Biopharmaceuticals Market Is Likely to Experience a Tremendous Growth by 2029

Global biopharmaceuticals market is anticipated to grow at a CAGR of 7.2% during the forecast period (2023-2030). The rising prevalence of various chronic diseases, the growing geriatric population, rising investments in the research and development of new drugs, supportive government regulations, and rising adoption of biopharmaceuticals among the global population are some of the important factors that drive the growth of the global biopharmaceutical market. According to the Centers for Disease Control and Prevention (CDC), in May 2023, four leading causes of mortality were heart disease, cancer, unintentional injuries, and COVID-19. Provisional mortality estimates provide an early indication of shifts in mortality trends and can guide public health policies and interventions aimed at reducing mortality, including deaths directly or indirectly associated with COVID-19. 

According to the World Health Organization (WHO), in February 2022, cervical cancer is the fourth most common cancer among women globally, with an estimated 604,000 new cases and 342,000 fatalities in 2020. About 90.0% of the new cases and casualties globally in 2020 occurred in low- and middle-income countries. Institutions should develop safe and effective methods to prevent, detect, diagnose, treat, and, ultimately, cure cancer-like deadly diseases. For instance, in January 2023, the Serum Institute of India launched the first made-in-India qHPV vaccine, 'CERVAVAC'. Cervical cancer is prevalent among women in younger age groups, and this virus contributes to about 84.0% of cancers to a lesser or greater extent. 

Growth hormone deficiency (GHD) is a rare disease characterized by the inadequate secretion of the growth hormone somatropin from the pituitary gland, affecting one in approximately 4,000 to 10,000 children. For instance, in June 2023, Pfizer Inc. and OPKO Health Inc. announced that the US FDA had approved NGENLA (somatrogon-ghla), a once-weekly human growth hormone analog indicated for the treatment of pediatric patients aged three years and older who have growth failure due to inadequate secretion of endogenous growth hormone.

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Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered- 

By Product Type
By Service
By Application
Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- F. Hoffmann-La Roche AG, Johnson & Johnson, AbbVie, Inc., Merck & Co., Inc., Novartis AG, Pfizer Inc., and others,

 Biopharmaceuticals Market Report Segment

By Product Type

Monoclonal Antibodies
Recombinant Growth Factors
Purified Proteins
Vaccines
Hormone
Gene Therapies
Other (Interferon, Synthetic Immunomodulators)
By Service

Laboratory Testing
Customer Proprietary Testing
Compendial and Multi Compendial Laboratory Testing
By Application

Oncology
Inflammatory and Infectious Diseases
Autoimmune Disorders
Metabolic Disorders
Cardiovascular Diseases
Neurological Diseases
Other (Hormonal Disorders)
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Biopharmaceuticals Market Report Segment by Region

North America                                                                                                           

·        United States
·        Canada
Europe

·        UK
·        Germany
·        Spain
·        France
·        Italy
·        Rest of Europe
Asia-Pacific

·                  India
·                  China
·                  Japan
·                  South Korea
·                  Rest of APAC
Rest of the World

Latin America
Middle East and Africa 
Company Profiles

AbbVie Inc.
Bayer AG 
Abbott Laboratories 
Allergan, Inc.
Amgen Inc. 
AstraZeneca plc
Bayer AG
Biogen Inc.
bioMerieux SA
Bristol-Myers Squibb 
Eli Lilly and Company
GlaxoSmithKline PlcPharmaceuticals Ltd.
McKesson Corp.
Moderna, Inc.
Merck & Co., Inc.
Novartis AG
Novo Nordisk A/S 
Sanofi SA
Takeda Pharmaceutical Industries, Ltd.
Vertex Pharmaceuticals
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