|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The biopharmaceuticals market was valued at approximately USD 325.17 billion in 2020, and it is expected to witness a revenue of USD 496.71 billion in 2026, with a CAGR of 7.32% over the forecast period, 2021-2026.
The ongoing COVID-19 pandemic globally is expected to have a significant impact on the biopharmaceutical industry. Most of the biopharmaceutical companies are striving extensively for the development of vaccines against the SARS-CoV2 virus. Some of the candidates are traditional-type vaccines such as inactivated and attenuated products; however, most of the vaccine candidates being developed are advanced DNA, RNA, and protein subunit vaccines. This factor is expected to boost the growth of the biopharmaceuticals market over the pandemic. However, the clinical and regulatory procedures for drug candidates of other indications may witness a slow pace due to the shifting priorities of the healthcare system to reduce the infections to clinical trial patients.
The market is largely driven by the growing geriatric population, rising chronic diseases, and increasing acceptance of and huge market demand for biopharmaceuticals. According to the Globocan 2020 report, a total of 19,292,789 new cancer cases were diagnosed, with 9,958,133 deaths due to cancers worldwide. Additionally, as per the data from the United Nations World Population Prospects 2019 report, by 2050, one in six people in the world will be over 65 years of age, which is an increase from one in 11 in 2019, and by 2050, one in four persons living in Europe and Northern America could be aged 65 years or over. The number of persons aged 80 years or over globally is projected to triple, from 143 million in 2019 to 426 million in 2050.
The huge demand for biopharmaceuticals is facilitated by an accelerating focus on research and related investments. The ability of biopharmaceutical products to address previously untreatable conditions has introduced innovative drugs in the market. Thus, given the aforementioned factors, the studied market is expected to grow over the forecast period.
Also, the market demand for biopharmaceuticals is increasing with the rising desire to circumvent the side effects associated with some small-molecule therapeutics and invasive surgical treatments. However, stringent regulatory issues and the requirement of high investment in the development of a biopharmaceutical drug are the growth limiting factors for the studied market.
Scope of the Report
As per the scope of the report, biopharmaceuticals refer to any biologically synthesized molecule used to treat or manage disorders. Biopharmaceutical products include (but are not limited to) monoclonal antibodies, recombinant growth factors, purified proteins, recombinant proteins, recombinant hormones, vaccines, recombinant enzymes, synthetic immunomodulators, cell and gene therapies, and other products. The biopharmaceuticals market is segmented by product type, therapeutic application, and geography. By product type, the market is segmented into monoclonal antibodies, recombinant growth factors, purified proteins, recombinant proteins, recombinant hormones, vaccines, recombinant enzymes, cell and gene therapies, synthetic immunomodulators, and other product types. By therapeutic application, the market is segmented into oncology, inflammatory and infectious diseases, autoimmune disorders, metabolic disorders, hormonal disorders, cardiovascular diseases, neurological diseases, and other diseases. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The report offers values (in USD million) for the above segments.
|By Product Type|
|By Therapeutic Application|
|Inflammatory and Infectious Diseases|
Key Market Trends
The Monoclonal Antibodies Segment is Expected to Hold a High Market Share During the Forecast Period
The successful use of monoclonal antibodies and antibody derivatives in therapeutics is the major driver for the rapid growth of the studied segment. The therapeutic applications of monoclonal antibodies include in the areas of cancer, rheumatoid arthritis, multiple sclerosis, and cardiovascular diseases, among others.
The recent COVID-19 outbreak has been creating a huge burden on healthcare systems. Researchers across the world are continuously making efforts to cope with this rising burden. Thus, the demand for monoclonal antibodies targeting COVID-19 is likely to exceed. For instance, in July 2020, an anti-CD6 IgG1 monoclonal antibody named Itolizumab (ALZUMAb), from Biocon Ltd, India, was approved by the Drugs Controller General of India (DCGI) for the emergency treatment of cytokine release syndrome in acute respiratory distress syndrome patients infected with COVID-19.
Additionally, the growing FDA approvals and new product launches for various indications are expected to drive the segment. For instance, in October 2019, Novartis received the FDA approval for its Beovu (brolucizumab) injection, also known as RTH258, for the treatment of wet age-related macular degeneration (AMD). In March 2019, the US FDA approved Pfizer’s oncology biosimilar, TRAZIMERA, which is a monoclonal antibody biosimilar to the originator biologic medicine, Herceptin. Thus, owing to the aforementioned factors, the monoclonal antibodies segment is anticipated to witness significant growth over the forecast period.
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North America Dominates the Market and is Expected to do the Same in the Forecast Period
The growing burden of chronic disease and increasing investments in research and development activities in the United States are the major factors driving the biopharmaceuticals market in North America. The United States has been recognized as the innovation capital of the world for life sciences, and it is involved in global capital investments in the early stages of biopharmaceutical companies.
During the present COVID-19 pandemic, almost all the biopharmaceutical companies in the region have been striving for the development of effective therapeutics against COVID-19, and this is expected to boost the studied market over the pandemic in North America. According to the Pharmaceutical Research and Manufacturers of America, as of January 2021, nearly 1,750 clinical trials were in progress for the development of vaccines and drugs in the treatment of COVID-19, among which 420 clinical trials were based in the United States.
