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Biopharmaceutical Market Size, Share & Trends Growth [2031]

Global Biopharmaceutical Market

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Segments - By Drug Class Type (Monoclonal antibodies, Interferon, Colony-stimulating factor, Erythropoietin, Insulin, Vaccines, Growth hormones, and Others), By Application (Oncology, Diabetes, Cardiovascular, Hemophilia, Neurological Diseases, and Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022-2030

HC-2521
4.9 Rating
253 Pages

14-11-2022
75 Reviews

Author:

Raksha Sharma

Fact-checked by:

Vineet Pandey

Editor:

Shreyas Tandon

Report Description

Biopharmaceutical Market Outlook

The Global Biopharmaceutical Market was estimated at USD 5,01,387.6 Million in 2021 and is anticipated to reach USD 17,96,708.2 Million by 2030, expanding at a CAGR of 14.9% during the forecast period.

Biopharmaceutical are medical drugs produced using biotechnology. These biopharmaceuticals are extensively used in the treatment of cancer, diabetes, cardiovascular diseases, immune diseases, and other diseases while providing targeted treatment.

Biopharmaceuticals are types of drugs made by extracting proteins and nucleic acids directly from biological sources with the help of biotechnology. Biopharmaceuticals comprise sugars, proteins, nucleic acids, living cells, tissues, and a complex combination of different components. These drugs are widely used in the manufacture and development of vaccines, blood components, body cells and tissues, allergenic, and living cells used in gene therapies, cell therapies, and recombinant therapeutic proteins.

Macro-economic Factors

Government Regulations

Government regulatory authorities such as the US Food and Drug Administration and the European Medical Agency are major agencies that authorize and approve biopharmaceutical formulations, which are safe and enhance the efficacy of the treatment.

The European Medical Agency grants marketing authorization to Nuvaxovid, a protein-based vaccine developed from recombinant nanoparticle technology, which is used for combating COVID-19 infection. The increasing regulations and approval of biopharmaceutical formulations from different types of pharmaceutical companies present a key aspect of market growth.

R&D Investment

Major biopharmaceutical companies are actively engaged in R&D by investing hundreds of dollars in several formulations, to meet the rising demand for biopharmaceutical formulations in the market. Biopharmaceutical companies conducted more than nearly 4,400 clinical trials in 2017 and spent more than USD 15 billion on research activities. The continuous R&D investment and ongoing clinical trials by biopharmaceutical companies are likely to create lucrative opportunities in the market.

Healthcare Spending

Healthcare spending in the majority of countries continues to rise across the globe, owing to rising investment in biopharmaceutical formulation. According to the International Federation of Pharmaceutical Manufacturers and Association, biopharmaceutical companies spent USD 179 billion in the year 2018, on their R&D activities.

The National Health Expenditure Accounts that the US healthcare spending grew 2.7% in 2021, reaching USD 4.3 trillion per person Government authorities and biopharmaceutical companies spent heavily on the development of vaccines for the safety and efficacy of the drug for the treatment of diseases such as cancer. The increasing spending on the development of vaccines and other biopharmaceutical drugs is a key factor boosting the market.

Biopharmaceutical Market Dynamics

Market Driver- Increase in Elderly Population

People above the age of 80 years are susceptible to illness, as they have low immunity and require a longer time to recover from illness. According to the World Health Organization (WHO), in 2020, the population above 80 years of age was higher than those of children. The elderly population with less immunity has a high chance of developing chronic conditions such as cancer and hypertension.

The WHO reported the incidences of cancer patients will increase by up to USD 27 million in 2030. An increase in chronic conditions among the elderly increases the demand for targeted therapies. Monoclonal antibodies are considered a targeted therapy for treating cancers among the elderly. Thus, an increase in incidences of cancer among the elderly is likely to drive the market.

Market Driver- Growing prevalence of cancer disease

The delayed diagnosis in cancer treatment results in an increase in the number of deaths among cancer patients. According to the WHO, cancer disease among patients accounted for nearly USD 10 million deaths in 2020. The mortality rate among cancer patients can decrease with early diagnosis and accurate treatment. Thus, the protein-based vaccine is used as a targeted therapy for the treatment of cancer diseases.

The increase in therapeutic efficacy offered by protein-based cancer vaccines directly targets cancer, which reduces death among cancer patients and enhances the quality of treatment. Thus, growing cases of cancer diseases boost the demand for biopharmaceutical formulations in the market.

Market Driver- Technological advancement

Biopharmaceutical drugs are extracted or semi-synthesized from biological sources such as human, animals, and micro-organisms. The production of biopharmaceutical drugs is a complex and time-consuming procedure. Thus, biopharmaceutical companies have adopted several technological and automation in the production process. Regeneron Pharmaceutical Inc introduced VelociSuite technologies, which improved the manufacturing process of human monoclonal antibodies.

Furthermore, the company launched a molecular vaccine technology center in 2021, which develops molecular vaccines for the treatment of cancer. This increases the adoption of technologies in the manufacturing of biopharmaceutical formulation, which is expected to propel the market.

Market Restraint- Less availability of skilled labors

Biopharmaceutical formulations are developed by the extraction process and recombinant DNA technologies. The production of biopharmaceutical medication requires skilled resources and technical expertise, owing to its complexity involved the production of biopharmaceutical.

Increasing cases of COVID-19 boosts the demand for biopharmaceutical companies. Limited availability of skilled resources, at manufacturing facilities, results in a shortage of biopharmaceutical drugs required for the treatment of COVID-19 patients. This, in turn, is limiting the market.

Market Opportunity- Rising Investments in Research & Development

Companies in the biopharmaceutical sector invest in research & development activities for the production of safe and advanced medication such as monoclonal antibodies and vaccine development. According to the International Federation of Pharmaceutical Manufacturers and Association, biopharmaceutical companies spent USD 179 billion on R&D in 2018. An increase in R&D spending boosts the sale of biopharmaceutical products in the market.

For instance, Regeneron Pharmaceuticals Inc. built the Molecular Vaccines Technology Center in 2021, a research platform for the development of molecular vaccines for oncology and infectious diseases. Thus, an increase in investment in such molecular vaccines center is expected to drive the market.

Scope of Biopharmaceutical Market Report

The report on the Global Biopharmaceutical Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Biopharmaceutical Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2021
Historic Data	2015-2020
Forecast Period	2022–2030
Segmentation	Drug Class Type (Monoclonal antibodies, Interferon, Colony-stimulating factor, Erythropoietin, Insulin, Vaccines, Growth hormones, and Others), Application (Oncology, Diabetes, Cardiovascular, Hemophilia, Neurological Diseases, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	F. Hoffmann-La Roche Ltd, Amgen Inc., AbbVie Inc., Sanofi-Aventis, Johnson & Johnson, Pfizer, Novo Nordisk, Eli Lilly, Novartis, Merck, Bristol-Myers Squibb, GlaxoSmithKline, and many others.

Biopharmaceutical Market Segmental Outlook

Based on drug type, the global Biopharmaceutical market is segmented into monoclonal antibodies, interferon, colony-stimulating factor, erythropoietin, insulin, vaccines, growth hormones, and others. The monoclonal antibodies segment is projected to expand at a 15.3% CAGR during the forecast period, owing to the wide adoption of monoclonal antibodies to treat chronic diseases, such as cancer and cardiovascular diseases.

The surge in R&D with respect to oncology drug development is anticipated to drive the Biopharmaceutical market for monoclonal antibodies. The interferon segment is expected to register high growth during the forecast period, due to the increasing prevalence of multiple sclerosis among patients worldwide. The growing development of novel interferon beta is a major factor, which in turn, drives the segment.

Based on application, the global Biopharmaceutical market is segmented into oncology, diabetes, cardiovascular, hemophilia, neurological diseases, and others. The Oncology segment is anticipated to expand at a 15.4% CAGR during the forecast period, owing to the technological advancements in bio-based drugs which increase the chances of survival for cancer patients.

The diabetes segment is projected to hold a share of the market at 21.6% during the forecast period due to the increasing prevalence of diabetes and rising initiatives by various health organizations to increase awareness about the disorder. The cardiovascular segment is expected to expand at a 14.7% CAGR during the forecast period.

The rising prevalence of cardiovascular diseases along with growing investments and research in efficient drug development, in turn, drives the segment. The other segment includes HIV, rare diseases, and autoimmune diseases. The segment is projected to hold a 19.3% share of the market during the forecast period due to the rise in the prevalence of neurological diseases and the increase in the adoption of Biopharmaceuticals.

Biopharmaceutical Market Regional Outlook

On the basis of regions, the global Biopharmaceutical market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is projected to expand at a 15.2% CAGR during the forecast period due to the rising prevalence of chronic diseases and increasing investments in R&D activities in the US.

The market in Europe is expected to expand at a 14.7% CAGR, owing to the expanding healthcare sector along with increasing awareness about the effectiveness and availability of Biopharmaceutical among patients. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. The rising chronic diseases and the growing geriatric population are major factors projected to fuel the market share of the region.

Latin America is anticipated to hold a 6.0% share of the global market, owing to the surge in the prevalence of chronic diseases such as cancer and diabetes, and the increase in the adoption of biopharmaceutical. The market in the Middle East & Africa is projected to expand at a substantial pace, due to the enlarging population and increasing cases of malnutrition in the regions.

Key Benefits for Industry Participants & Stakeholders

In-depth Analysis of the Global Biopharmaceutical Market
Historical, Current and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Biopharmaceutical Market Performance

Segments

By Drug Class Type

Monoclonal antibodies
Interferon
Colony-stimulating factor
Erythropoietin
Insulin
Vaccines
Growth hormones
Others

By Application

Oncology
Diabetes
Cardiovascular
Hemophilia
Neurological Diseases
Others

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Market Players Profiled in the Report

F. Hoffmann-La Roche Ltd
Amgen Inc.
AbbVie Inc.
Sanofi-Aventis
Johnson & Johnson
Pfizer
Novo Nordisk
Eli Lilly
Novartis
Merck
Bristol-Myers Squibb
GlaxoSmithKline

Competitive Landscape

Manufacturers operating in the Global Biopharmaceutical Market include F. Hoffmann-La Roche Ltd, Amgen Inc., AbbVie Inc., Sanofi-Aventis, Johnson & Johnson, Pfizer, Novo Nordisk, Eli Lilly, Novartis, Merck, Bristol-Myers Squibb, GlaxoSmithKline, and many others.
Market Players are pursuing key strategies such as acquisitions, collaborations, and geographic expansion where a potential opportunity arises for the Biopharmaceutical Market.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Biopharmaceutical Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Biopharmaceutical Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Biopharmaceutical Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Biopharmaceutical Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Biopharmaceutical Market Size & Forecast, 2015-2030
      4.5.1 Biopharmaceutical Market Size and Y-o-Y Growth
      4.5.2 Biopharmaceutical Market Absolute $ Opportunity
Chapter 5 Global Biopharmaceutical Market Analysis and Forecast By Drug Class Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Drug Class Type
      5.1.2 Basis Point Share (BPS) Analysis By Drug Class Type
      5.1.3 Absolute $ Opportunity Assessment By Drug Class Type
   5.2 Biopharmaceutical Market Size Forecast By Drug Class Type
      5.2.1 Monoclonal Antibodies
      5.2.2 Interferon
      5.2.3 Colony-Stimulating Factor
      5.2.4 Erythropoietin
      5.2.5 Insulin
      5.2.6 Vaccines
      5.2.7 Growth Hormones
      5.2.8 Others
   5.3 Market Attractiveness Analysis By Drug Class Type
Chapter 6 Global Biopharmaceutical Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Biopharmaceutical Market Size Forecast By Application
      6.2.1 Oncology
      6.2.2 Diabetes
      6.2.3 Cardiovascular
      6.2.4 Hemophilia
      6.2.5 Neurological Diseases
      6.2.6 Others
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Biopharmaceutical Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Biopharmaceutical Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Biopharmaceutical Analysis and Forecast
   9.1 Introduction
   9.2 North America Biopharmaceutical Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Biopharmaceutical Market Size Forecast By Drug Class Type
      9.6.1 Monoclonal Antibodies
      9.6.2 Interferon
      9.6.3 Colony-Stimulating Factor
      9.6.4 Erythropoietin
      9.6.5 Insulin
      9.6.6 Vaccines
      9.6.7 Growth Hormones
      9.6.8 Others
   9.7 Basis Point Share (BPS) Analysis By Drug Class Type
   9.8 Absolute $ Opportunity Assessment By Drug Class Type
   9.9 Market Attractiveness Analysis By Drug Class Type
   9.10 North America Biopharmaceutical Market Size Forecast By Application
      9.10.1 Oncology
      9.10.2 Diabetes
     9.10.3 Cardiovascular
      9.10.4 Hemophilia
      9.10.5 Neurological Diseases
      9.10.6 Others
   9.11 Basis Point Share (BPS) Analysis By Application
   9.12 Absolute $ Opportunity Assessment By Application
   9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Biopharmaceutical Analysis and Forecast
   10.1 Introduction
   10.2 Europe Biopharmaceutical Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Biopharmaceutical Market Size Forecast By Drug Class Type
      10.6.1 Monoclonal Antibodies
      10.6.2 Interferon
      10.6.3 Colony-Stimulating Factor
      10.6.4 Erythropoietin
      10.6.5 Insulin
      10.6.6 Vaccines
      10.6.7 Growth Hormones
      10.6.8 Others
   10.7 Basis Point Share (BPS) Analysis By Drug Class Type
   10.8 Absolute $ Opportunity Assessment By Drug Class Type
