the majority of the global biopharmaceutical market. The factors that contribute to North America's dominance include a high level of population awareness and rising incidences of chronic diseases such as arthritis, rheumatoid arthritis, and cancer. Furthermore, advancements in healthcare infrastructure, rising government spending on healthcare policies, and the presence of important members in North America all contribute to the growth of the global biopharmaceutical market. Asia-Pacific, on the other hand, is expected to deliver impressive outcomes in the global biopharmaceutical market. A large amount of investment, significant government meddling in the healthcare sector, and significant development in the developing economy all contribute to increased demand for biopharmaceuticals.
Buy this premium research report –
https://www.acumenresearchandconsulting.com/buy-now/0/2531
Biopharmaceutical Market Players
Some of the leading biopharmaceutical companies operating in the industry include Abbott, Amgen Inc., Biogen Inc., Eli Lilly and Company, F. Hoffmann-La Roche AG, Johnson & Johnson Services, Inc., Merck Sharp & Dohme Corp., Novo Nordisk A/S, Pfizer Inc., Sanofi, and others.
Questions Answered By This Report
- What was the market size of Biopharmaceutical Market in 2021?
- What will be the CAGR of Biopharmaceutical Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Biopharmaceutical Market?
- Which region held the largest share in Biopharmaceutical Market in 2021?
- What are the key market drivers of Biopharmaceutical Market?
- Who is the largest end user Biopharmaceutical Market?
- What will be the Biopharmaceutical Market value in 2030?
Browse More Research Topic on Healthcare Sector:
The Global Capnography Devices Market Size accounted for USD 513 Million in 2021 and is estimated to achieve a market size of USD 1,134 Million by 2030 growing at a CAGR of 9.3% from 2022 to 2030.
The Global Avascular Necrosis Market size Accounted for USD 611 Million in 2021 and is predicted to be worth USD 1,026 Million by 2030, with a CAGR of 6.1% during the forthcoming period from 2022 to 2030.
The Global Electrosurgery Market Size Accounted for USD 6,589 Million in 2021 and is predicted to be worth USD 10,708 Million by 2030, with a CAGR of 5.7% during the Forthcoming Period from 2022 to 2030.
About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
For Latest Update Follow Us on Twitter and, LinkedIn
Contact Us:
Mr. Richard Johnson
Acumen Research and Consulting
USA: +13474743864
India: +918983225533
E-mail: sales@acumenresearchandconsulting.com
