Biopharmaceutical Market by Market Types (Enzyme Market, Cancer Monoclonal Antibodies Market, Biosimilar Market, and Protein Therapeutics Market) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028
The global biopharmaceutical market size is projected to register a substantial CAGR during the forecast period attributed to the growing geriatric population base and increasing awareness level among the people. The further growth of the market is attributed to increasing expenditures for healthcare.
The complex drugs or medicines that are made from living organisms or living cells that are produced primarily by using biotechnological methods are known as biopharmaceuticals. Nucleic acid and proteins are extracted from biological sources generally from animals and plants for the production of biopharmaceuticals; however, it is a disputed method and is under trial phase. The first biopharmaceutical approved for the purpose of therapeutic was recombinant human insulin and at present there are about 300 biopharmaceuticals available in the market. The market is expected to witness substantial growth due to increasing approval of biopharmaceutical products by the U.S. Food and Drugs Administration (FDA). For example, the Beovu injection produced by Novartis was approved by FDA in October 2019 for the treatment of wet age-related macular degeneration.
The COVID-19 pandemic had a positive impact on the biopharmaceuticals market as the majority of biopharmaceutical companies are constantly and extensively trying to develop an effective vaccine against the SARS-CoV2 virus. Most of the vaccines that are being developed are based on RNA, DNA, and protein subunits, which is anticipated to propel the market growth. However, the regulatory procedures of drugs face a sluggish pace due to change of rules of the healthcare system in order to lessen the infection among the patients for clinical trials. The monoclonal antibodies are expected to witness a surge in demand for the targeted COVID-19 patients. For example, Itolizumab a monoclonal antibody produced by Biocon Ltd, India got approved by the Drugs Controller General of India (DCGI) for the emergency treatment COVID-19 in July 2020.
Market Trends, Drivers, Restraints, and Opportunities
- Growing acceptance of biopharmaceuticals and their high market demand are anticipated to fuel the market growth during the forecast period.
- Biopharmaceuticals have the capability to treat diseases that were previously untreated diseases, which is expected to boost the market growth in the coming years.
- High cost of the drugs and requirement of large manufacturing investment are major restraints that can impede the market growth during the forecast period.
- Inconvenient, burdensome, and complicated regulatory requirements for the approval of biopharmaceuticals in many parts of regions are key challenges that can restrain the market growth.
- Ongoing research & development programs in this industry is estimated to create lucrative opportunities for the market expansion in the long run.
Scope of the Report
The report on the global biopharmaceutical market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Biopharmaceutical Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Market Types (Enzyme Market, Cancer Monoclonal Antibodies Market, Biosimilar Market, and Protein Therapeutics Market) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Biogen Idec.; Pfizer Inc.; GlaxoSmithKline PLC; Merck & Co.; Amgen Inc.; Abbott Laboratories; and Novartis A.G. |
Market Segment Insights
Biosimilar market segment is anticipated to dominate the market
On the basis of market types, the global biopharmaceutical market is divided into enzyme market, cancer monoclonal antibodies market, biosimilar market, and protein therapeutics market. The biosimilar market segment held a major share of the market in 2019 and is anticipated to dominate the market in the coming years attributed to the availability of drugs that are high cost and the presence of high pharmaceutical expenditures. Moreover, the protein therapeutics segment is estimated to expand at a high growth rate during the projected period attributed to the high efficiency of target therapy, which causes little to no side effects.
North America is expected to hold a large share of the market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to hold a large share of the market during the forecast period attributed to the presence of a high geriatric population base, availability of sophisticated healthcare facilities, and growing healthcare expenditure in the region. However, the market in Asia Pacific is anticipated to grow at a fast pace in the coming years owing to the presence of several industry opportunities for the expansion of the biopharmaceutical industry in the region.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Biopharmaceutical Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Biopharmaceutical Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Biopharmaceutical Market - Supply Chain
4.5. Global Biopharmaceutical Market Forecast
4.5.1. Biopharmaceutical Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Biopharmaceutical Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Biopharmaceutical Market Absolute $ Opportunity
5. Global Biopharmaceutical Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Biopharmaceutical Market Size and Volume Forecast by Types
5.3.1. Enzyme Market
5.3.2. Cancer Monoclonal Antibodies Market
5.3.3. Biosimilar Market
5.3.4. Protein Therapeutics Market
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Biopharmaceutical Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Biopharmaceutical Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Biopharmaceutical Demand Share Forecast, 2019-2026
7. North America Biopharmaceutical Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Biopharmaceutical Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Biopharmaceutical Market Size and Volume Forecast by Types
7.4.1. Enzyme Market
7.4.2. Cancer Monoclonal Antibodies Market
7.4.3. Biosimilar Market
7.4.4. Protein Therapeutics Market
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Biopharmaceutical Demand Share Forecast, 2019-2026
8. Latin America Biopharmaceutical Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Biopharmaceutical Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Biopharmaceutical Market Size and Volume Forecast by Types
8.4.1. Enzyme Market
8.4.2. Cancer Monoclonal Antibodies Market
8.4.3. Biosimilar Market
8.4.4. Protein Therapeutics Market
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Biopharmaceutical Demand Share Forecast, 2019-2026
9. Europe Biopharmaceutical Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Biopharmaceutical Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Biopharmaceutical Market Size and Volume Forecast by Types
9.4.1. Enzyme Market
9.4.2. Cancer Monoclonal Antibodies Market
9.4.3. Biosimilar Market
9.4.4. Protein Therapeutics Market
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Biopharmaceutical Demand Share Forecast, 2019-2026
10. Asia Pacific Biopharmaceutical Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Biopharmaceutical Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Biopharmaceutical Market Size and Volume Forecast by Types
10.4.1. Enzyme Market
10.4.2. Cancer Monoclonal Antibodies Market
10.4.3. Biosimilar Market
10.4.4. Protein Therapeutics Market
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Biopharmaceutical Demand Share Forecast, 2019-2026
11. Middle East & Africa Biopharmaceutical Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Biopharmaceutical Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Biopharmaceutical Market Size and Volume Forecast by Types
11.4.1. Enzyme Market
11.4.2. Cancer Monoclonal Antibodies Market
11.4.3. Biosimilar Market
11.4.4. Protein Therapeutics Market
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Biopharmaceutical Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Biopharmaceutical Market: Market Share Analysis
12.2. Biopharmaceutical Distributors and Customers
12.3. Biopharmaceutical Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Biogen Idec.
12.4.2. Pfizer Inc.
12.4.3. GlaxoSmithKline PLC.
12.4.4. Merck & Co.
12.4.5. Amgen Inc.
12.4.6. Abbott Laboratories
12.4.7. Novartis A.G.
Segments Covered in the Report
The global biopharmaceutical market has been segmented on the basis of
Market Types
- Enzyme Market
- Cancer Monoclonal Antibodies Market
- Biosimilar Market
- Protein Therapeutics Market
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Biogen Idec.
- Pfizer Inc.
- GlaxoSmithKline PLC.
- Merck & Co.
- Amgen Inc.
- Abbott Laboratories
- Novartis A.G.
Key players competing in the global biopharmaceutical market are Biogen Idec.; Pfizer Inc.; GlaxoSmithKline PLC; Merck & Co.; Amgen Inc.; Abbott Laboratories; and Novartis A.G. Many of these players have adopted business strategies such as launch of new products, advancement of technologies, partnerships, mergers, and production capacity expansion in order to increase their consumer base and market position globally.
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