Biopharmaceutical Market In-depth Analysis, Size and Insights Covering Share Forecast 2022-2027
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 biopharmaceutical market 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, IMARC Group expects the market to reach US$ 440.2 Billion by 2027, exhibiting a growth rate (CAGR) of 10.25% during 2022-2027.
Biopharmaceutical refers to the biologically synthesized substance manufactured using various biological sources, such as living cells or organisms. It is generally developed in industrial and academic laboratories that is used in treating several diseases, including cancers and metabolic disorders. It is widely preferred by healthcare professionals as it causes minimum side effects to the body and exhibits high specificity to address various untreatable medical conditions by targeting only specific molecules. Some of the popular biopharmaceutical products include recombinant growth factors, recombinant proteins, vaccines, synthetic immunomodulators, monoclonal antibodies, purified proteins, recombinant hormones, recombinant enzymes, and cell and gene therapies.
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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.
Market Trends:
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 growth across the globe 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 some small-molecule therapeutics and invasive surgical treatments is catalyzing the market growth of the market. Moreover, rising strategic collaborations among biopharmaceutical companies are further propelling the market growth. Besides this, the widespread adoption of biopharmaceuticals is strengthening the market growth. Additionally, increasing the widespread awareness about the effectiveness of biopharmaceuticals among the masses is providing a boost to the market growth worldwide 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:
- Roche
- Amgen
- Novo Nordisk
- AbbVie
- Sanofi SA
- Johnson & Johnson
- Pfizer
- Merck & Co.
- Lilly
- Biogen Idec
Biopharmaceutical Market Segmentation:
Our report has categorized the market based on regions, indication and class.
Breakup by Indication:
- Autoimmune diseases
- Oncology
- Metabolic disorders
Breakup by Class:
- Proteins
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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