The pharmaceutical giants are focusing on development of biopharmaceuticals through investment in research & development and production of biopharmaceuticals and biomedicines. Biopharmaceuticals has emerged as a prime segment of pharmaceutical industry and has witnessed prominent growth over last couple of years and holds significant growth potential.
Though the cost associated with biopharmaceuticals is significantly high as compared to traditional drugs, rising demand for effective treatment and increasing per capita healthcare expenditure are dynamically shaping the global biopharmaceutical and biomedicine market.
Additionally, increasing research & development expenditure, and rising prevalence of chronic diseases are anticipated to be major factors fueling demand for biopharmaceutical and biomedicines during forecast period.
North America dominated the global biopharmaceutical and biomedicine market owing to rapid transformation of healthcare landscape and steady adoption of biopharmaceuticals.
Additionally, availability of excellent research & development infrastructure in the United States, and streamlined insurance reimbursement policies, are other parameters supporting the growth of North America biopharmaceutical and biomedicine market. Asia Pacific is anticipated to witness steady adoption of biopharmaceutical owing to limited demand from this geography.
Major players dominating the global biopharmaceuticals and biomedicine market include AbbVie Inc., Affimed N.V., Amgen Inc., Bristol - Myers Squibb, Celgene Corporation, Eli Lilly and Company, F. Hoffmann-La Roche AG, Johnson & Johnson, NanoString Technologies, Inc., Novartis AG, Novo Nordisk A/S, Pfizer, Inc., Qiagen N.V., and Sanofi S.A.
The report titled “Biopharmaceuticals and Biomedicine Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” offers market estimates for a period 2019 to 2032, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global biopharmaceuticals and biomedicine market.
Furthermore, the report would reflect on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study.
For instance, Novartis AG reported revenues of US$ 51,900 Million in 2018 and the segment and geographic analysis of the company indicates Innovative Medicines business segment of the company dominated revenue in 2018 with the United States and Europe generating 69% of total revenue.
The global biopharmaceuticals and biomedicine market is segmented based on type, application, and geography. Based on type, global biopharmaceuticals and biomedicine market is segmented into Nano medicine, cell & gene therapy, system biology, bio informatics, molecular enzymes & kits, and others. Based on application, the global market is segmented into therapeutics, diagnostics, and research & development. Based on geography, the global biopharmaceuticals and biomedicine market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Additionally, the study provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on Biopharmaceuticals and Biomedicine. Further, market share of company in the global biopharmaceuticals and biomedicine market would also be calculated.
For instance, Novartis AG operates through three business divisions namely Innovative Medicines, Sandoz, and Alcon. Biopharmaceuticals and biomedicine are delivered under Sandoz business division of the company with revenue contribution of US$ 9.9 Billion in 2018.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the biopharmaceuticals and biomedicine companies. Furthermore, the global biopharmaceuticals and biomedicine market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
A portfolio would focus on all the products under the biopharmaceuticals and biomedicine market business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global biopharmaceuticals and biomedicine market arena.
For instance, in December 2018, Novartis AG completed the acquisition of Endocyte, a US-based biopharmaceutical company focused on developing targeted therapeutics for cancer treatment at approximately US$ 2.1 billion. Key players in the global biopharmaceuticals and biomedicine market are strongly focusing on developing advanced biopharmaceuticals and biomedicine to cater the rising demand from global market.
Market Segmentation:
By Type
By Application
By Geography
Increasing research & development expenditure, and rising prevalence of chronic diseases are anticipated to be major factors fueling demand for biopharmaceutical and biomedicines during forecast period. The global biopharmaceutical and biomedicines market is anticipated to witness significant growth during the forecast period.
North America dominated the global biopharmaceutical and biomedicine market owing to rapid transformation of healthcare landscape and steady adoption of biopharmaceuticals.
Based on type, the biopharmaceutical and biomedicines market is segmented into Nano medicine, cell & gene therapy, system biology, bio informatics, molecular enzymes & kits, and others
AbbVie Inc., Affimed N.V., Amgen Inc., Bristol - Myers Squibb, Celgene Corporation are the top 5 Biopharmaceuticals and Biomedicine manufacturers.
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