The global biopharmaceuticals market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Biopharmaceuticals is a category of fine chemicals which is known by their minimal quantity usage and substantial cost. These sophisticated, pure chemical substances are produced in minimal amounts and based on accurate requirements for their supposed application. Biopharmaceuticals are produced from the genetically modified source, which is majorly proteins and nucleic acids. Furthermore, production associated with biopharmaceuticals requires recombinant technology molecules which act as ingredients for various drugs.
Biopharmaceuticals are segmented based on two main criteria. They are:
Based on product, biopharmaceuticals are following types
- Monoclonal Antibodies (mAb)
- Biotech Vaccines
- Recombinant Human (RH) Insulin
- Granulocyte Colony-Stimulating Factor (G-CSF)
- Human Growth Hormones (HGH)
- Other Biopharmaceuticals
Based on therapeutic use, biopharmaceuticals are of following types
- Metabolic System
- Infectious Diseases
- Other Therapeutic Uses
As biopharmaceuticals are products used in treating diseases and therapeutic conditions in the healthcare industry, demand from this industry is expected to increase the growth of this market. Demand from healthcare markets is actually increasing because of growing aging population and number of diseases globally.
Drivers and Restraints of Biopharmaceuticals Market
Growing investments in the healthcare industry in regions like Europe and the Americas are likely to offer tremendous possibilities for biopharmaceuticals market in the future. As healthcare for every individual is a necessity and growing population increases the number of individuals in need of healthcare, many multinational businesses are investing in the market.
Biopharmaceuticals are exposed to immense competition. Biopharmaceuticals have stringent regulations when it comes to drug approvals. Existing and future regulations concerning the use of certain biopharmaceuticals in few countries are likely to hinder the market growth.
North America was the largest consumer of biopharmaceuticals and this pattern is anticipated to continue to be identical over the following few years. Consumption in the USA is showing upward trend because of increase in population and access to healthcare. Growing demand for healthcare will drive biopharmaceuticals market in the USA. With major production capacities in the USA, the region is likely to grow in terms of global supply capability. Consumption of biopharmaceuticals in the Europe and Asia is likely to grow at a significant rate.
Top players in the global biopharmaceuticals market include Pfizer, Inc., Ranbaxy Laboratories Ltd., Roche Holding AG, Abbott Laboratories, Inc., Bayer AG, Biocon Ltd, Eli Lilly and Company, Genentech, Inc., GlaxoSmithKline, PLC. Johnson & Johnson, Inc., LG Life Sciences and Novartis AG.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Supply & Demand
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
The report offers exhaustive evaluation of parent market developments, macro-economic indicators and regulating aspects along with potential value of the market according to segments. The report also explains the qualitative effect of various market aspects on market segments and regions.
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth