Biopharmaceutical Market Overview 2022-2027:
According to IMARC Group latest report titled “Global Biopharmaceutical Market Report and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on biopharmaceutical market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global biopharmaceutical market size reached US$ 249.4 Billion in 2021. Looking forward, the market is expected to reach a value of US$ 440.2 Billion by 2027, growing at a CAGR of 10.25% during 2022-2027.
Biopharmaceuticals are biologically synthesized substances of high therapeutic value obtained from living organisms, such as microorganisms and animal cells. These large and complex molecular drugs are also known as biologics or biotech drugs. They mainly include monoclonal antibodies, recombinant growth factors, purified proteins, recombinant hormones, vaccines, synthetic immunomodulators, etc., utilized for therapeutic or in vivo diagnostic purposes. Biopharmaceuticals find extensive applications pertaining to autoimmune disorders, inflammatory and infectious diseases, hormonal disorders, cardiovascular ailments, metabolic disorders, neurological diseases, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The expanding geriatric population, along with the rising prevalence of chronic diseases, is primarily driving the biopharmaceutical market across the globe. Moreover, their ability to attack targets beyond the reach of traditional small molecule drugs is further contributing to the adoption of these biologics in the treatment of various life-threatening diseases. Additionally, increasing strategic collaborations among biopharmaceutical companies and rising investments in R&D activities are further bolstering the market growth. Moreover, the ongoing COVID-19 pandemic is leading to the development of vaccines against the SARS-CoV2 virus, some of which consist of advanced DNA, RNA, and protein subunit vaccines. Besides this, the rising need to alleviate the side effects of various small-molecule therapeutics and invasive surgical treatments will continue to drive the market growth over the forecast period.
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Competitive Landscape with Key players:
The global biopharmaceutical market is concentrated in nature with the presence of a small number of key players who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Novo Nordisk
- Sanofi SA
- Johnson & Johnson
- Merck & Co.
- Biogen Idec
Global Biopharmaceutical Market Segmentation:
Our report has categorized the market based on regions, indication and class.
Breakup by Indication:
- Autoimmune diseases
- Metabolic disorders
Breakup by Class:
- Monoclonal Antibodies
- Purified Proteins
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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