Biopharmaceutical And Biomedicine Market
The Global Biopharmaceutical and Biomedicine Market is estimated to be valued at USD 571.10 Bn in 2024 and is expected to reach USD 1,254.21 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.91% from 2024 to 2031. The global biopharmaceutical and biomedicine market has witnessed tremendous growth over the past few decades. Rising investment in research and development activities by both public and private sectors has led to path breaking innovations in the field of biologics, genetic engineering and novel drug development. Advancements in areas such as cell and gene therapy, regenerative medicine, monoclonal antibodies and personalized medicine holds promising prospects for the treatment of chronic and life-threatening diseases. Rapidly aging population and growing incidence of cancer, diabetes and neurological disorders globally has spurred demand for more effective therapeutic options. Moreover, substantial progress in synthetic biology and genetic engineering is allowing scientists to design and develop advanced biologics like vaccines, hormones and blood components, with significant applications in healthcare and other industrial verticals. While growth opportunities remain vast, high R&D costs and stringent regulatory framework continue posing challenges.
Market Dynamics:
The key factors driving the growth of global biopharmaceutical and biomedicine market include rising prevalence of chronic and lifestyle diseases, rapid increase in geriatric population susceptible to various health issues, growing demand for superior healthcare products and services. Moreover, heavy investments by both public and private players in advanced protein engineering, recombinant DNA technology and stem cell research have enabled development of novel biologic drugs and therapies. However, extremely high costs associated with drug development from clinical trial to approval, coupled with delicate manufacturing processes and stringent regulatory oversight continue to restrain faster market expansion. At the same time, growing focus on personalized medicine and 3D bioprinting of tissues and organ present new avenues for market progress. In addition, partnerships between research institutes and industry players are helping accelerate commercialization of promising drug candidates and lower production costs.
Key Features of the Study:
- This report provides in-depth analysis of the global biopharmaceutical and biomedicine market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global biopharmaceutical and biomedicine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include 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
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global biopharmaceutical and biomedicine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biopharmaceutical and biomedicine market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Global Biopharmaceutical and Biomedicine Market' - Global forecast to 2031
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