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  • Published On : Jun 2022
  • Code : CMI18
  • Industry : Biotechnology
  • Pages : 156
  • Formats :

Biopharmaceuticals are drugs that are partially or fully manufactured, or extracted from biological sources such as proteins, viruses, and cells. Biopharmaceuticals contain variety of products such as monoclonal antibodies, vaccines, recombinant human insulin, human growth hormone, erythropoietin, interferon, colony stimulating factor, and blood factors. Different from traditional drugs synthesized from chemical processes, majority of biopharmaceutical products are derived from biological processes such as recombinant deoxyribonucleic acid (DNA) technologies

Global biopharmaceutical and biomedicine market is estimated to be valued at US$ 561,375.9 million in 2022 and is expected to exhibit a CAGR of 9.6% during the forecast period (2022-2030).

Figure 1.Global Biopharmaceutical and Biomedicine Market Share (%), by Application, 2022

Biopharmaceutical and Biomedicine  | Coherent Market Insights

Increasing biopharmaceuticals and biomedicines product launch and approvals are expected to drive growth of the biopharmaceutical and biomedicine market

Increasing product launch and approvals by regulatory authorities to key players in market are expected to drive market growth over the forecast period. For instance, in May 2022, Biocon Biologics, a subsidiary of Biocon, and Viatris Inc., a global healthcare company, announced the launch of Abevmy, a recombinant humanized monoclonal antibody that selectively binds to human vascular endothelial growth factor (VEGF) and neutralizes its biologic activity. Abevmy inhibits the formation of tumor vasculature, thereby inhibiting tumor growth. Abevmy is a biosimilar co-developed by Biocon Biologics and Viatris Inc.

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Biopharmaceutical and Biomedicine Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 561,375.9 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 9.6% 2030 Value Projection: US$ 1,165,862.8 Mn
Geographies covered :
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Biopharmaceutical (Monoclonal Antibodies, Vaccines, Recombinant Human Insulin, Human Growth Hormone, Erythropoietin, Interferon, Colony Stimulating Factor, Blood Factors, Fusion Protein, Others), Nanomedicine, Cell & Gene Therapy, Bioinformatics, Molecular Enzymes & Kits
  • By Application: Therapeutics, Diagnostics, Research and Development
Companies covered:

Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd.

Growth Drivers:
  • Increasing  biopharmaceuticals and biomedicines product launch and approvals
  • Increasing research and development activities and robust pipeline of biopharmaceuticals and biomedicines
Restraints & Challenges:
  • High cost of biopharmaceutical and biomedicine products

Figure 2.Global Biopharmaceutical and Biomedicine Market Share (%), by Region, 2022

Biopharmaceutical and Biomedicine  | Coherent Market Insights

Increasing research and development activities and robust pipeline of biopharmaceuticals and biomedicines are expected to drive market growth during the forecast period.

Increasing research and development activities by key players in the market for developing recombinant vaccines is expected to drive market growth over the forecast period. For instance, on June 14, 2022, Genexine, Inc., a clinical-stage biotechnology company focused on the development and commercialization of immunotherapeutics and next-generation long-acting biologics, announced that its partner, I-MAB Biopharma Co., Ltd., an innovation-driven global biopharma company ,recently completed patient enrollment in a phase 3 clinical trial of its proprietary long-acting growth hormone, eftansomatropin alfa, also known as GX-H9/TJ101, in China

Global Biopharmaceutical and Biomedicine Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.

However, the COVID-19 pandemic had a positive impact on the global biopharmaceutical and biomedicine market, owing to increased research and development activities by the key players for developing vaccines for the COVID-19 infection. The key players in market were focused on developing and receiving approvals for vaccines to treat COVID-19 infection. For instance, on June 5, 2022, the Drugs Controller General of India gave approval to Biological E Limited., an India-based biotechnology and biopharmaceutical company, for the Corbevax vaccine to be administered as a booster shot to individuals aged 18 years and above, six months after they have already received two doses of either Serum Institute’s Covishield or Bharat Biotech’s Covaxin. Corbevax is a recombinant protein sub-unit vaccine developed against COVID-19 infection.

Global Biopharmaceutical and Biomedicine Market: Key Developments

In June 13, 2022, Innovent Biologics, Inc., a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of oncology, autoimmune, metabolic, ophthalmology and other major diseases, and PT Etana Biotechnologies Indonesia, an Indonesia-based biotechnology company, jointly announced that the Indonesian Food and Drugs Authority (Badan Pengawas Obat dan Makanan) had approved Bevagen (bevacizumab biosimilar), a recombinant humanized anti- vascular endothelial growth factor (anti-VEGF) monoclonal antibody drug, for five indications including metastatic colorectal cancer (mCRC), locally recurrent or metastatic triple negative breast cancer (mTNBC), advanced, metastatic, or recurrent non-small cell lung cancer(NSCLC), epithelial ovarian, fallopian tube, and primary peritoneal cancer (OC), and cervical cancer(CC).

