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The global biopharmaceuticals market size is estimated to grow by USD 204.09 billion at a CAGR of 7.98% between 2023 and 2028. Biologics are unique molecular entities that have proven to be more effective than chemical drugs due to the targeted mechanism of action they exert in the body. By providing a targeted action, biologics tend to be more effective and have fewer side effects than small-molecule agents. Hence, the introduction of biological therapy to manage health disorders is driving the growth of the biopharma market at a very rapid pace. Further, the targeted and specific actions offered by biologics have made them acquire a special and highly differentiated place in the biopharmaceuticals market. Physicians prefer biologics as the first line of treatment for various health disorders. This market research and growth also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
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The market is characterized by the utilization of biological sources such as bacteria, yeast, and mammalian cells in biotechnological processes to develop pharmaceutical drugs. These drugs, including small-molecule drugs and those derived from living organisms, target various medical conditions such as autoimmune disorders, hormonal disorders, cardiovascular diseases, and neurological diseases. The market thrives on advancements in genomics and molecular diagnostics, enabling the discovery and development of innovative treatments. Rigorous multi compendial laboratory testing ensures the safety and efficacy of formulations, including active pharmaceutical ingredients and formulation excipients, driving growth in the biochip market and bio-pharma sector. mRNA synthesis raw materials play a crucial role in this ecosystem, supporting the production of cutting-edge mRNA-based therapies that are at the forefront of medical innovation.
Technavio has segmented the market into Product, Application, and Geography. The market is at the forefront of combating chronic diseases such as cardiovascular diseases (CVD) and diabetes, which are increasingly prevalent due to factors like aging populations and lifestyle changes. Biological drugs, derived from living organisms, offer innovative treatment options for these health issues, targeting specific disease pathways with high efficacy. In the production of biologic drugs, Multi Compendial Laboratory Testing ensures rigorous quality control and compliance with international standards. Active Pharmaceutical Ingredients (API) play a pivotal role in formulating these drugs, contributing to their therapeutic efficacy and safety. As the demand for effective treatments for chronic diseases continues to rise, pharmaceutical companies are investing heavily in research and development to advance biologic drugs that address the unmet needs of patients worldwide.
The market share by the monoclonal antibodies segment will be significant during the forecast period. Monoclonal antibodies are high-priced drugs that offer life-saving advantages. Although the sales (in terms of volume) are not as high as that of other pharmaceutical products such as non-steroidal anti-inflammatory drugs and cardiovascular drugs, the revenues generated from individual molecules are high due to the high price of monoclonal antibodies.
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The monoclonal antibodies segment was the largest and was valued at USD 151.68 billion in 2018. Further, the increased incidences of cancer and immunological disorders, where monoclonal antibodies have huge applications, will drive segment growth during the forecast period. Globally, the incidences of cancer and autoimmune disorders, including rheumatoid arthritis, psoriasis, Crohn's disease, and ulcerative colitis, are increasing. In line with this, the demand for advanced therapeutics, such as biologics, for treating such chronic and debilitating conditions is increasing, which, in turn, is propelling the demand for monoclonal antibodies that will drive the growth momentum of the monoclonal antibodies segment of the market during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have outlined how regional trends and driving forces will influence the market trajectory in the coming forecast period. The United States stands out as a primary driver of growth in the North American biopharmaceutical market, largely due to increased healthcare expenditure dedicated to addressing conditions such as oncology, autoimmune, hormonal, and metabolic disorders. Notably, the prevalence of autoimmune diseases affecting over 50 million Americans annually, as reported by the American Autoimmune Related Diseases Association (AARDA), underscores the significant demand for treatments. Moreover, the presence of numerous regional biopharmaceutical firms and ongoing health research initiatives further boosts the demand for biopharmaceuticals utilized in drug development processes.
Furthermore, prominent pharmaceutical giants like Merck KGaA (Merck), Pfizer Inc. (Pfizer), Amgen Inc. (Amgen), and Bristol Myers Squibb Co. maintain robust footholds in the region. These industry leaders are directing their efforts towards the development of novel drug compounds, thereby stimulating demand for biopharmaceuticals and nurturing the expansion of the North American biopharmaceutical market throughout the projected period.
Enterprises are deploying diverse tactics such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches to bolster their market presence. The report further provides comprehensive analyses of the competitive terrain, detailing insights into 20 key market entities, encompassing:
AbbVie Inc. - The company offers bio pharma products such as Actigall, Actonell, and Acular LS.
The report has conducted both qualitative and quantitative analyses of companies to assist clients in comprehending the broader business landscape, including the strengths and weaknesses of key market participants. Qualitative analysis categorizes companies as pure play, category-focused, industry-focused, and diversified, while quantitative analysis categorizes them as dominant, leading, strong, tentative, and weak.
