BIOPHARMACEUTICALS MARKET ANALYSIS

Regional Analysis

Global Biopharmaceuticals Market: Regional Insights

Based on geography, the global biopharmaceuticals market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period due to the growing burden of chronic diseases, increasing demand for biopharmaceuticals, increase in research and development, and well-established biopharmaceutical companies' in the region. For instance, with the rise in burden of chronic diseases, such as heart disease and cancer, the demand for safe and effective biopharmaceuticals is also increasing. According to the Centers for Disease Control and Prevention (CDC), heart disease is one of the leading cause of death in the U.S. One person dies every 34 seconds in the U.S. from cardiovascular disease.

Moreover, Europe and Asia Pacific are also expected to witness significant growth in the global biopharmaceuticals market owing to the increasing prevalence of chronic diseases, rise in demand for biopharmaceuticals, increase in research and development activities, and introduction of novel products in these regions. For instance, according to the Biotech-Report by the Boston Consulting Group for vfa bio, Germany continues to be the second largest producer of European Union (EU) approved active biopharmaceutical substances. Sales of biopharmaceuticals in 2020 increased by 14 percent from 2019, amounting to €14.6 billion.

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Middle East and Africa: GCC Countries, Israel, Rest of Middle East, South Africa, North Africa, and Central Africa