Biopharmaceuticals Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Biopharmaceuticals Market
The biopharmaceuticals market size was valued at USD 571.84 billion in 2023, and the market is now projected to grow from USD 616.94 billion in 2024 to USD 1,183.72 billion by 2032, exhibiting a CAGR of 8.5% during the forecast period of 2024-2032.
The global marketplace witnessed powerful boom during the COVID-19 pandemic due to the immoderate call for biopharmaceutical products, pushed with the useful resource of the improvement and deployment of effective COVID-19 vaccines and therapeutics. Regulatory agility and growing approvals for COVID-19 vaccines brought about robust income in 2021. From 2023, as COVID-19 cases decline, the market is predicted to develop progressively, driven via ability pipeline candidates probable to get hold of approval inside the coming near years.
Rising occurrence of persistent illnesses globally is extensively using the call for these capsules. Governments are actively generating consciousness and promoting the adoption of these medications. Consequently, the drug marketplace for specialized fields, focusing on the treatment of chronic, uncommon, and genetic sicknesses, is predicted to regularly expand.
Robust pipeline candidates in rising areas, especially Asia Pacific, are set to propel marketplace increase. Asia Pacific has grown to be a clinical trial hotspot, contributing nearly 50% of worldwide activity due to its big patient population, decrease trial expenses, government aid, and efficient regulatory techniques. This location's strategic importance and lower danger of competing trials have made it crucial in addressing global patient enrollment issues and improving international trials.
Comprehensive Analysis of Biopharmaceuticals Market
The biopharmaceuticals market growth is rising at an exponential rate due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by type analysis, by application analysis and by distribution channel analysis. By type analysis includes, immunomodulators, enzymes, vaccines, hormones, and others. By application analysis include cardiology, oncology, respiratory, immunology, neurology, and others. By distribution channel analysis includes, hospital pharmacies, drug stores & retail pharmacies, and online pharmacies.
The North America region lead the biopharmaceuticals market share by benefitting a market size of USD 285.00 billion in 2023 due to the rising prevalence of chronic diseases such as cancer and a higher rate of diagnosis and treatment.
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Pfizer Inc. (U.S.), AbbVie Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Johnson & Johnson Services, Inc. (U.S.), Bayer AG (Germany), Lilly (U.S.), Sanofi (France), Merck & Co., Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Novartis AG (Switzerland), GSK plc (U.K.), Takeda Pharmaceutical Company Limited (Japan), these market players provide a level-playing competitive landscape.
In December 2023Novartis AG announced the approval of Fabhalta, the primary oral monotherapy, via the U.S. FDA for the remedy of paroxysmal nocturnal hemoglobinuria in adults.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 8.5% from 2024-2032
Unit Value (USD Billion)
Segmentation By Type
Immunomodulators
- Monoclonal Antibodies
- Cytokines
- Interferons
- Others
Enzymes
- Hyrdolases
- Lyases
- Oxidoreductases
- Others
Vaccines
- Recombinant/Conjugate/Subunit
- Inactivated
- Live Attenuated
- Toxoid
Hormones
- Human Growth Hormones
- Insulin
- Thyroid Stimulating Hormones
- Others
Others
By Application
Cardiology
Oncology
Respiratory
Immunology
Neurology
Others
By Distribution Channel
Hospital Pharmacies
Drug Stores & Retail Pharmacies
Online Pharmacies
By Region
North America (By Type, Application, Distribution Channel, and Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Type, Application, Distribution Channel, Country, and Country/Sub-Region)
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Scandinavia (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Type,Application, Distribution Channel, and Country/Sub-Region)
- China (By Application)
- India (By Application)
- Japan (By Application)
- Australia (By Application)
- Southeast Asia (By Application)
- Rest of Asia Pacific (By Application)
Latin America (By Type, Application, Distribution Channel, and Country/Sub-Region)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
Middle East & Africa (By Type, Application, Distribution Channel, and Country/Sub-Region)
- GCC (By Application)
- South Africa (By Application)
Rest of Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Virtual Tour Software Key Players Market Share/Ranking, 2022
- 5. Global Virtual Tour Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- 5.1. Key Findings
- 5.2. By Deployment (USD)
- 5.2.1. Cloud
- 5.2.2. On-premise
- 5.3. By End-user (USD)
- 5.3.1. Real Estate
- 5.3.2. Education
- 5.3.3. Tourism & Hospitality
- 5.3.4. Automotive
- 5.3.5. Others (Healthcare, etc.)
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Middle East & Africa
- 5.4.5. South America
- 6. North America Virtual Tour Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- 6.1. Key Findings
- 6.2. By Deployment (USD)
- 6.2.1. Cloud
- 6.2.2. On-premise
- 6.3. By End-user (USD)
- 6.3.1. Real Estate
- 6.3.2. Education
- 6.3.3. Tourism & Hospitality
- 6.3.4. Automotive
- 6.3.5. Others
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.2. Canada
- 6.4.3. Mexico
- 7. Europe Virtual Tour Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- 7.1. Key Findings
- 7.2. By Deployment (USD)
- 7.2.1. Cloud
- 7.2.2. On-premise
- 7.3. By End-user (USD)
- 7.3.1. Real Estate
- 7.3.2. Education
- 7.3.3. Tourism & Hospitality
- 7.3.4. Automotive
- 7.3.5. Others
- 7.4. By Country (USD)
- 7.4.1. United Kingdom
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Benelux
- 7.4.8. Nordics
- 7.4.9. Rest of Europe
- 8. Asia Pacific Virtual Tour Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- 8.1. Key Findings
- 8.2. By Deployment (USD)
- 8.2.1. Cloud
- 8.2.2. On-premise
- 8.3. By End-user (USD)
- 8.3.1. Real Estate
- 8.3.2. Education
- 8.3.3. Tourism & Hospitality
- 8.3.4. Automotive
- 8.3.5. Others
- 8.4. By Country (USD)
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. South Korea
- 8.4.5. ASEAN
- 8.4.6. Oceania
- 8.4.7. Rest of Asia Pacific
- 9. Middle East & Africa Virtual Tour Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- 9.1. Key Findings
- 9.2. By Deployment (USD)
- 9.2.1. Cloud
- 9.2.2. On-premise
- 9.3. By End-user (USD)
- 9.3.1. Real Estate
- 9.3.2. Education
- 9.3.3. Tourism & Hospitality
- 9.3.4. Automotive
- 9.3.5. Others
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.2. Israel
- 9.4.3. GCC
- 9.4.4. North Africa
- 9.4.5. South Africa
- 9.4.6. Rest of MEA
- 10. South America Virtual Tour Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- 10.1. Key Findings
- 10.2. By Deployment (USD)
- 10.2.1. Cloud
- 10.2.2. On-premise
- 10.3. By End-user (USD)
- 10.3.1. Real Estate
- 10.3.2. Education
- 10.3.3. Tourism & Hospitality
- 10.3.4. Automotive
- 10.3.5. Others
- 10.4. By Country (USD)
- 10.4.1. Brazil
- 10.4.2. Argentina
- 10.4.3. Rest of South America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. RTV, Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Concept3D, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Klapty
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Kuula LLC
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Matterport, Inc.
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. CloudPano
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. My360
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Eyespy360
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. 3DVista Stitcher
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Roundme Limited
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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