The demand for biopharmaceuticals is primarily driven by the increasing prevalence of chronic, infectious, and neurological diseases, coupled with the rising global geriatric population. Furthermore, the growing acceptance of biopharmaceuticals and personalized medicines, their efficacy in treating previously untreatable diseases, escalating investments in research and development capabilities, a heightened focus on enhancing healthcare facilities, bolstering overall healthcare infrastructure, a surge in product launches and approvals, and ongoing innovation in product development are among the key factors contributing to the overall growth of the biopharmaceuticals market from 2023 to 2028.
New York, USA, Jan. 02, 2024 (GLOBE NEWSWIRE) — Biopharmaceuticals Global Market is Expected to Surpass 700 Billion Mark by 2028, Assesses DelveInsight
The demand for biopharmaceuticals is primarily driven by the increasing prevalence of chronic, infectious, and neurological diseases, coupled with the rising global geriatric population. Furthermore, the growing acceptance of biopharmaceuticals and personalized medicines, their efficacy in treating previously untreatable diseases, escalating investments in research and development capabilities, a heightened focus on enhancing healthcare facilities, bolstering overall healthcare infrastructure, a surge in product launches and approvals, and ongoing innovation in product development are among the key factors contributing to the overall growth of the biopharmaceuticals market from 2023 to 2028.
DelveInsight’s Biopharmaceuticals Market Insights report provides the current and forecast market analysis, individual leading biopharmaceuticals companies’ market shares, challenges, biopharmaceuticals market drivers, barriers, trends, and key market biopharmaceuticals companies in the market.
Key Takeaways from the Biopharmaceuticals Market Report
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As per DelveInsight estimates, North America is anticipated to dominate the global biopharmaceuticals market during the forecast period.
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Notable biopharmaceuticals companies such as AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Johnson & Johnson, Novartis AG, Novo Nordisk AS, Pfizer Inc., GSK plc., F. Hoffmann-La Roche Ltd, Merck KGaA, Sanofi SA, AstraZeneca PLC, Bayer AG, Takeda Pharmaceutical Company Limited, UCB S.A., Boehringer Ingelheim International GmbH, DAIICHI SANKYO COMPANY, LIMITED, Biogen, Serum Institute of India, and several others, are currently operating in the biopharmaceuticals market.
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In July 2023, Transcenta Holding Limited received approval from the China Center for Drug Evaluation (CDE) to initiate a Phase II clinical trial of TST002(Blosozumab), a humanized anti-sclerostin monoclonal antibody.
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In October 2022, PT217, a bispecific anti-Delta-like ligand 3 (DLL3)/anti-Cluster of Differentiation 47 (CD47) antibody, was developed by Phanes Therapeutics, Inc.
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In September 2022, Bluebird Bio, Inc.’s SKYSONA (elivaldogene autotemcel) slows the progression of neurologic dysfunction in boys 4-17 years of age with early, active cerebral adrenoleukodystrophy (CALD), was approved by CBER.
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In March 2022, BioNTech SE reported the expansion of its strategic collaboration with Regeneron to advance the Company’s FixVac candidate BNT116 in combination with Libtayo (cemiplimab), a PD-1 inhibitor, in advanced non-small cell lung cancer (NSCLC). Under the terms of the agreement, the companies plan to jointly conduct clinical trials to evaluate their combination in different patient populations with advanced NSCLC.
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In January 2022, Amgen collaborated with Generate Biomedicines to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities.
To read more about the latest highlights related to the biopharmaceuticals market, get a snapshot of the key highlights entailed in the Global Biopharmaceuticals Market Report
Biopharmaceuticals Overview
Biopharmaceuticals, also known as biologics, represent a cutting-edge class of therapeutic agents derived from living organisms, harnessing the power of biological systems to treat a wide array of diseases. Unlike traditional pharmaceuticals, which are often chemically synthesized, biopharmaceuticals are produced using living cells, typically through genetic engineering techniques. This class includes a diverse range of products such as monoclonal antibodies, vaccines, gene therapies, and recombinant proteins. Biopharmaceuticals have revolutionized medical treatment by offering targeted and personalized approaches, often with fewer side effects than traditional drugs. Their impact is particularly notable in areas like oncology, rheumatology, and autoimmune…
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