PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497739
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497739
Biopharmaceuticals Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Key Highlights
The biopharmaceutical market generated a value of USD 448.1 billion in 2023, which will rise to USD 745.1 billion, powering at more than 7.4% compound annual growth rate, by 2030.
The surging elderly populace, the incidence of associated health problems, and the rising need for better biologic drugs are likely to create a healthy growth environment for the players.
The rising research and development as well as therapeutic acceptance of bio-based medications are driving industry expansion.
Since the introduction of biosimilars for anti-TNF products, average costs in Europe have reduced by around 8%, while biosimilars for G-CSF and erythropoietin have reduced by 33-34%.
This has aided the extensive acceptance of biopharmaceuticals. The effectiveness and safety of bio-based medications have resulted in their quick acceptance by people.
Many organizations and businesses are concentrating on R&D related to biological drugs. The number of NDAs/ BLAs registered per year has significantly increased.
With the increasing incidence of infectious diseases, neurological disorders, and cancer, the importance of biopharmaceuticals is rising.
They are utilized for treating neurodegenerative disorders, many of which necessitate bio-medications to be administered into the brain directly, which is not possible with conventional synthetic agents.
Market Insights
North America accounted for the largest share of the industry in 2023, of approximately 45%.
This is because of the high R&D funding, increasing acceptance of technologically improved solutions, the existence of international players, and their emphasis on coming up with newer patents. The U.S. led the industry in this continent.
With the development of conventional pharma sciences and biotechnology, the consciousness about the best treatments with fewer side effects has also surged.
The U.S. leads the worldwide biopharmaceutical research and development list with over 150,000 studies performed since 2008, due to the size and prominence of its pharmaceutical industry.
In the U.S., California accounts for the most studies, partly, due to its strong tech sector as well as its desire for innovation.
Oncology led the industry in 2023, with a share of approximately 40%. In the past few years, biopharmaceuticals have been dominant in cancer trials than trials for non-cancer conditions.
Cell and gene therapies will grow at the fastest compound annual growth rate in the years to come.
There have been several improvements in this area, representing advanced research, which is being employed in clinical trials in different therapeutic fields, such as cell & gene therapies and targeted therapies like precision drugs.
Monoclonal antibodies accounted for the largest share of the industry in 2023, of 35%, and it will further propel at approximately 7.2% CAGR during this decade.
Monoclonal antibodies (mAbs) are the most significant class of biologics, which account for over 20% of all the therapeutic candidates approved by the FDA.
Some mAbs have been permitted for anti-inflammatory, anti-cancer, and additional therapeutic applications. Precisely, because of their widespread utilization in cancer treatment, they are becoming widespread in developed nations like the U.K. and the U.S.
The biopharmaceutical industry is characterized by strong competition among mid-sized firms, large global firms, and new biotech firms.
Major factors boosting the competition are innovative R&D, regulatory compliance, market access, and product differentiation.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by product type
- 1.4.2. Market size breakdown, by therapeutic application
- 1.4.3. Market size breakdown, by region
- 1.4.4. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Product Type (2017-2030)
- 6.3. Market Revenue, by Therapeutic Application (2017-2030)
- 6.4. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Product Type (2017-2030)
- 7.3. Market Revenue, by Therapeutic Application (2017-2030)
- 7.4. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Product Type (2017-2030)
- 8.3. Market Revenue, by Therapeutic Application (2017-2030)
- 8.4. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Product Type (2017-2030)
- 9.3. Market Revenue, by Therapeutic Application (2017-2030)
- 9.4. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Product Type (2017-2030)
- 10.3. Market Revenue, by Therapeutic Application (2017-2030)
- 10.4. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Product Type (2017-2030)
- 11.3. Market Revenue, by Therapeutic Application (2017-2030)
- 11.4. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Product Type (2017-2030)
- 12.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Product Type (2017-2030)
- 13.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Product Type (2017-2030)
- 14.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Product Type (2017-2030)
- 15.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Product Type (2017-2030)
- 16.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Product Type (2017-2030)
- 17.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Product Type (2017-2030)
- 18.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Product Type (2017-2030)
- 19.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Product Type (2017-2030)
- 20.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Product Type (2017-2030)
- 21.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Product Type (2017-2030)
- 22.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Product Type (2017-2030)
- 23.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Product Type (2017-2030)
- 24.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Product Type (2017-2030)
- 25.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Product Type (2017-2030)
- 26.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Product Type (2017-2030)
- 27.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Product Type (2017-2030)
- 28.3. Market Revenue, by Therapeutic Application (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Johnson & Johnson Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. F. Hoffmann-La Roche AG
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Pfizer Inc
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Merck & Co. Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. AbbVie Inc.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Sanofi SA
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Eli Lilly and Company
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Abbott Laboratories
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. AstraZeneca plc
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Novartis AG
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Biogen Inc.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
