Biopharmaceuticals and Biomedicine Market Revenue by 2026 | Amgen Inc., F. Hoffmann-La Roche AG, Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi S.A

In 2017, Sanofi S.A. received U.S. Food and Drug Administration (FDA) approval for Dupixent (dupilumab) injection to treat adults suffering from moderate to severe eczema (atopic dermatitis). In 2017, F. Hoffmann-La Roche AG received FDA approval for Hemlibra (emicizumab-kxwh), indicated to prevent and reduce bleeding incidents among children and adults suffering from haemophilia A with factor VIII inhibitors. In 2017, Novo Nordisk A/S received the U.S. FDA approval for REBINYN (Coagulation Factor IX (Recombinant), GlycoPEGylated) indicated for treatment and control of bleeding episodes, and perioperative management of bleeding among children and adults.

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In 2017, Novo Nordisk received U.S. FDA approval for Fiasp (Insulin aspart injection). Fiasp is a fast acting mealtime insulin, which is indicated to improve glycemic control among adults suffering from type 1 and type 2 diabetes. In 2017, Serum Institute of India launched its Rabishield, a rabies monoclonal antibody, developed in partnership with the University of Massachusetts Medical School. In 2017, Mundipharma GmbH launched its Truxima (rituximab), a biosimilar monoclonal antibody for the treatment of cancer, in the UK, Germany, Italy, the Netherlands, Belgium, Republic of Ireland, and Luxembourg, following authorization by the European Medicines Agency (EMA).

The launches and approvals of such novel biopharmaceutical and biomedicine technologies is expected to create a conducive environment for growth of the global biopharmaceutical and biomedicine market.

Market Dynamics

Launches and approvals of novel biopharmaceutical and biomedicine products is expected to drastically drive growth of global biopharmaceutical and biomedicine market in the near future. For instance, in 2016, Sanofi S.A. received U.S. FDA approval for its Adlyxin ((lixisenatide) injection. Adlyxin is indicated to improve blood sugar levels among adults suffering from type 2 diabetes. In 2016, Johnson & Johnson received U.S. FDA approval for its Stelara (Ustekinumab), indicated for the treatment of adults suffering from moderately to severely active crohn’s disease.

In 2016, CSL Behring received U.S. FDA approval for its IDELVION, Coagulation Factor IX (Recombinant), Albumin Fusion Protein. IDELVION is indicated for the treatment of Hemophilia B among children and adults.

In 2017, Nanostring Technologies, Inc. launched nCounter platform advances as well as new panels expanding the company’s presence in immuno-oncology and 3D biology research. In 2015, Celltrion Healthcare Co., Ltd. launched its Remsima (infliximab), a biosimilar monoclonal antibody (mAb) in Austria, Belgium, Denmark, France, Germany, Greece, Italy, Luxembourg, the Netherlands, Spain, Sweden, and the UK. Furthermore, increasing collaborations and acquisitions by major key players in market is also expected to create lucrative environment for growth of market.

Market Outlook

Cost of biopharmaceutical and biomedicine products are quite high as these need research and development process, and its manufacturing is very complex process, which needs highly skilled scientists. Such expensive biopharmaceutical products are not affordable to organizations in emerging economies such as India, China, and Africa. High cost of biopharmaceutical and biomedicine is a major factor hindering its adoption. For instance, in India a vial of Avastin, a monoclonal antibody, costs between US$ 372.65 to US$ 402.46.

High cost medicine is not affordable to everyone, hence, it is a major restraining factor for the market growth. Cost of gene therapy such as Kymriah is very high. Kymriah is a CD19-directed genetically modified autologous T cell immunotherapy indicated for the treatment of patients up to 25 years of age with B-cell precursor acute lymphoblastic leukemia. The cost of Novartis AG’s cancer therapy Kymriah is about US$ 475,000

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Key players operating in the global biopharmaceutical and biomedicine market include Amgen Inc., F. Hoffmann-La Roche AG, Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi S.A., Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol - Myers Squibb, NanoString Technologies, Inc., Qiagen N.V., Celgene Corporation, and Affimed N.V.

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