Global $389Bn Biopharmaceuticals Market Outlook, 2024 - Monoclonal Antibodies are Expected to Have the Largest Market Size - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 19, 2019--The “Biopharmaceuticals Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The global biopharmaceuticals market was valued at USD 237,250.8 million in 2018, and is estimated to be valued at USD 388,997.3 million in 2024, witnessing a CAGR of 8.59%. The market growth is attributed to the growing acceptance for biopharmaceuticals due to their ability to treat previously untreatable diseases, resulting in huge market demand for biopharmaceuticals.
Biopharmaceuticals offer several benefits, such as highly effective and potent action, fewer side effects, and the potential to actually cure diseases rather than merely treat the symptoms, which have significantly increased the demand for biopharmaceutical products.
Biopharmaceuticals have reduced the number of deaths due to cancer and HIV/AIDS in the past decade, which has led to an increase in the adoption of biopharmaceuticals in the global market.
Biopharmaceuticals have given an alternative to the previously less effective and sometimes unsafe treatments, and it allows clinicians to tailor treatments to the specific medical problems experienced by each patient.
Key Market Trends
Monoclonal Antibodies are Expected to Have the Largest Market Size
Among the given segments, monoclonal antibodies are believed to have the largest market size. This can be attributed to the growing research done with the help of monoclonal antibodies. On the other hand, the recombinant enzymes segment is expected to show rapid growth during the forecast period.
Monoclonal antibodies (mAbs) find their application in the areas of cancer treatment. Their use is becoming prevalent in developed countries, such as the United States and the United Kingdom. The mAb drugs in oncology are gaining momentum and growing at a decent pace. The segment is dominating the market currently, and the trend is expected to be followed in the future.
The recombinant enzymes, such as Enterokinase, are gaining attraction because of their efficacy in the digestion of the dietary proteins. Over the years, 100% native protein sequences have been produced using Enterokinase. This application has improved the market scope for this particular enzyme in the recent years.
North America is Expected to Dominate the Biopharmaceuticals Market
North America currently dominates the market for biopharmaceuticals, and is expected to continue its stronghold for a few more years. Asia-Pacific is expected to increase its market share in the future owing to increase in the prevalence of diseases, such as diabetes and cancer, along with the regulatory framework that is feasible for the approval of biopharmaceuticals in the region.
The United States holds the majority of the market in the North American region; this is due to the increasing prevalence of chronic diseases. In addition, there is a rise in per capita health expenditure in the country that is expected to increase over the forecast period, owing to the decrease in the unemployment rate.
The biopharmaceuticals market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by introducing new products with less prices.
Companies like Amgen, Eli Lily & Company, Johnson & Johnson, and Pfizer hold a significant share in the biopharmaceuticals market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Acceptance for Biopharmaceuticals
4.2.2 Ability of Biopharmaceuticals to Treat Previously Untreatable Diseases
4.2.3 Huge Market Demand
4.3 Market Restraints
4.3.1 Increasing Demand for Affordable Biopharmaceuticals
4.3.2 High-end Manufacturing Requirements
4.3.3 Complicated and Cumbersome Regulatory Requirements
5 Market Segmentation
5.1 By Product Type
5.1.1 Monoclonal Antibodies
184.108.40.206 Anti Cancer Monoclonal Antibodies
220.127.116.11 Anti-inflammatory Monoclonal Antibodies
18.104.22.168 Other Monoclonal Antibodies
5.1.2 Recombinant Growth Factors
22.214.171.124 Granulocyte Colony Stimulating Factor
5.1.3 Purified Proteins
126.96.36.199 Leukemia Inhibitory Factor (LIF)
188.8.131.52 P53 Protein
184.108.40.206 P38 Protein
220.127.116.11 Other Purified Proteins
5.1.4 Recombinant Proteins
18.104.22.168 Serum Albumin
22.214.171.124 Amyloid Protein
5.1.5 Recombinant Hormones
126.96.36.199 Recombinant Hormones
188.8.131.52 Recombinant Insulin
184.108.40.206 Other Recombinant Hormones
220.127.116.11 Recombinant Vaccines
18.104.22.168.1 Cancer Vaccines
22.214.171.124.2 Malaria Vaccines
126.96.36.199.3 Ebola Vaccine
188.8.131.52.4 Hepatitis-b Vaccine
184.108.40.206.5 Tetanus Vaccine
220.127.116.11.6 Diptheria Vaccine
18.104.22.168.7 Cholera Vaccine
22.214.171.124.8 Other Vaccines
126.96.36.199 Conventional Vaccines
188.8.131.52.1 Polio Vaccine
184.108.40.206.2 Pox Vaccine
220.127.116.11.3 Other Conventional Vaccines
18.104.22.168 Recombinant Enzymes
22.214.171.124 Cell and Gene Therapies
126.96.36.199.1 Allogeneic Products
188.8.131.52.2 Autologous Products
184.108.40.206.3 Acellular Products
220.127.116.11 Other Product Types
18.104.22.168.1 Blood Factors
22.214.171.124.2 Other Product Types
5.1.7 Synthetic Immunomodulators
126.96.36.199 Cytokines, Interferones, Interleukins
188.8.131.52 Tumor Necrosis Factor (TNF)
5.2 By Therapeutic Application
5.2.2 Inflammatory and Infectious Diseases
5.2.3 Autoimmune Disorders
5.2.4 Metabolic Disorders
5.2.5 Hormonal Disorders
5.2.6 Disease Prevention
5.2.7 Cardiovascular Diseases
5.2.8 Neurological Diseases
5.2.9 Other Diseases
5.3.1 North America
5.3.3 Asia Pacific
5.3.4 Middle East and Africa
5.3.5 South America
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Abbvie Inc.
6.1.2 Amgen Inc.
6.1.3 Bristol-Myers Squibb Company
6.1.4 Eli Lily & Co.
6.1.5 Johnson & Johnson
6.1.6 Novartis AG
6.1.7 Novo Nordisk Inc.
6.1.8 Pfizer Inc.
6.1.9 GlaxoSmithKline PLC
6.1.10 Roche Holding AG
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/35f3m2/global_389bn?w=4
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INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 03/19/2019 07:12 AM/DISC: 03/19/2019 07:12 AM