According to IMARC Group latest report titled “Biopharmaceutical Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on global biopharmaceutical market research report. 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 any biologically synthesized molecules used to treat or manage disorders. These substances are produced using living organisms, such as microorganisms and animal cells, that have a high-therapeutic value. Biopharmaceuticals are made up of proteins and nucleic acids and target specific diseases and patient groups. These are pharmaceutical products produced through biotechnology methods involving recombinant DNA techniques, hybridoma techniques, and purification processes. Some of the common biopharmaceuticals include monoclonal antibodies, recombinant growth factors, purified proteins, recombinant proteins, recombinant hormones, vaccines, recombinant enzymes, synthetic immunomodulators, cell and gene therapies, and other products.
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The COVID-19 pandemic has had a significant impact on the biopharmaceutical industry. Several biopharmaceutical companies strived extensively to develop vaccines against the SARS-CoV2 virus. This boosted the demand for biopharmaceuticals throughout the pandemic. On the other hand, the clinical and regulatory procedures for drug candidates of other indications witnessed a slow pace due to the shifting priorities of the healthcare system to reduce the infections in clinical trial patients of COVID-19. The pandemic also caused disruptive effects on the global supply of pharmaceutical products, biologics, and biological preparations. The pandemic further impacted research and developmental activities across the globe.
The global market is majorly driven by the rising prevalence of various chronic diseases among individuals. In line with this, the growing geriatric population is significantly contributing to the market worldwide. Furthermore, increasing pharmaceutical spending on research and developmental activities is positively influencing the market growth. Apart from this, the growing need to circumvent the side effects associated with small-molecule therapeutics and invasive surgical treatments is catalyzing the growth of the market. Moreover, rising strategic collaborations among biopharmaceutical companies are further propelling the market. Additionally, the widespread awareness about the effectiveness of biopharmaceuticals among the masses is providing a boost to the market on the global level.
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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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