Biopharmaceutical Market Size Worth USD 1651.4 Billion in 2032 | Emergen Research

The global biopharmaceutical market size was USD 411.4 Billion in 2022 and is expected to register a rapid revenue CAGR of 15.2% during the forecast period. The global biopharmaceutical market is witnessing robust growth, fueled by increasing investments in Research & Development (R&D) and technological advancements, coupled with the rising prevalence of chronic diseases worldwide. Key factors such as the development of messenger Ribonucleic Acid (mRNA)-based vaccines, gene therapy, and immunotherapy are reshaping the landscape of the biopharmaceutical industry.

The Need for Advanced Treatments: Chronic diseases such as cancer, diabetes, and heart disease are on the rise, driving the demand for innovative treatments. According to the World Health Organization (WHO), chronic diseases account for approximately 71% of all deaths globally, with over 46% of adults worldwide affected by at least one chronic condition. Unhealthy lifestyles, environmental factors, and an aging population contribute to the increasing burden of chronic diseases.

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Technological Advancements Driving Innovation: Rapid technological advancements, including gene therapy, Artificial Intelligence (AI), and immunotherapy, are revolutionizing the biopharmaceutical market. These advancements enable the development of more targeted, personalized, and effective treatments. Collaborations between companies such as Cognizant and Boehringer Ingelheim aim to leverage advanced technologies to enhance the speed and quality of medicinal therapy development.

Market Segment Insights:

1. Product Segment:

Monoclonal antibodies dominate the market due to their effectiveness in treating chronic diseases such as cancer, autoimmune disorders, and inflammation. Researchers are continually enhancing the specificity and affinity of monoclonal antibodies, leading to more personalized and effective therapies.
2. Application Segment:

The oncology segment holds a significant market share, driven by the rising prevalence of cancer globally. Technological advancements in cancer treatment, including targeted therapies and immunotherapies, further contribute to the segment's growth.

3. End-Use Segment:

Big biopharma companies lead the market, benefiting from their expertise in drug development and manufacturing. Rising costs and the need for faster time to market drive the dominance of these companies in the biopharmaceutical sector.

Market Outlook:

Despite the promising growth prospects, the high cost of drug development and stringent regulatory requirements pose challenges to market expansion. Biopharmaceutical companies face hurdles in bringing new products to market, leading to a shortage of innovative treatments for patients.

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Looking Ahead:

As the global biopharmaceutical market continues to evolve, collaborations, technological advancements, and a focus on personalized medicine will shape the industry's future. Governments, private organizations, and pharmaceutical companies are expected to drive innovation and address the growing healthcare needs of populations worldwide.

Biopharmaceutical Top Companies and Competitive Landscape

The global biopharmaceutical market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more biopharmaceutical market solutions.

• AbbVie
• Eli Lilly and Company
• Novo Nordisk
• Amgen
• Pfizer
• Roche
• Johnson and Johnson
• Bristol Myers Squibb
• Takeda
• Biogen

Biopharmaceutical Latest Industry News

• On 17 August 2023, Parexel collaborated with Partex Healthcare to use AI for drug discovery and development. One of the most significant challenges in drug development is predicting investigational therapies are safe and effective in treatment options or not. This partnership with Partex addresses this challenge by identifying assets with clinical trials. The company's ambition is to deliver safe and effective treatments to patients around the world by uniting Partex's cutting-edge AI capabilities with Parexel's esteemed clinical research expertise.

• On 11 January 2022, Fosun Pharma and Insilco Medicine collaborated to advance the discovery and development of drugs targeting a number of different targets globally through the use of Artificial Intelligence (AI) technology. This strategic alliance encompasses an AI-powered drug discovery R&D collaboration focused on four biological targets, along with the joint development of Insilico's QPCTL program. This collaboration aims to develop AI-driven drug discovery platforms and Fosun Pharma's extensive clinical development and commercial expertise to create a portfolio of groundbreaking therapeutics.

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Biopharmaceutical Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global biopharmaceutical market on the basis of product type, application, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o Monoclonal Antibodies
o Recombinant Growth factor
o Vaccine
o Recombinant Hormone
o Purified Protein
o Others

• Application Outlook (Revenue, USD Billion; 2019-2032)
o Oncology
o Inflammatory
o Autoimmune
o Infectious
o Metabolic Disorder
o Cardiovascular Diseases (CVDs)

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Big-biopharma Companies
o Small Biopharma Companies

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

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