1. Home
  2. > Pharmaceutical
  3. > Biopharmaceutical Market Trends
Biopharmaceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Biopharmaceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • November 2022
  • 259 pages
  • ID: 6363545
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The biopharmaceuticals market was valued around USD 401.32 billion in 2021. It is expected to reach USD 534.19 billion in 2027, recording a CAGR of 7.32% over the forecast period (2022-2027).

The COVID-19 pandemic is expected to have a significant impact on the biopharmaceutical industry. Most biopharmaceutical companies are striving extensively for the development of vaccines against the SARS-CoV2 virus. Some of the candidates are traditional-type vaccines such as inactivated and attenuated products. However, most of the vaccine candidates being developed are advanced DNA, RNA, and protein subunit vaccines. This factor is expected to boost the growth of the biopharmaceuticals market over the pandemic. However, the clinical and regulatory procedures for drug candidates for other indications may witness a slow pace due to the shifting priorities of the healthcare system toward reducing COVID-19 infections.

According to Globocan, in 2020, a total of 19,292,789 new cancer cases were diagnosed worldwide, with 9,958,133 deaths due to cancers. Additionally, as per the data from the United Nations World Population Prospects report (2019), by 2050, one in six people in the world may be over 65 years of age, registering an increase from one in 11 in 2019. Also, by 2050, one in four persons living in Europe and North America could be aged 65 years or over. The number of persons aged 80 years or over globally is projected to triple from 143 million in 2019 to 426 million in 2050.

The huge demand for biopharmaceuticals is facilitated by an accelerating focus on R&D-related investments. In 2020, the global spending on R&D reached a record high of ~USD 1.7 trillion, according to the United Nations Educational, Scientific and Cultural Organization (UNESCO) Institute for Statistics.The capability of biopharmaceutical products to address previously untreatable conditions has paved the way for the introduction of innovative drugs in the market. Also, the market demand for biopharmaceuticals is increasing due to the growing need to circumvent the side effects associated with some small-molecule therapeutics and invasive surgical treatments. However, the stringent regulations and the high investments required for the development of biopharmaceutical drugs are the limiting the market studied.

Key Market Trends

Monoclonal Antibodies Expected to Occupy Largest Market Share

The successful use of monoclonal antibodies and antibody derivatives in therapeutics is the primary driver for the rapid growth of the studied segment. The therapeutic applications of monoclonal antibodies include cancer, rheumatoid arthritis, multiple sclerosis, and cardiovascular diseases.

The COVID-19 outbreak has been creating a significant burden on healthcare systems. Researchers across the world are continuously making efforts to cope with this rising burden. Thus, the demand for monoclonal antibodies targeting COVID-19 is likely to reach new heights. For instance, in July 2020, an anti-CD6 IgG1 monoclonal antibody named Itolizumab (ALZUMAb), produced by Biocon Ltd (India), was approved by the Drug Controller General of India (DCGI) for the emergency treatment of cytokine release syndrome in acute respiratory distress syndrome patients also infected with COVID-19.

Additionally, the growing FDA approvals and new product launches for various indications are expected to drive the segment. For instance, in December 2020, the US Food and Drug Administration (FDA) approved MacroGenics’ MARGENZATM for the treatment of patients with pretreated metastatic HER2-positive breast cancer. In August 2020, the FDA approved GlaxoSmithKline’s belantamab mafodotin-blmf (BLENREP) for the treatment of relapsed or refractory multiple myeloma.

Thus, owing to the aforementioned factors, the monoclonal antibodies segment is anticipated to witness significant growth over the forecast period.

North America Expected to Dominate the Market

The growing burden of chronic diseases and increasing investments in research and development activities in the United States are the major factors driving the biopharmaceuticals market in North America. The United States has been recognized as the innovation capital of the world for life sciences. It is involved in global capital investments in the early stages of biopharmaceutical companies.

The surge in the number of COVID-19-related clinical trials is expected to boost the North American biopharmaceuticals market. According to the Pharmaceutical Research and Manufacturers of America, as of January 2021, nearly 1,750 clinical trials were in progress for the development of vaccines and drugs for the treatment of COVID-19, among which 420 clinical trials were based in the United States.

According to Globocan, in 2020, the estimated number of cancer cases in the United States was 2,281,658. There were also 612,390 deaths registered. The high incidence of cancer drives the demand for effective therapeutics and thus, drives the studied market.

In March 2020, Thermo Fisher Scientific Inc. invested nearly USD 475 million to expand its biologics, cell and gene therapy, and drug product development facilities and increase its global commercial capabilities. Similarly, in January 2020, Eli Lilly and Company entered an agreement to acquire Dermira, a biopharmaceutical company. This acquisition helped the expansion of the company’s biopharmaceutical portfolio with the addition of Dermira’s lebrikizumab, an IL-13 antibody that is intended for use in the treatment of moderate-to-severe atopic dermatitis.

Thus, given the aforementioned factors, the studied market is expected to grow significantly in North America over the forecast period.

Competitive Landscape

The biopharmaceuticals market is highly competitive and comprises several major players. However, with technological advancements and product innovations, mid-size and small companies are increasing their market presence. Companies like Amgen Inc., Eli Lily and Company, Johnson and Johnson, Sanofi SA, AstraZeneca PLC, and Pfizer Inc. hold significant shares in the biopharmaceuticals market and are involved in various strategic alliances such as acquisitions and collaborations to expand their product portfolios.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

ref:plp2022

Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on