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.
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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.
Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
- Segment Covered-
o By Product Type
o By Service
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- F. Hoffmann-La Roche AG, Johnson & Johnson, AbbVie, Inc., Merck & Co., Inc., Novartis AG, Pfizer Inc., and others,
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global 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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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.
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