In May 2022, JSR Life Sciences, a company offering research products and services for outsourced drug discovery and development, announced the launch of a new business division, Similis Bio, which would function as a partnering division to work with biopharmaceutical companies to improve efficiency and reduce costs related to biosimilar development.

Global Biopharmaceutical and Biomedicine Market: Restraint

The major factors that hinder growth of the global biopharmaceutical and biomedicine market include high cost of biopharmaceutical and biomedicine products. Costs of biopharmaceutical and biomedicine products are quite high as these need research and development process, and their manufacturing is a very complex process, which needs highly skilled scientists. Such expensive biopharmaceutical products are not affordable to organizations in emerging economies such as India, China, etc. High cost of biopharmaceutical and biomedicine products is a major factor hindering its adoption. For instance, in India a vial of Avastin, a monoclonal antibody, costs between US$ 372.65 to US$ 402.46. High cost medicine is not affordable to everyone, hence, it is a major restraining factor for market growth.

Key Players

Major players operating in the global biopharmaceutical and biomedicine market include Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd.

A biopharmaceutical (biological or biologic), which consists of sugars, proteins, nucleic acids, living cells, or tissues, is a medicinal product semi-synthesized from biological sources such as humans, animals, or microorganisms. Biopharmaceuticals has emerged as one of the key segments with immense growth potential in the healthcare sector. Rising demand for effective treatment of diseases and rise in per capita healthcare expenditure has led to double digit revenue growth for market players in the recent past.

The biopharmaceutical and biomedicine market is expected to gain further traction, with evolving treatment options and rapid technological innovation such as cell therapy and regenerative medicines. Fewer side effects, high effectiveness and potent action, and ability to cure the disease rather than treating it are some of the major advantages of biopharmaceutical and biomedicine drugs. Currently, biopharmaceuticals accounts for over one-fifth of pharmaceutical market, and this percentage share of biopharmaceutical is expected to increase, owing to its advantages compared to totally synthesized pharmaceutical drugs.

Market Dynamics

Increasing adoption of inorganic strategies by key players in market such as acquisitions is expected to drive market growth over the forecast period. For instance, in May 2022, GSK plc, a multinational pharmaceutical company, announced that it had entered into a definitive agreement to acquire Affinivax, Inc., a clinical-stage biopharmaceutical company. Affinivax is pioneering the development of a novel class of vaccines, the most advanced of which are next-generation pneumococcal vaccines. The acquisition will further strengthen the vaccines research & development pipeline of GSK plc and broaden its existing scientific footprint in Boston, U.S.

Key features of the study:

  • This report provides in-depth analysis of the global biopharmaceutical and biomedicine market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global biopharmaceutical and biomedicine market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global biopharmaceutical and biomedicine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts1
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biopharmaceutical and biomedicine market

Detailed Segmentation:

  • Global Biopharmaceutical and Biomedicine Market, By Product Type:
    • Biopharmaceutical
      • Monoclonal Antibodies
      • Vaccines
      • Recombinant Human Insulin
      • Human Growth Hormone
      • Erythropoietin
      • Interferon
      • Colony Stimulating Factor
      • Blood Factors
      • Fusion Protein
      • Others
    • Nanomedicine
    • Cell & Gene Therapy 
    • Bioinformatics 
    • Molecular Enzymes & Kits   
  • Global Biopharmaceutical and Biomedicine Market, By Application:
    • Therapeutics
    • Diagnostics
    • Research and Development
  • Global Biopharmaceutical and Biomedicine Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Amgen Inc.
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Hoffmann-La Roche Ltd
    • Johnson & Johnson Services, Inc.
    • Pfizer Inc.
    • Sanofi
    • Eli Lilly and Company
    • AbbVie Inc.
    • Novo Nordisk A/S
    • Bristol-Myers Squibb Company
    • NanoString
    • QIAGEN
    • Affimed GmbH
    • GSK plc.
    • Merck KGaA
    • Teva Pharmaceutical Industries Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global biopharmaceutical and biomedicine market size is estimated to be valued at US$ 561,375.9 million in 2022 and is expected to exhibit a CAGR of 9.6% between 2022 and 2030.
Factors such as increasing biopharmaceuticals and biomedicines product launch and approvals and increasing research and development activities and robust pipeline of biopharmaceuticals and biomedicines are expected to drive the market growth.
Therapeutics is the leading application segment in the market.
The major factors hampering growth of the market include high cost of biopharmaceutical and biomedicine products.
Major players operating in the market include Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd.

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