The Biopharmaceutical and Biomedicine Market, estimated at USD 640.26 Bn in 2025, is expected to exhibit a CAGR of 12.1% and reach USD 1,425.17 Bn by 2032.
The market growth is fueled by rising demand for advanced biotechnology solutions that improve healthcare outcomes, along with increasing adoption in areas such as drug development, diagnostics, and personalized medicine. Innovations in genomics, cell and gene therapies, and biomanufacturing, supported by strong R&D investments, are enhancing treatment effectiveness, efficiency, and accessibility. Furthermore, favorable regulatory support, strategic collaborations, and the growing focus on precision medicine are accelerating market expansion and opening new opportunities for industry participants.
Market Dynamics:
Rising prevalence of chronic diseases such as cancer, diabetes and cardiovascular diseases has been a major driver of growth for the global biopharmaceutical and biomedicine market. In October 2025, according to the WHO, chronic diseases account for approximately 60% of all deaths worldwide. The growing elderly demography will further propel the incidence of such diseases, thereby driving market growth. Additionally, continuous advancements in bioprocessing technologies such as cell culture media, bioreactors and chromatography are helping companies improve production yields and lower costs. This has encouraged R&D investment in large molecule biopharmaceuticals and bolstered market revenues over the forecast period.
Growing Geriatric Population
The global geriatric population is growing at an unprecedented rate due to increasing life expectancy and declining birth rates. Older adults are more susceptible to chronic diseases like cancer, diabetes, cardiovascular diseases, etc. This is driving the demand for novel biopharmaceuticals and biomedicines targeting these conditions. According to the WHO, the number of people aged 65 years and older is projected to grow from about 524 million in 2010 to nearly 1.5 billion in 2050. This growing patient pool will be a significant market driver.
Increasing Investment in R&D
Global pharmaceutical companies as well as startups are investing heavily in R&D to develop advanced biopharmaceuticals and biomedicines. They are focusing on areas like gene and cell therapies, targeted drugs, regenerative medicines etc. For example, the top 10 pharmaceutical companies spent over US$ 76 billion on R&D in 2025 according to Deloitte. Government funding for research has also increased significantly. The growing R&D activity is leading to newer product approvals and launching of cutting-edge therapies, thereby fueling market growth.
High Development Costs
Developing a new biopharmaceutical or biomedical product is an expensive and lengthy process requiring huge investments. It can cost over US$ 2.6 billion to take a new drug from discovery to market approval according to a 2020 Tufts Center study. The high costs are mainly due to expensive preclinical and clinical testing, manufacturing challenges, stringent regulations etc. This makes it difficult for companies, especially startups, to invest in high-risk projects and limits market expansion.
Complex Manufacturing Process
Biopharmaceuticals and advanced cell and gene therapies have a complex manufacturing process compared to traditional drugs. They involve biosynthesis, cell culture, viral vector production etc. Ensuring consistent quality, scale-up ability and stringent safety can be challenging. Any contamination can render the entire batch unusable. This increases production costs and the retail prices, restricting market growth. Resolving technical manufacturing issues also leads to project delays.
Emerging Markets
Many emerging economies like China, India, Brazil, Russia, etc. are experiencing rapid economic growth and development of healthcare infrastructure. Their spending on biopharmaceuticals is rising as non-communicable diseases become more prevalent. However, these regions still have low penetration levels compared to developed markets, representing significant untapped potential. Global players can capitalize on this opportunity through strategic partnerships, collaborations, and local manufacturing.
Expanding Applications
Continuous research advancements are leading to novel applications of biopharmaceuticals and biomedicines in diverse therapeutic areas beyond oncology, diabetes and cardiovascular diseases. Promising application segments include neurology, immunology, ophthalmology, infectious diseases etc. Technologies like monoclonal antibodies, cell, and gene therapies also offer possibilities to develop first-in-class treatments for various refractory and genetic disorders. This opens up new revenue opportunities.
Link - https://www.coherentmarketinsights.com/market-insight/bio-pharmaceuticals-and-biomedicine-market-18
Key Developments:
- On December 7, 2024, Miltenyi Biomedicine presented interim findings from the DALY II USA trial evaluating zamtocabtagene autoleucel (zamto-cel) in patients with third-line, relapsed/refractory diffuse large B-cell lymphoma (R/R DLBCL). The analysis showed a favorable safety profile and promising overall response rate (ORR) and complete response rate (CRR).
- In May 2024, Biocon Limited, a global biopharmaceutical leader, entered into an exclusive licensing and supply agreement with Handok, a specialty pharmaceutical company in South Korea, for the commercialization of Synthetic Liraglutide. This complex, vertically integrated drug product is a pre-filled pen injection used to support chronic weight management alongside a reduced-calorie diet and increased physical activity.
- In September 2023, the U.S. Department of Health and Human Services (HHS) extended its partnership with Regeneron under Project NextGen to develop next-generation monoclonal antibodies for COVID-19 prevention. The US$ 326 million contract modification supports advanced development to enhance preparedness for future variants while aiming to lower drug costs for Americans.
- In April 2023, GSK announced its acquisition of BELLUS Health, a Canada-based biopharmaceutical company, for US$ 2 billion to gain camlipixant, a late-stage drug for refractory chronic cough (RCC). RCC affects millions globally, with no current treatments in the U.S. or EU. Camlipixant, in phase III trials, is expected to launch in 2026, strengthening GSK’s respiratory medicine pipeline.
- In March 2021, Ipsen Biopharmaceuticals Canada Inc. announced the availability of INCRELEX (mecasermin), the first recombinant human IGF-1 therapy approved in Canada for treating severe primary insulin-like growth factor-1 deficiency (SPIGFD) in children aged 2–18. Approved by Health Canada in December 2020, INCRELEX addresses an ultra-rare growth condition affecting fewer than 5 in 10,000 globally.
Key Players:
Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi S.A., Eli Lilly and Company, Hoffmann-La Roche AG, AbbVie Inc., Bristol-Myers Squibb, Qiagen N.V., Affimed N.V., Celgene Corporation, Amgen Inc., Merck & Co., Inc., GSK Plc, and Regeneron Pharmaceuticals
Contact Us