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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Biopharmaceuticals Market Outlook
The global biopharmaceuticals market size was valued at USD 438.79 billion in 2023, driven by the increasing prevalence of chronic diseases, advancements in the medical sector, and the growing investments by the leading life sciences companies. The market is anticipated to grow at a CAGR of 7.6% during the forecast period 2024-2032 to reach a value of USD 848.34 billion by 2032.
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Monoclonal Antibodies Segment Predicted to Hold a Significant Market Share over the Forecast Period
Based on product type, monoclonal antibodies (MAbs) are expected to hold a significant share in the biopharmaceuticals industry during the forecast period, owing to their increased therapeutic applications to treat chronic disorders and in the field of oncology. They are developed artificially in laboratories using biotechnological tools. Monoclonal antibodies are used to cure different types of autoimmune conditions, infectious diseases, and cancer. Their lower toxicity and enhanced safety compared to chemotherapy drugs have proven to improve patient survival rates and reduce adverse side effects. These factors are expected to aid the growth of the segment in the coming years.
North America Secured the Largest Market Share and is Anticipated to Retain its Dominance in the Forecast Period
Geographically, North America is anticipated to dominate the global market for biopharmaceuticals during the forecast period. The increasing investments in research and development activities and the growing burden of chronic disease are the key factors driving the biopharmaceuticals industry growth in North America. Meanwhile, the biopharmaceuticals industry is expected to grow at a significant CAGR in the Asia Pacific region during the forecast period due to an increase in the number of people suffering from diabetes and other chronic diseases and the increased availability of biopharmaceutical products in the region.
Biopharmaceuticals: Market Segmentation
Biopharmaceuticals are medicinal products containing proteins, sugars, nucleic acid, tissues, and living cells derived from various biological sources such as animals, microorganisms, and humans. In 1982, recombinant human insulin (Humulin) made from specially modified bacteria was the first biopharmaceutical approved by the food and drug administration (FDA) for human therapeutic uses and marketing. Following the success of Humulin, various types of biopharmaceuticals have been derived from recombinant DNA such as whole blood, vaccine, antigens, hormones, immunosera, enzymes, cytokines, monoclonal antibodies, allergenic, and gene therapies, among others.
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By product type, the industry can be segmented into:
- Monoclonal Antibodies
- Anti-Cancer Monoclonal Antibodies
- Anti-Inflammatory Monoclonal Antibodies
- Others
- Recombinant Growth Factors
- Erythropoietin
- Granulocyte Colony Stimulating Factor
- Purified Proteins
- Leukemia Inhibitory Factor (LIF)
- P53 Protein
- P38 Protein
- Others
- Recombinant Proteins
- Serum Albumin
- Amyloid Protein
- Defensin
- Transferrin
- Recombinant Hormones
- Recombinant Human Growth Hormones
- Recombinant Insulin
- Others
- Vaccines
- Recombinant Vaccines
- Cancer Vaccines
- Malaria Vaccines
- Ebola Vaccine
- Hepatitis B Vaccine
- Tetanus Vaccine
- Diphtheria Vaccine
- Cholera Vaccines
- Others
- Conventional Vaccines
- Polio Vaccine
- Pox Vaccine
- Others
- Recombinant Vaccines
- Recombinant Enzymes
- Enterokinase
- Cyclase
- Caspase
- Cathepsin
- Cell and Gene Therapies
- Allogenic Products
- Autologous Products
- Acellular Products
- Synthetic Immunomodulators
- Cytokines, Interferons, and Interleukins
- Others
Based on therapeutic application, the industry can be divided into:
- Oncology
- Inflammatory and Infectious Diseases
- Autoimmune Disorders
- Metabolic Disorders
- Hormonal Disorders
- Cardiovascular Diseases
- Neurological Diseases
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increase in Research and Development Activities to Bolster the Growth of the Global Biopharmaceuticals Industry
The biopharmaceuticals industry has been growing considerably for the last few years. The biopharmaceutical products are widely used in the treatment of diabetes, cancer, rheumatoid arthritis, and psoriasis. Extensive use of biopharmaceuticals in the treatment of chronic diseases, such as diabetes, cancer, and heart diseases, is a key factor expected to propel the market growth during the forecast period. Moreover, the growing research and development activities by the major pharmaceutical companies and the rapid advancements in genetic engineering are the key trends in the market, which are expected to further propel the biopharmaceuticals industry.
Key Industry Players in the Global Biopharmaceuticals Market
The report gives a detailed analysis of the following key players in the global biopharmaceuticals market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Amgen Inc.
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- Novo Nordisk A/S
- Pfizer Inc.
- GlaxoSmithKline plc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Therapeutic Application |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global biopharmaceuticals market reached a value of USD 438.79 billion in 2023.
The market is anticipated to grow at a CAGR of 7.6% during the forecast period of 2024-2032 to reach a value of USD 848.34 billion by 2032.
The increasing prevalence of chronic diseases, advancements in the medical sector, and the growing investments by the leading life sciences companies are the major factors propelling the growth of the market.
The key market trends guiding the growth of the industry include the rise in research and development activities by pharmaceutical companies and the advancements in genetic engineering.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.
Monoclonal antibodies, recombinant growth factors, purified proteins, recombinant proteins, recombinant hormones, vaccines, recombinant enzymes, cell and gene therapies, and synthetic immunomodulators, among others are the significant product types in the industry.
Oncology, inflammatory and infectious diseases, autoimmune disorders, metabolic disorders, hormonal disorders, cardiovascular diseases, and neurological diseases, among others are the significant therapeutic applications of the product.
The major players in the industry are Amgen Inc., AbbVie Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Novo Nordisk A/S, Pfizer Inc., and GlaxoSmithKline plc., among others.
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