Global Biopharmaceutical Market Size By Product Type (Monoclonal Antibodies, Recombinant Growth Factors), By Service (Laboratory Testing, Custom Testing / Customer Proprietary Testing), By Raw Material Type (Formulation Excipients, Active Pharmaceutical Ingredients (API)), By Application (Oncology, Inflammatory and Infectious Diseases), By Geographic Scope And Forecast

Biopharmaceutical Market Size And Forecast

Biopharmaceutical Market size was valued at USD 370 Billion in 2022 and is projected to reach USD 865.93 Billion by 2030, growing at a CAGR of 11.8% from 2023 to 2030.

The market’s expansion is being driven by factors such as the growing acceptance of biopharmaceuticals, their enormous market demand, and their capacity to treat diseases that were previously untreatable. The Global Biopharmaceutical Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Biopharmaceutical Market Definition

The biopharmaceutical market is basically the world of companies that design, make, and sell those super-advanced medical treatments – we're talking about drugs that come from living things or parts of them, like you know, cells! These biopharmaceuticals are used to figure out what's wrong, treat illnesses, and even prevent them from happening in the first place. So, the market includes everyone from the bright minds doing the research to the folks assembling and distributing these drugs, getting them to doctors and the people who need them. The market is also a vital piece of the overall pharmaceutical industry. And get this, with personalized medicine becoming a bigger deal and all the cool advancements in biotechnology, this market is expected to just keep on growing!

Global Biopharmaceutical Market Overview

The COVID-19 pandemic really shook up the biopharmaceutical world. You saw pretty much every company in the field scrambling to develop antibodies to fight the SARS-CoV-2 infection. A great example is India's Department of Biotechnology, which launched Mission COVID Suraksha. The Indian government announced this in April 2021 to speed up the creation and manufacturing of vaccines made right there in India. Think about itCovaxin's production jumped from 1 crore doses in April 2021 to a whopping 6-7 crore doses each month between July and August of that year! And they were aiming for nearly ten crore doses a month by September 2021. Meanwhile, over in the US, Pfizer announced in June 2022 that they were putting $120 million into their Kalamazoo, Michigan, facility. This investment would allow them to manufacture the COVID-19 oral treatment, PAXLOVID (nirmatrelvir [PF-07321332] tablets, and ritonavir tablets), right here in the States.

This investment? It's just another big move by Pfizer to bring more of that crucial biopharmaceutical manufacturing back home to the United States. Basically, they're ramping up production to get more meds and treatments to patients not just here, but globally. And hey, remember back in August 2021? Canada's Public Authority teamed up with Moderna to build an mRNA vaccine factory right there in Canada. Moderna's plan fits perfectly with Canada's new biomanufacturing strategy. It's all about strengthening the whole industry – from finding and keeping talented people to running more clinical trials, and ultimately, making Canada a powerhouse in biomanufacturing. Let's be real, the surge in revenue from making Coronavirus vaccines has given the whole biopharmaceutical market a major boost during this pandemic.

What's making the market grow? Well, it's things like more and more people accepting biopharmaceuticals, the huge demand for them, and that they can actually treat diseases we couldn't before. According to the Alzheimer’s Association 2021 report, the FDA has given the green light to five drugs for Alzheimer’srivastigmine, galantamine, donepezil, memantine, and memantine combined with donepezil. The report also notes that folks over 65 are most likely to develop what's known as late-onset Alzheimer's. Right now, around 5.3% of Americans between 65 and 74, 13.8% of those aged 75 to 84, and a whopping 34.6% of Americans 85 and up are living with Alzheimer’s. And get thisby 2050, we're expecting 13.5 million Americans over 65 to have Alzheimer's, a big jump from the 6.2 million we saw in 2021. With so many people affected, the need for APIs among patients is only going to increase in the years to come.

Global Biopharmaceutical Market Segmentation Analysis

The Global Biopharmaceutical Market is Segmented on the basis of Product Type, Service, Raw Material Type, Application, And Geography.

Biopharmaceutical Market, By Product Type

• Monoclonal Antibodies
• Recombinant Growth Factors
• Purified Proteins
• Recombinant Proteins
• Recombinant Hormone
• Vaccines
• Synthetic Immunomodulators
• Other

Based on Product Type, the market is segmented into Monoclonal Antibodies, Recombinant Growth Factors, Purified Proteins, Recombinant Proteins, Recombinant Hormone, Vaccines, Synthetic Immunomodulators, and Other.

Biopharmaceutical Market, By Service

• Laboratory Testing
• Custom Testing / Customer Proprietary Testing
• Compendial and Multi Compendial Laboratory Testing

Based on Service, the market is segmented into Laboratory Testing, Custom Testing / Customer Proprietary Testing, and Compendial and Multi Compendial Laboratory Testing.

Biopharmaceutical Market, By Raw Material Type

• Formulation Excipients
• Active Pharmaceutical Ingredients (API)
• Compendial Methods (USP / EP / JP)
• Based Vendor Qualification Program Support

Based on Raw Material Type, the market is segmented into Formulation Excipients, Active Pharmaceutical Ingredients (API), Compendial Methods (USP / EP / JP), and Based Vendor Qualification Program Support.

Biopharmaceutical Market, By Application

• Oncology
• Inflammatory and Infectious Diseases
• Autoimmune Disorders
• Metabolic Disorders
• Hormonal Disorders
• Cardiovascular Diseases
• Neurological Diseases
• Other

Based on Application, the market is segmented into Oncology, Inflammatory and Infectious Diseases, Autoimmune Disorders, Metabolic Disorders, Hormonal Disorders, Cardiovascular Diseases, Neurological Diseases, And Other.

Biopharmaceutical Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the world

Looking at where things are happening geographically, the global biopharmaceutical market can be broken down into regions like North America, Europe, Asia Pacific, Latin America, and the Rest of the world. North America really stands out, and that's largely because people there are pretty informed about healthcare, and unfortunately, we're seeing rising rates of chronic illnesses like arthritis, rheumatoid arthritis, and cancer. Plus, North America's strong healthcare system, increased government spending, and the presence of major biopharmaceutical companies all contribute to its leading position. But don't count out the Asia-Pacific region! It's expected to make some serious strides in the biopharmaceutical market, fueled by significant investments, strong government support for healthcare, and impressive economic growth in developing nations.

Key Players

The “Global Biopharmaceutical Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Abbott, Amgen Inc, Biogen Inc, Eli Lilly and Company, Hoffmann-La Roche AG, Johnson & Johnson Services, Inc, Merck Sharp & Dohme Corp, Novo Nordisk A/S, Pfizer Inc., Sanofi.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• July 2022Amgen bought ChemoCentryx, Inc., which treats cancer, autoimmune diseases, and inflammatory disorders, for approximately USD 3.7 billion, or 52 cents per share in cash.
• May 2022The East Syracuse, New York, manufacturing facility of Bristol Myers Squibb was purchased by LOTTE. For the purpose of LOTTE’s brand-new biologics contract development and manufacturing organization (CDMO) business in the United States, the East Syracuse location will function as the LOTTE Center for North America Operations.
• January 2022Amgen and Generate Biomedicines worked together to discover and develop protein therapies for five clinical targets in a variety of therapeutic areas and modalities.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Biopharmaceutical Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Biopharmaceutical Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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