Biopharmaceuticals and Biomedicine Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024

Biopharmaceuticals and Biomedicine Market Introduction

Biopharmaceuticals has emerged as one of the key segments holding immense growth potential within the healthcare sector. Rising demand for effective treatment and rise in per capita healthcare expenditure has led to double digit revenue growth for industry players in recent years. The industry offers especially lucrative growth opportunities, since most of these products still have low penetration rate among the populace. The market is set to gain further traction, with evolving treatment archetypes and rapid technological innovation such as cell therapy and regenerative medicines.  The global biopharmaceutical and biomedicine market was valued at over US$ 185 Mn in 2015, accounting for over 23% share of overall pharmaceuticals market and is expected to gain further market share in the near future. Major pharmaceutical companies are focusing on increasing investments in the biopharmaceuticals and biomedicine market, as the industry has yielded higher return on investment compared to generic drugs market. Thus, the biopharmaceuticals and biomedicine market is characterized by rapid rise in consolidation.

Expected Commercialization of Biologics is Creating Favorable Growth Environment for Biopharmaceuticals and Biomedicine Market

Biopharmaceutical and biomedicine market growth correlates highly with per capita healthcare expenditure, healthcare amenities, and R&D spending on development of new products. Global healthcare spending rose by 1.7% Y-o-Y in 2016. Also, there has been a spurt in incidence rate of chronic diseases worldwide. The combination of the two aforementioned factors leads to growth in demand for biopharmaceutical drugs. Though, price of these drugs are comparatively higher than generic drugs, strong demand from end users has led to rapid increase in sales of biopharmaceutical and biomedicine drugs. Development of new concept drugs along with expected commercialization of pipeline drugs is set to further spur biopharmaceuticals and biomedicine market growth. Though industry is gaining significant traction worldwide, high operational costs, stringent regulatory compliances, and supply chain complexity are major challenges for stakeholders. 

Biopharmaceuticals and Biomedicine Market Taxonomy:

Coherent Market Insights has segmented the biopharmaceutical and biomedicine market on the basis of the following:

  • Product Type
  • Biomedicine Branch

On the basis of product type, the biopharmaceutical and biomedicine market has been segmented into vaccines, somatic cells, cytokines, allergenic, hormones, recombinant therapeutic proteins, and monoclonal antibodies. The vaccines segment dominated the market in 2015.

On the basis of biomedicine branch, the biopharmaceutical and biomedicine market has been segmented into cell technologies, nano medicines, gene therapy, biochips, system biology, and bioinformatics.

Changing healthcare landscape and adoption of alternative business operating model to drive growth of North America biopharmaceutical and biomedicine market

The biopharmaceutical and biomedicine market report covers analysis across regions – North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Geographically, North America accounted for over 52% share of global industry revenue in 2015. However, the region is expected to lose significant market share to emerging markets of Asia Pacific and Latin America over the following decade. Healthcare expenditure in North America is highest worldwide at 16.7%. Moreover, the region is characterized by presence of robust healthcare infrastructure, presence of leading biopharmaceutical companies, and large patient pool with high spending power. In the recent past, the market in the region has witnessed sluggish growth rate. Thus, companies need to overcome structural shifts and adopt new operating model to sustain in this highly competitive market.

Europe was the second-largest market for biopharmaceuticals and biomedicine, with Germany, U.K., Italy, and France being the largest revenue contributors. Europe accounted for 20.7% share of global market in 2015.

Asia Pacific is expected to be the most dynamic market, with record-setting growth rate over the forecast period (2016–2024). China and India are expected to be the largest markets in the region. Increase in FDI cap in healthcare sector in India would create lucrative growth opportunities for players seeking to strengthen their market presence in this key growth market.

Inorganic growth to obtain competitive edge

Major players in the biopharmaceuticals and biomedicine market include Quest Pharmatech, Inc., AMEGA Biotech, Teva Pharmaceutical Industries, Apeiron Biologics AG, Sanofi S.A., Eli Lilly and Company, Sigma Aldrich Corporation, Mallinckrodt Pharmaceuticals, OncoMed Pharmaceuticals, Inc., and Janssen Biotech, Inc.

Companies need to constantly upgrade their manufacturing and operational capabilities in order to sustain growth in the market.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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