   10.9 Market Attractiveness Analysis By Drug Class Type
   10.10 Europe Biopharmaceutical Market Size Forecast By Application
      10.10.1 Oncology
      10.10.2 Diabetes
      10.10.3 Cardiovascular
      10.10.4 Hemophilia
      10.10.5 Neurological Diseases
      10.10.6 Others
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Biopharmaceutical Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Biopharmaceutical Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Biopharmaceutical Market Size Forecast By Drug Class Type
      11.6.1 Monoclonal Antibodies
      11.6.2 Interferon
      11.6.3 Colony-Stimulating Factor
      11.6.4 Erythropoietin
      11.6.5 Insulin
      11.6.6 Vaccines
      11.6.7 Growth Hormones
      11.6.8 Others
   11.7 Basis Point Share (BPS) Analysis By Drug Class Type
   11.8 Absolute $ Opportunity Assessment By Drug Class Type
   11.9 Market Attractiveness Analysis By Drug Class Type
   11.10 Asia Pacific Biopharmaceutical Market Size Forecast By Application
      11.10.1 Oncology
      11.10.2 Diabetes
      11.10.3 Cardiovascular
      11.10.4 Hemophilia
      11.10.5 Neurological Diseases
      11.10.6 Others
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Biopharmaceutical Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Biopharmaceutical Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Biopharmaceutical Market Size Forecast By Drug Class Type
      12.6.1 Monoclonal Antibodies
      12.6.2 Interferon
      12.6.3 Colony-Stimulating Factor
      12.6.4 Erythropoietin
      12.6.5 Insulin
      12.6.6 Vaccines
      12.6.7 Growth Hormones
      12.6.8 Others
   12.7 Basis Point Share (BPS) Analysis By Drug Class Type
   12.8 Absolute $ Opportunity Assessment By Drug Class Type
   12.9 Market Attractiveness Analysis By Drug Class Type
   12.10 Latin America Biopharmaceutical Market Size Forecast By Application
      12.10.1 Oncology
      12.10.2 Diabetes
      12.10.3 Cardiovascular
      12.10.4 Hemophilia
      12.10.5 Neurological Diseases
      12.10.6 Others
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Biopharmaceutical Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Biopharmaceutical Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Biopharmaceutical Market Size Forecast By Drug Class Type
      13.6.1 Monoclonal Antibodies
      13.6.2 Interferon
      13.6.3 Colony-Stimulating Factor
      13.6.4 Erythropoietin
      13.6.5 Insulin
      13.6.6 Vaccines
      13.6.7 Growth Hormones
      13.6.8 Others
   13.7 Basis Point Share (BPS) Analysis By Drug Class Type
   13.8 Absolute $ Opportunity Assessment By Drug Class Type
   13.9 Market Attractiveness Analysis By Drug Class Type
   13.10 Middle East & Africa (MEA) Biopharmaceutical Market Size Forecast By Application
      13.10.1 Oncology
      13.10.2 Diabetes
      13.10.3 Cardiovascular
      13.10.4 Hemophilia
      13.10.5 Neurological Diseases
      13.10.6 Others
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
   14.1 Biopharmaceutical Market: Competitive Dashboard
   14.2 Global Biopharmaceutical Market: Market Share Analysis, 2021
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 F. Hoffmann-La Roche Ltd
      14.3.2 Amgen Inc.
      14.3.3 AbbVie Inc.
      14.3.4 Sanofi-Aventis
      14.3.5 Johnson & Johnson
      14.3.6 Pfizer
      14.3.7 Novo Nordisk
      14.3.8 Eli Lilly
      14.3.9 Novartis
      14.3.10 Merck
      14.3.11 GlaxoSmithKline
      14.3.12 Bristol-Myers Squibb

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FAQ Section

Some frequently asked quetions about this report!

1. Which is the base year calculated in the Global Biopharmaceutical Market report and what is the analysis period?

The base year considered for the Global Biopharmaceutical Market report is 2021. The complete analysis period is 2015 to 2030, wherein, 2015 to 2020 are the historic years, and the forecast is provided from 2022 to 2030.

2. What additional data analysis is available in a report?

In addition to market size (in US$ Million), company market share (in % for the base year 2020), the impact of key regulations, current & future trends, key challenges, and an overview of the biopharmaceutical market is been provided.

3. What is the impact of COVID-19 on the overall market during year 2019 -2020?

Manufacturers of biopharmaceutical formulations increased their manufacturing capacity to meet the growing demand for vaccines during the pandemic. Biopharmaceutical companies joined the Accelerating COVID-19 Therapeutic Intervention and Vaccines (ACTIV), a public-private partnership with the National Institute of Health, for speeding up the development of vaccines.