BIOPHARMACEUTICAL AND BIOMEDICINE MARKET ANALYSIS

Biopharmaceutical and Biomedicine Market, by Product Type (Biopharmaceutical (Monoclonal Antibodies, Vaccines, Recombinant Human Insulin, Human Growth Hormone, Erythropoietin, Interferon, Colony Stimulating Factor, Blood Factors, Fusion Protein, and Others), Nanomedicine, Cell & 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, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jun 2022
Code : CMI18
Pages :156
Formats :
Excel and PDF
Industry : Biotechnology

Market Challenges And Opportunities

Global Biopharmaceutical and Biomedicine Market: Restraint

The major factors that hinder growth of the global biopharmaceutical and biomedicine market include high cost of biopharmaceutical and biomedicine products. Costs of biopharmaceutical and biomedicine products are quite high as these need research and development process, and their manufacturing is a very complex process, which needs highly skilled scientists. Such expensive biopharmaceutical products are not affordable to organizations in emerging economies such as India, China, etc. High cost of biopharmaceutical and biomedicine products is a major factor hindering its adoption. For instance, in India a vial of Avastin, a monoclonal antibody, costs between US$ 372.65 to US$ 402.46. High cost medicine is not affordable to everyone, hence, it is a major restraining factor for market growth.

Restraints & Challenges: