Global Biopharmaceutical and Biomedicine Market, By Product Type (Biopharmaceutical, Nanomedicine, Gene Therapy, Bioinformatics, and Molecular Enzymes & Kits), By Application (Therapeutics, Diagnostics, and Research and Development) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 358.4 Bn in 2016 and is projected to exhibit a CAGR of 9.4% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Frequent launches and approvals of novel biopharmaceutical products is expected to drive the market growth in the near future.
In 2017, Sanofi S.A. received U.S. Food and Drug Administration (FDA) approval for Dupixent (dupilumab) injection to treat adults suffering from moderate to severe eczema (atopic dermatitis). In 2017, F. Hoffmann-La Roche AG received FDA approval for Hemlibra (emicizumab-kxwh), indicated to prevent and reduce bleeding incidents among children and adults suffering from haemophilia A with factor VIII inhibitors. In 2017, Novo Nordisk A/S received the U.S. FDA approval for REBINYN (Coagulation Factor IX (Recombinant), GlycoPEGylated) indicated for treatment and control of bleeding episodes, and perioperative management of bleeding among children and adults. In 2017, Novo Nordisk received U.S. FDA approval for Fiasp (Insulin aspart injection). Fiasp is a fast acting mealtime insulin, which is indicated to improve glycemic control among adults suffering from type 1 and type 2 diabetes. In 2017, Serum Institute of India launched its Rabishield, a rabies monoclonal antibody, developed in partnership with the University of Massachusetts Medical School. In 2017, Mundipharma GmbH launched its Truxima (rituximab), a biosimilar monoclonal antibody for the treatment of cancer, in the UK, Germany, Italy, the Netherlands, Belgium, Republic of Ireland, and Luxembourg, following authorization by the European Medicines Agency (EMA). The launches and approvals of such novel biopharmaceutical and biomedicine technologies is expected to create a conducive environment for growth of the global biopharmaceutical and biomedicine market.
Browse 45 Market Data Tables and 42 Figures spread through 285 Pages and in-depth TOC on Biopharmaceutical and Biomedicine Market By Product Type (Biopharmaceutical, Nano medicine, Gene Therapy, Bioinformatics, and Molecular Enzymes & Kits Market) and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025
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Strategic collaboration of key players and research institutes in the market for the development of biopharmaceutical and biomedicine technologies is also expected to positively affect the market growth. For instance, in February 2018, AbbVie Inc. and Voyager Therapeutics, Inc. entered into a strategic partnership for the development and commercialization of gene therapies for Alzheimer's disease and other neurodegenerative diseases. In February 2018, Kite Pharma, Inc., a Gilead Sciences, Inc. company, collaborated with Sangamo Therapeutics Inc. for developing engineered cell therapies to treat cancer. As per the agreement, Kite Pharma, Inc. will use Sangamo Therapeutics’ zinc finger nuclease (ZFN) gene-editing product type for developing next-generation ex vivo cell therapies for treatment of cancer. In 2017, The National Institutes of Health collaborated with 11 leading biopharmaceutical companies to boost the development of new cancer immunotherapy. The partners include AbbVie Inc., Amgen Inc., Boehringer Ingelheim Pharma GmbH & Co. KG, Bristol-Myers Squibb, Celgene Corporation, Genentech Inc., subsidiary of Roche Group, Gilead Sciences, Inc., GlaxoSmithKline Plc., Janssen Pharmaceutical Companies of Johnson & Johnson, Novartis A.G., and Pfizer, Inc. In 2017, AbCellera Biologics, Inc. collaborated with GlaxoSmithKline plc. for the discovery of monoclonal antibodies against an undisclosed membrane protein target.
Key Takeaways of the Biopharmaceutical and Biomedicine Market:
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