The Insight Partners published latest research report on “Biopharmaceuticals Market Growth Report, Trends, Size, Share, Outlook Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type and Application,” the global size is expected to grow from USD 3,29,966.22 million in 2022 to USD 7,00,873.94 million by 2028; it is expected to grow at a CAGR of 13.4% from 2022 to 2028.
The Insight Partners published latest research report on “Biopharmaceuticals Market Growth Report, Trends, Size, Share, Outlook Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type and Application,” the global size is expected to grow from USD 3,29,966.22 million in 2022 to USD 7,00,873.94 million by 2028; it is expected to grow at a CAGR of 13.4% from 2022 to 2028.
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Global Biopharmaceuticals Market Growth Drivers:
- Increasing prevalence of chronic diseases: The rise in chronic diseases such as cancer, diabetes, and cardiovascular diseases has led to a greater demand for biopharmaceuticals as they offer effective treatment options.
- Technological advancements: The development of innovative technologies such as gene therapy, monoclonal antibodies, and recombinant DNA technology has opened up new avenues for drug development and has increased the demand for biopharmaceuticals.
- Aging population: With an aging population, there is a greater need for drugs that can treat age-related diseases such as Alzheimer’s and osteoporosis, which has increased the demand for biopharmaceuticals.
- Favorable regulatory environment: The regulatory environment has become more supportive of biopharmaceutical development, with streamlined approval processes and increased funding for research and development.
- Growing investment in research and development: Biopharmaceutical companies are investing heavily in research and development, leading to the discovery of new drugs and treatments that are driving market growth.
Global Biopharmaceuticals Market Analysis - Recent Developments:
• Advancements in gene therapy: Gene therapy is a rapidly evolving field in biopharmaceuticals, with promising new treatments being developed for a range of diseases, including rare genetic disorders and certain types of cancer.
• Increasing focus on personalized medicine: Personalized medicine, which involves tailoring treatments to individual patients based on their genetic makeup, is becoming more common in the biopharmaceuticals market. This approach has the potential to improve treatment outcomes and reduce side effects.
• Emergence of biosimilars: Biosimilars, which are similar to existing biologic drugs but manufactured by a different company, are becoming more prevalent in the biopharmaceuticals market. This is expected to increase competition and lower costs for patients.
• Shift towards digital health solutions: The biopharmaceuticals market is increasingly focused on developing and implementing digital health solutions, such as mobile apps and remote monitoring tools, to improve patient outcomes and streamline healthcare delivery.
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Global Biopharmaceuticals Market Growth Opportunity:
Accelerated Clinical Trials: Accelerated progress of clinical trials will ultimately result in the development and commercialization of new drugs targeting rare as well as common inherited diseases. Blastic plasmacytoid dendritic cell neoplasm (BPDCN) is an aggressive, acute leukemia that has been historically difficult to diagnose. Also, the disease is extremely rare—it impacts fewer than 1,000 patients in the US annually. In December 2018, Tagraxofusp became the first therapy approved for treating BPDCN, which then became the standard care method for treating these patients. During clinical trials, more than 90% of the patients who never received any treatment responded to therapy.
Amyotrophic lateral sclerosis (ALS) is a progressive neurodegenerative disease that weakens muscles, impacts physical function, and causes irreversible brain and spinal cord damage. To date, only 2 products are approved for slowing the functional decline associated with ALS. The accelerated clinical trials for developing new products targeting ALS are in progress. For example, antisense oligonucleotides (ASOs) have been showing promising results in clinical trials involving patients suffering from ALS. Further, different gene therapy approaches, targeting multiple mutations in patients for both sporadic ALS and familial ALS, are also in clinical trials.
Thus, an extensive pipeline of biopharmaceuticals that are in clinical trials is expected to offer lucrative growth opportunities to the biopharmaceuticals market in the coming years.
Global Biopharmaceuticals Market Share Report, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 3,29,966.22 Million in 2022 |
| Market Size Value by | USD 7,00,873.94 Million by 2028 |
| Growth rate | CAGR of 13.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 346 |
| No. of Tables | 273 |
| No. of Charts & Figures | 111 |
| Historical data available | Yes |
| Segments covered | Product Type, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Amgen, AbbVie, Eli Lilly and Co, Bristol-Myers Squibb Co, Johnson & Johnson, Thermo Fisher Scientific Inc., AGC Biologics AS, Lonza Group AG, WuXi Biologics, and Boehringer Ingelheim International GmbH |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
Browse key market insights spread across 346 pages with 273 list of tables & 111 list of figures from the report, “Biopharmaceuticals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Monoclonal Antibodies, Recombinant Vaccines, Conventional Vaccines, Recombinant Growth Factors, Purified Proteins, Recombinant Proteins, Recombinant Hormones, Recombinant Enzymes, Cell & Gene Therapies, Cytokines/Interferon/Interleukins, and Others) and Application (Oncology, Inflammatory & Infectious Disease, Autoimmune Disorders, Metabolic Disorders, Hormonal Disorders & Growth Failure, Cardiovascular Diseases, Neurological Diseases, and Others)” in detail along with the table of contents: https://www.theinsightpartners.com/reports/biopharmaceuticals-market
According to the National Institute of Health (NIH) report, 30 million Americans, accounting for 10% of the population, have one of the ~7,000 known rare diseases. Developing medicines for treating these rare diseases presents, both, scientific and operational challenges. Complex biology associated with rare diseases presents challenges for scientists to design and implement new drug development programs. However, despite these challenges, biopharmaceutical researchers in the Americas have developed new technologies for treating rare diseases and developing groundbreaking therapies. These advancements include the development of groundbreaking therapies such as hemophilia A, spinal muscular atrophy, juvenile idiopathic arthritis, inherited retinal diseases, and transthyretin amyloid cardiomyopathy by biopharmaceutical researchers. Moreover, in the last decade, 350 orphan drugs have been approved by USFDA, particularly for conditions lacking treatment or having limited treatment options.
Food and Drug Administration, Japan External Trade Organization, Saudi Food and Drug Authority (SFDA), and American Hospital Association (AHA) are the primary and secondary sources referred to while preparing the report on the biopharmaceuticals market.
Transthyretin amyloid cardiomyopathy (ATTR-CM) is a life-threatening, progressive cardiovascular rare disease characterized by the abnormal functioning of the heart, causing infiltrative cardiomyopathy. Once diagnosed, the median life expectancy is only ~2.5–3.5 years, if left untreated. In 2019, the FDA approved Tafamidis for reducing cardiovascular mortality and cardiovascular-related hospitalizations among adults suffering from ATTT-CM. Until 2019, there were no recent advancements in treatment modalities and medicines approved for treating ATTR-CM. A long-term study completed in 2021 reveals that patients continuously administering Tafamidis had a median survival of ~5.5 years.
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