According to Globocan 2020, the estimated incidence of cancer cases in the United States accounted for 2,281,658, with 612,390 deaths, in 2020. The high incidence of cancer surges the demand for effective therapeutics, and thus, drives the studied market. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), in 2018, more than 4.7 million people worked in the US biopharmaceutical industry across a broad spectrum of occupations, including scientific research, technical support, and manufacturing. Additionally, in March 2020, Thermo Fisher Scientific Inc. invested nearly USD 475 million as a biopharma investment in the expansion of biologics, cell and gene therapy, and drug product development and to increase its commercial capabilities globally. Similarly, in January 2020, Eli Lilly and Company entered an agreement to acquire Dermira, a biopharmaceutical company. This acquisition aids in the expansion of the company's biopharmaceutical portfolio with the addition of Dermira's lebrikizumab, an IL-13 antibody that is intended for use in the treatment of moderate-to-severe atopic dermatitis. Thus, given the aforementioned factors, the studied market is expected to propel significantly over the forecast period in North America.
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The biopharmaceuticals market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by new product launches. Companies like Amgen Inc., Eli Lily and Company, Johnson and Johnson, Sanofi SA, AstraZeneca PLC, and Pfizer Inc. hold a significant share in the biopharmaceuticals market and are involved in various strategic alliances such as acquisitions and collaborations to expand their product portfolios. For instance, in August 2020, Sanofi SA entered a definitive agreement to acquire Principia Biopharma Inc., a late-stage biopharmaceutical company involved in the development of treatments for immune-mediated diseases.
In February 2021, Bristol Myers Squibb has been granted a global exclusive license to develop, manufacture and commercialize Rockefeller’s novel monoclonal antibody (“mAb”) duo treatment that neutralizes the SARS-CoV-2 virus for therapy or prevention of COVID-19.
In July 2021,Takeda Pharmaceutical and Frazier Healthcare Partners have partnered to launch a biopharmaceutical company named HilleVax to develop and market Takeda’s norovirus vaccine candidate, HIL-214 (previously TAK-214).
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Acceptance and Huge Market Demand for Biopharmaceuticals
4.2.2 Ability of Biopharmaceuticals to Treat Previously Untreatable Diseases
4.3 Market Restraints
4.3.1 High-end Manufacturing Requirements
4.3.2 Complicated and Cumbersome Regulatory Requirements
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value)
5.1 By Product Type
5.1.1 Monoclonal Antibodies
18.104.22.168 Anti-cancer Monoclonal Antibodies
22.214.171.124 Anti-inflammatory Monoclonal Antibodies
126.96.36.199 Other Monoclonal Antibodies
5.1.2 Recombinant Growth Factors
188.8.131.52 Granulocyte Colony Stimulating Factor
5.1.3 Purified Proteins
184.108.40.206 Leukemia Inhibitory Factor (LIF)
220.127.116.11 P53 Protein
18.104.22.168 P38 Protein
22.214.171.124 Other Purified Proteins
5.1.4 Recombinant Proteins
126.96.36.199 Serum Albumin
188.8.131.52 Amyloid Protein
5.1.5 Recombinant Hormones
184.108.40.206 Recombinant Human Growth Hormones
220.127.116.11 Recombinant Insulin
18.104.22.168 Other Recombinant Hormones
22.214.171.124 Recombinant Vaccines
126.96.36.199.1 Cancer Vaccines
188.8.131.52.2 Malaria Vaccines
184.108.40.206.3 Ebola Vaccine
220.127.116.11.4 Hepatitis B Vaccine
18.104.22.168.5 Tetanus Vaccine
22.214.171.124.6 Diptheria Vaccine
126.96.36.199.7 Cholera Vaccine
188.8.131.52.8 Other Recombinant Vaccines
184.108.40.206 Conventional Vaccines
220.127.116.11.1 Polio Vaccine
18.104.22.168.2 Pox Vaccine
22.214.171.124.3 Other Conventional Vaccines
5.1.7 Recombinant Enzymes
5.1.8 Cell and Gene Therapies
126.96.36.199 Allogenic Products
188.8.131.52 Autologous Products
184.108.40.206 Acellular Products
5.1.9 Synthetic Immunomodulators
220.127.116.11 Cytokines, Interferons, and Interleukins
5.1.10 Other Product Types
18.104.22.168 Blood Factors
22.214.171.124 Other Product Types
5.2 By Therapeutic Application
5.2.2 Inflammatory and Infectious Diseases
5.2.3 Autoimmune Disorders
5.2.4 Metabolic Disorders
5.2.5 Hormonal Disorders
5.2.6 Cardiovascular Diseases
5.2.7 Neurological Diseases
5.2.8 Other Diseases
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Abbvie Inc.
6.1.2 Amgen Inc.
6.1.3 Bristol-Myers Squibb Company
6.1.4 Eli Lilly and Company
6.1.5 Johnson & Johnson
6.1.6 Novartis AG
6.1.7 Novo Nordisk AS
6.1.8 Pfizer Inc.
6.1.9 GlaxoSmithKline PLC
6.1.10 F. Hoffmann-La Roche AG
6.1.11 Merck Co. & Inc.
6.1.12 Sanofi SA
6.1.13 AstraZeneca PLC
6.1.14 Bayer AG
6.1.15 Takeda Pharmaceutical Company Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Biopharmaceuticals Market market is studied from 2018 - 2026.
What is the growth rate of Global Biopharmaceuticals Market?
The Global Biopharmaceuticals Market is growing at a CAGR of 7.32% over the next 5 years.
Which region has highest growth rate in Global Biopharmaceuticals Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Biopharmaceuticals Market?
North America holds highest share in 2020.
Who are the key players in Global Biopharmaceuticals Market?
Amgen Inc., Abbvie Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Novo Nordisk are the major companies operating in Global Biopharmaceuticals Market.