The market is experiencing robust growth driven by the increasing prevalence of chronic diseases like cardiovascular disease (CVD) and diabetes, especially among the aging population. Biologic drugs, derived from biological sources such as bacteria, yeast, and mammalian cells, are gaining traction for treating various health issues. Clinical trials are essential for testing the efficacy and safety of these drugs, which are often developed through biotechnological processes. Moreover, advancements in genomics and molecular diagnostics are revolutionizing drug development, particularly for autoimmune disorders, hormonal disorders, and neurological diseases. The market also encompasses the production of small-molecule drugs, formulation excipients, and active pharmaceutical ingredients (APIs), ensuring compliance with compendial standards. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The escalating incidence of health disorders is a prominent driver of market growth. Health disorders, including oncology, metabolic, hormonal, and autoimmune conditions, are witnessing a substantial increase on a global scale. For example, according to the World Health Organization, cancer ranks among the leading causes of death worldwide, claiming nearly 10 million lives in 2020 alone, representing approximately one in six deaths. Furthermore, the prevalence of health disorders is particularly elevated among individuals with conditions such as diabetes mellitus, obesity, high blood pressure, hypertension, and smoking addiction, with the number of affected individuals experiencing significant growth.
Furthermore, this rise in health disorder prevalence is expected to spur demand for corresponding treatments, consequently driving the adoption of biopharmaceuticals and fueling the growth of the biopharmaceutical market during the forecast period.
A growing number of acquisitions by market vendors is an emerging trend shaping market growth. Prominent players in the biopharma market are primarily focusing on various growth strategies such as acquisitions, partnerships, and collaborations to broaden their landscapes and garner large market shares. The market has the presence of international and local players. The prominent players in the market strategically focus on acquisitions to expand their business in the biopharmaceuticals market. Acquisitions help companies to strengthen their product offerings and enhance diversification in supporting the end-users.
For instance, in January 2021, Angelini Pharma, a subsidiary of Angelini S.p.a., and Arvelle Therapeutics, a biopharmaceutical company, announced that they had reached a definitive merger agreement under which Angelini Pharma would acquire Arvelle Therapeutics. Also, in October 2020, Bayer AG announced the acquisition of Asklepios BioPharmaceutical to broaden its innovation base in cell and gene therapy. Such factors are expected to contribute to the growth of biopharma market growth during the forecast period.
Issues related to the entry of new biopharmaceuticals are a significant challenge hindering the market growth. Several challenges restrict the entry of new biologics into the market. For instance, the strict conditions laid down by regulatory bodies, which do not allow rapid approval of biologics, are a major challenge. Thus, it takes a lot of time and capital investment to develop a new product in the market. Furthermore, to enter the market, new biologics need to ensure higher patient compliance than older biologics.
However, it is difficult for new biopharmaceuticals to find acceptance among patients; the older existing biologics have achieved some level of product differentiation, and they are routinely accepted by physicians and patients. This is one of the major challenges that will negatively affect the growth of the biopharmaceuticals market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Biopharmaceuticals Market Customer Landscape
The market addresses the rising challenges of chronic diseases like cardiovascular diseases (CVD) and health issues prevalent among the aging population. It leverages biological drugs derived from living organisms such as bacteria, yeast, and mammalian cells, produced through biotechnological processes. Clinical trials are conducted to test the efficacy of pharmaceutical drugs sourced from biological sources. These drugs, along with small-molecule drugs, undergo compendial and Multi Compendial Laboratory Testing, involving formulation excipients and active pharmaceutical ingredients (API). The market also explores advancements in genomics and molecular diagnostics to address hormonal disorders and neurological diseases through innovative therapeutic approaches.
The market encompasses a wide range of biologic drugs and biosimilars, including anti-TNF products, erythropoietin, and G-CSF, which are vital in treating various conditions like neurological disorders and cancer. Technological advancements have revolutionized cancer treatment, with bio-based drugs and second-generation therapeutics showing promising results in clinical trials. The manufacturing of biopharmaceuticals involves sophisticated equipment and devices, along with analytical methods to ensure quality and efficacy. Patent expirations have led to the emergence of biosimilars and innovative therapies like monoclonal antibodies (mAbs). Regulatory bodies like the FDA oversee the approval and distribution of these drugs, which target biological mechanisms such as cytokines and interferons (IFNs). Cell and gene therapies are also gaining momentum, reshaping the landscape of healthcare delivery worldwide.
The biopharmaceuticals market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Biopharmaceuticals Market Scope |
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Report Coverage |
Details |
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Page number |
184 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.98% |
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Market Growth 2024-2028 |
USD 204.09 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.35 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 42% |
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Key countries |
US, Germany, France, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Amgen Inc., Angelini S.p.a., AspenBio, Astellas Pharma Inc., AstraZeneca Plc, Bayer AG, Biogen Inc., Bristol Myers Squibb Co., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Ipsen Pharma, Johnson and Johnson, Merck KGaA, Novartis AG, Novo Nordisk AS, Pfizer Inc., Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Vertex Pharmaceuticals Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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