New York, USA, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Biopharmaceuticals Global Market is Expected to Surpass 700 Billion Mark by 2028, Assesses DelveInsight
The demand for biopharmaceuticals is primarily driven by the increasing prevalence of chronic, infectious, and neurological diseases, coupled with the rising global geriatric population. Furthermore, the growing acceptance of biopharmaceuticals and personalized medicines, their efficacy in treating previously untreatable diseases, escalating investments in research and development capabilities, a heightened focus on enhancing healthcare facilities, bolstering overall healthcare infrastructure, a surge in product launches and approvals, and ongoing innovation in product development are among the key factors contributing to the overall growth of the biopharmaceuticals market from 2023 to 2028.
DelveInsight’s Biopharmaceuticals Market Insights report provides the current and forecast market analysis, individual leading biopharmaceuticals companies’ market shares, challenges, biopharmaceuticals market drivers, barriers, trends, and key market biopharmaceuticals companies in the market.
Key Takeaways from the Biopharmaceuticals Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global biopharmaceuticals market during the forecast period.
- Notable biopharmaceuticals companies such as AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Johnson & Johnson, Novartis AG, Novo Nordisk AS, Pfizer Inc., GSK plc., F. Hoffmann-La Roche Ltd, Merck KGaA, Sanofi SA, AstraZeneca PLC, Bayer AG, Takeda Pharmaceutical Company Limited, UCB S.A., Boehringer Ingelheim International GmbH, DAIICHI SANKYO COMPANY, LIMITED, Biogen, Serum Institute of India, and several others, are currently operating in the biopharmaceuticals market.
- In July 2023, Transcenta Holding Limited received approval from the China Center for Drug Evaluation (CDE) to initiate a Phase II clinical trial of TST002(Blosozumab), a humanized anti-sclerostin monoclonal antibody.
- In October 2022, PT217, a bispecific anti-Delta-like ligand 3 (DLL3)/anti-Cluster of Differentiation 47 (CD47) antibody, was developed by Phanes Therapeutics, Inc.
- In September 2022, Bluebird Bio, Inc.’s SKYSONA (elivaldogene autotemcel) slows the progression of neurologic dysfunction in boys 4-17 years of age with early, active cerebral adrenoleukodystrophy (CALD), was approved by CBER.
- In March 2022, BioNTech SE reported the expansion of its strategic collaboration with Regeneron to advance the Company’s FixVac candidate BNT116 in combination with Libtayo (cemiplimab), a PD-1 inhibitor, in advanced non-small cell lung cancer (NSCLC). Under the terms of the agreement, the companies plan to jointly conduct clinical trials to evaluate their combination in different patient populations with advanced NSCLC.
- In January 2022, Amgen collaborated with Generate Biomedicines to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities.
To read more about the latest highlights related to the biopharmaceuticals market, get a snapshot of the key highlights entailed in the Global Biopharmaceuticals Market Report
Biopharmaceuticals Overview
Biopharmaceuticals, also known as biologics, represent a cutting-edge class of therapeutic agents derived from living organisms, harnessing the power of biological systems to treat a wide array of diseases. Unlike traditional pharmaceuticals, which are often chemically synthesized, biopharmaceuticals are produced using living cells, typically through genetic engineering techniques. This class includes a diverse range of products such as monoclonal antibodies, vaccines, gene therapies, and recombinant proteins. Biopharmaceuticals have revolutionized medical treatment by offering targeted and personalized approaches, often with fewer side effects than traditional drugs. Their impact is particularly notable in areas like oncology, rheumatology, and autoimmune disorders. The development and manufacturing of biopharmaceuticals involve intricate processes, stringent quality controls, and substantial investment, reflecting the dynamic intersection of biology and pharmaceutical innovation. As the biopharmaceutical industry continues to grow, it holds great promise for advancing medicine and addressing previously challenging and complex health conditions.
