Seattle, WA -- (SBWire) -- 02/12/2020 --Biopharmaceuticals are substances that are produced using living organisms, such as microorganisms and animal cells, and have a high-therapeutic value. These large and complex molecular drugs are also known as biologics and biotech drugs.
The global biopharmaceuticals market is driven by various factors, such as increase in elderly population, surge in prevalence of chronic diseases such as cancer and diabetes, and increase in adoption of biopharmaceuticals globally. Furthermore, rise in strategic collaborations among biopharmaceuticals companies is also anticipated to supplement the growth of the biopharmaceuticals industry.
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Emerging economies, such as India and China, are anticipated to provide lucrative growth opportunities to the key players involved for business expansion in the global biopharmaceuticals market during the forecast period.
The global biopharmaceuticals market is segmented based on type, application, and region. On the basis of type, the market is divided into monoclonal antibody, interferon, insulin, growth and coagulation factor, erythropoietin, vaccine, hormone, and others. By application, it is categorized into oncology, blood disorder, metabolic disease, infectious disease, cardiovascular disease, neurological disease, immunology, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America Middle East and Africa (LAMEA).
Rise in focus of vendors on the emerging markets, such as Asia-Pacific and LAMEA, is expected to boost the market growth. The Asia-Pacific region is projected to witness significant growth in future, owing to increase in R&D investment, rise in adoption and availability of biopharmaceuticals for disease treatment and surge in disease diagnosis awareness. Furthermore, this region presents remarkable opportunities for venture capitalists and investors, because the developed markets are comparatively saturated.
The report provides an extensive competitive analysis and profiles of the key market players, such as Abbott Laboratories, Amgen, Inc., Biogen, Inc., Eli Lilly and Company, F. Hoffmann-La Roche, Ltd., Johnson & Johnson, Merck & Co., Inc., Novo Nordisk A/S, Pfizer, Inc., and Sanofi. The other players in the value chain (not included in the report) include Bristol Myers Squibb Company, Bayer AG, and Shire plc.
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- The study provides an in-depth analysis of the global biopharmaceuticals market along with the current trends and future estimations to elucidate the imminent investment pockets of the global biopharmaceuticals industry.
- The report presents a quantitative analysis of the biopharmaceuticals market from 2017 to 2027 to enable stakeholders to capitalize on the prevailing market opportunities.
- An extensive analysis of the biopharmaceuticals market based on type and application assists in understanding the trends in the global biopharmaceuticals industry.
- The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the biopharmaceuticals industry.
The Demand for the Bio-Pharma Will Drastically Increase in the Future
The monoclonal antibody segment dominated the global biopharmaceuticals market in 2017, owing to the wide adoption of these drugs to treat chronic diseases, such as cancer.