Biopharmaceuticals Market by Product Type (Monoclonal Antibodies, Purified Proteins, Recombinant Growth Factors), Services (Compendial & Multi Compendial Laboratory Testing, Custom Testing or Customer Proprietary Testing, Laboratory Testing), Raw Material

Biopharmaceuticals Market by Product Type (Monoclonal Antibodies, Purified Proteins, Recombinant Growth Factors), Services (Compendial & Multi Compendial Laboratory Testing, Custom Testing or Customer Proprietary Testing, Laboratory Testing), Raw Material Type, Application - Global Forecast 2024-2030

The Biopharmaceuticals Market size was estimated at USD 574.04 billion in 2023 and expected to reach USD 627.19 billion in 2024, at a CAGR 9.74% to reach USD 1,100.51 billion by 2030.

Biopharmaceuticals, also known as biologics, refer to medical drugs produced using biotechnology. They are comprised of proteins and nucleic acids and are used for therapeutic or diagnostic purposes. Unlike traditional pharmaceuticals, which are chemically synthesized and have well-defined molecular structures, biopharmaceuticals are derived from living organisms. These organisms can include bacteria, yeast, or mammalian cells that are genetically engineered to produce the desired therapeutic substances, such as hormones, antibodies, or vaccines. The rising incidences of chronic and infectious diseases such as cancer, cardiovascular disorders, tuberculosis, Crohn's disease, and arthritis have created a need for novel biopharmaceuticals. Additionally, the expansion of healthcare infrastructure, growing access to healthcare services, and supportive government initiatives that promote the discovery and development of new pharmaceuticals have further generated growth for the industry. However, maintaining cold chain logistics for temperature-sensitive products can prove to be a hurdle for biopharmaceuticals. Furthermore, complexities in manufacturing processes can also significantly impede the widespread growth of the industry. However, key players are investing in new technologies such as AI/ML and data analytics to streamline and accelerate the production of biopharmaceuticals. Moreover, the adoption of personalized medicine and advancement in genomic research can create new opportunities for the growth of the industry.

Regional Insights

The Americas region, particularly the U.S. and Canada, remains a highly advanced region in biopharmaceutical research and development, spurred by a combination of robust intellectual property rights, a science-driven regulatory framework, and a competitive market landscape. The U.S. Food and Drug Administration (FDA) continuously adapts to the rapid pace of innovation, ensuring safe and effective treatments reach patients. The presence of several key players in the biotechnological sector and a robust healthcare infrastructure that provides reimbursements and health insurance have led to the growth of the biopharmaceutical industry. The EU region boasts a robust ground for research and development in the sphere of life sciences and biotechnology. Stringent regulations and standards pertaining to the development of biopharmaceuticals have created a standardized, systematic, and safe environment for innovations in biopharmaceuticals. The European Medicines Agency (EMA) in the EU plays a central role in facilitating the development and accessibility of new therapies. Strong public-private partnerships and a commitment to healthcare innovation define the EU's consumer needs and behavior, which lean towards high-quality, sustainable healthcare solutions. In the APAC region, a growing aging population and government incentives and initiatives for promoting access to affordable healthcare services have led to a need for biopharmaceuticals. Japan, with its established pharmaceutical sector, is characterized by significant spending on healthcare solutions. Countries in the APAC region, such as India and China, have focused on the cost-effective manufacturing of biopharmaceuticals and often invest in biosimilar production.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Biopharmaceuticals Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Prevalence of Chronic Diseases and Need for Targeted Biopharmaceuticals
    • Rising Investments in Vaccine and Drugs Development
    • Attractive Reimbursement Policies for Biopharmaceuticals
    • Market Restraints
      • Raw Material Supply Chain Disruptions and High Cost of Drug Development
      • Market Opportunities
        • Advancements in Biopharmaceutical Manufacturing and Testing Technologies
        • Emerging Trends of Outsourcing Biologics and Vaccine Manufacturing
        • Market Challenges
          • Stringent Regulatory Framework for Drug Manufacturing and Time-Consuming Clinical Trials
          • Market Segmentation Analysis
            • Product Type: Ongoing R&D initiatives to promote innovations in the field of monoclonal antibodies
            • Services: Need for compendial & multi compendial laboratory testing to ensure compliance with regulations
            • Raw Material Type: Efforts to develop potent APIs to diagnose, cure, or mitigate disease conditions
            • Application: Changes in lifestyles leading to the need for treatment strategies for cardiovascular diseases
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Biopharmaceuticals Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Biopharmaceuticals Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • AstraZeneca Will Acquire RSV Vaccine Developer Icosavax For $1.1 Billion
              
              AstraZeneca entered into a definitive agreement to purchase Icosavax, a vaccine company specializing in the development of candidates designed to combat diseases caused by respiratory viruses, in a deal valued at USD 1.1 billion. This strategic move reflects AstraZeneca's commitment to expanding its vaccine portfolio and also positions the company to enhance its infectious disease capabilities by leveraging Icosavax's vaccine technology.
              
              LEQEMBI Intravenous Infusion (Lecanemab) for the Treatment of Alzheimer’s Disease to be Launched in Japan on December 20
              
              Eisai Co., Ltd. announced the impending release of their therapy LEQEMBI Intravenous Infusion (lecanemab) in Japan. Formulated as a humanized monoclonal antibody targeting soluble aggregated amyloid-beta (Aβ), this innovative treatment for Alzheimer’s disease has also been included in the Japan National Health Insurance (NHI) Drug Price List. This target-specific, anti-amyloid therapeutic option would be available in two dosage strengths, 200 mg, and 500mg, signifying a major advancement in the management of Alzheimer's disease.
              
              HHS Announces Details of Partnership with Regeneron to Develop Life-Saving Monoclonal Antibodies
              
              The U.S. Department of Health and Human Services (HHS) has officially announced refinements to its partnership with biotechnology firm Regeneron Pharmaceuticals in a concerted effort to advance the development of monoclonal antibodies critical for combating COVID-19. This collaboration, fostered under Project NextGen, signifies a strategic move to advance the nation's preparedness against emerging strains and variants of the virus.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Biopharmaceuticals Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Biopharmaceuticals Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AbbVie Inc., Abgenex, Amgen Inc., AstraZeneca PLC, Avidea Technologies, Bayer AG, Bio-Techne Corporation, Biogen Inc., bioMérieux SA, Bristol-Myers Squibb Company, BTL Biotechno Labs Pvt. Ltd., Eli Lilly and Company, F. Hoffmann-La Roche AG, Ferring Pharmaceuticals, GlaxoSmithKline PLC, Ipsen Pharma, Johnson & Johnson Services, Inc., LG Chem Life Sciences Innovation Center, Inc., Merck & Co., Inc., Nordic BioSite, Novartis AG, Novo Nordisk A/S, Pfizer, Inc., Sanofi S.A., Takeda Pharmaceutical Company Limited, and Thermo Fisher Scientific Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Biopharmaceuticals Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product Type
              • Monoclonal Antibodies
              • Purified Proteins
              • Recombinant Growth Factors
              • Recombinant Hormone
              • Recombinant Proteins
              • Synthetic Immunomodulators
              • Vaccines
              • Services
                • Compendial & Multi Compendial Laboratory Testing
                • Custom Testing or Customer Proprietary Testing
                • Laboratory Testing
                • Raw Material Type
                  • Active Pharmaceutical Ingredient
                  • Formulation Excipients
                  • Application
                    • Autoimmune Disorders
                    • Cardiovascular Diseases
                    • Hormonal Disorders
                    • Immunology
                    • Inflammatory & Infectious Diseases
                    • Metabolic Disorders
                    • Neurological Diseases
                    • Oncology
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • New York
                          • Ohio
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year