Biopharmaceuticals Market Insights
Among the global regions, North America is poised to take the lead in the biopharmaceuticals market in the coming years. This projected dominance is rooted in key growth factors, including the widespread prevalence of chronic diseases, a rising elderly population, a well-established network of healthcare facilities, the availability of advanced treatment options specifically targeting the root causes of complex diseases, resulting in superior therapeutic outcomes and heightened patient satisfaction. The region also boasts the presence of major industry players collectively shaping the anticipated prosperity of the biopharmaceuticals market throughout the forecast period from 2023 to 2028.
Furthermore, the increasing number of FDA clearances and the introduction of new products across various medical indications are poised to steer the sector. For example, in February 2022, the US Food and Drug Administration granted Emergency Use Authorization (EUA) for a novel monoclonal antibody designed to combat COVID-19, demonstrating efficacy against the omicron variant. This EUA covers the use of bebtelovimab in treating mild to moderate COVID-19 among adults and pediatric patients who test positive for the virus and are at a heightened risk of progressing to severe illness, including hospitalization or fatality. It serves as an alternative treatment option for individuals for whom other FDA-approved or authorized COVID-19 therapies are either inaccessible or not clinically suitable. Additionally, in May 2022, Eli Lilly and Company revealed plans to invest USD 2.1 billion in expanding its manufacturing capabilities in Indiana, United States.
To know more about why North America is leading the market growth in the biopharmaceuticals market, get a snapshot of the Biopharmaceuticals Market Outlook
Biopharmaceuticals Market Dynamics
The global surge in chronic diseases, including cancers and neurological disorders, is poised to propel the biopharmaceutical market. The escalating incidence of cancers, in particular, is driving demand for protein-based biopharmaceuticals, offering extended life expectancy for millions of cancer patients. Substantial investments in research and development, both in developed and developing nations, focusing on medical equipment and technologies, are anticipated to create lucrative expansion opportunities in the biopharmaceutical market. The advancement of medical instrument development processes is accelerating biopharmaceutical market growth through enhanced research and development capabilities.
Despite the remarkable potential of biopharmaceutical products to address previously untreatable conditions and introduce innovative drugs to the biopharmaceutical market, challenges such as high-end manufacturing requirements and associated side effects may impede overall biopharmaceutical market growth.
Get a sneak peek at the biopharmaceuticals market dynamics @ Biopharmaceuticals Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2020–2028 |
| Biopharmaceuticals Market CAGR | ~8% |
| Biopharmaceuticals Market Size by 2028 | USD 713.61 Billion |
| Key Biopharmaceuticals Companies | AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Johnson & Johnson, Novartis AG, Novo Nordisk AS, Pfizer Inc., GSK plc., F. Hoffmann-La Roche Ltd, Merck KGaA, Sanofi SA, AstraZeneca PLC, Bayer AG, Takeda Pharmaceutical Company Limited, UCB S.A., Boehringer Ingelheim International GmbH, DAIICHI SANKYO COMPANY, LIMITED, Biogen, Serum Institute of India, among others |
Biopharmaceuticals Market Assessment
- Biopharmaceuticals Market Segmentation
- Biopharmaceuticals Market Segmentation By Product Type: Monoclonal Antibodies, Recombinant Growth Factors, Purified Protein, Recombinant Protein, Recombinant Hormones, Synthetic Immunomodulators, and Others
- Biopharmaceuticals Market Segmentation By Application: Oncology, Inflammatory And Infectious Diseases, Autoimmune Diseases, Metabolic Disorders, Cardiovascular Diseases, and Others
- Biopharmaceuticals Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the biopharmaceuticals market are set to emerge as the trendsetter explore @ Biopharmaceuticals Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Biopharmaceuticals Market |
| 7 | Biopharmaceuticals Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Biopharmaceuticals Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the biopharmaceuticals market by 2028? Click to get a snapshot of the Biopharmaceuticals Market Trends
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
