Authored By: Sarah
11 Jul 2024

 Bio-pharma Market Size to grow by USD 204.09 billion between 2024-2028

According to a research report “ Bio-pharma Market” by Product (Monoclonal antibodies, Recombinant growth factors, Vaccines, Recombinant hormones, Others) Application (Oncology, Autoimmune disorder, Metabolic disorder, Hormonal disorder, Others) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 204.09 billion, at a CAGR of  7.98% during the forecast period. The global health landscape is witnessing a significant rise in the prevalence of various health disorders, particularly in the areas of oncology, metabolism, hormonal, and autoimmune diseases. According to the World Health Organization, cancer accounted for approximately 10 million deaths worldwide in 2020, representing nearly one in six global deaths. Furthermore, as per the National Stem Cell Foundation, nearly 4% of the global population was affected by over 80 different autoimmune diseases in 2023. Notable autoimmune conditions include type 1 diabetes, multiple sclerosis, rheumatoid arthritis, lupus, Crohn's disease, psoriasis, and scleroderma. These diseases are attributed to genetic defects, weakened immune systems, excessive weight, obesity, and inactivity.

Browse market data tables, figures, and in-depth TOC on “Bio-pharma Market” by Product (Monoclonal antibodies, Recombinant growth factors, Vaccines, Recombinant hormones, Others) Application (Oncology, Autoimmune disorder, Metabolic disorder, Hormonal disorder, Others) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Product, the Monoclonal antibodies segment is projected to dominate the market size in 2024

The oncology segment in the bio-pharma market is experiencing significant growth due to the increasing prevalence of cancer cases and an aging population. According to the Centers for Disease Control and Prevention (CDC), approximately 1.9 million new cancer cases were reported in the US in 2021. This trend is expected to continue, driven by demographic shifts and advancements in technology. In key markets such as the US and Germany, reimbursement policies for interventional oncology procedures are becoming more favorable, further fueling growth. Technological innovations, including minimally invasive, image-guided surgeries, are increasing the adoption of oncology procedures, as these techniques offer greater precision and reduced recovery times.

By Application, Oncology  segment is expected to hold the largest market size for the year 2024

Monoclonal antibodies represent a significant segment in the bio-pharma market, despite having lower sales volumes compared to other pharmaceutical products. The high price point of these life-saving drugs results in substantial revenues for vendors. Monoclonal antibodies account for a considerable market share due to their high-value proposition. The market is projected to grow during the forecast period, with numerous companies focusing on expanding their bio-pharmaceutical portfolios. These organizations are investing heavily in research and development (R&D) of biologic drugs, and monoclonal antibodies hold the largest share in this category. The high-priced nature of monoclonal antibodies ensures their continued importance in the global bio-pharma industry.

North America is forecasted to hold the largest market size by region in 2024

The US represents a significant market share in the North American bio-pharma industry, driven by substantial investments in treating patients with disorders such as oncology, autoimmune, hormonal, and metabolic conditions. According to the American Autoimmune Related Diseases Association (AARDA), over 50 million Americans are affected by autoimmune diseases annually, making it a leading cause of chronic illness and the second-leading cause of death for women under 65. Despite this, autoimmune diseases remain relatively under-researched compared to heart disease and cancer, presenting a significant opportunity for innovation and growth within the bio-pharma sector.

The Bio-pharma Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AbbVie Inc.
  • Amgen Inc.
  • Angelini S.p.a.
  • AspenBio
  • Astellas Pharma Inc.
  • AstraZeneca Plc
  • Bayer AG
  • Biogen Inc.
  • Bristol Myers Squibb Co.
  • Eli Lilly and Co.
  • F. Hoffmann La Roche Ltd.
  • Ipsen Pharma
  • Johnson and Johnson
  • Merck KGaA
  • Novartis AG
  • Novo Nordisk AS
  • Pfizer Inc.
  • Sanofi SA
  • Takeda Pharmaceutical Co. Ltd.
  • Vertex Pharmaceuticals Inc.
.

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Research Analysis Overview

The Bio-pharma market is a rapidly growing sector in the healthcare industry, focusing on the development of biologics, biotechnological processes, and pharmaceutical drugs. This market encompasses various therapeutic areas, including molecular pathways of diseases such as rheumatoid arthritis, psoriasis, diabetes, and cancer. Bio-pharma companies explore genetic mutations to identify biomarkers and target specific receptors and biological targets. Small molecule drugs and biologics, including monoclonal antibodies, recombinant enzymes, hormones, proteins, growth factors, and vaccines, are developed using mammalian cells, yeast, and bacteria as living organisms. Personalized medicine is a significant trend in the bio-pharma market, with the focus on creating treatments tailored to individual patients based on their genetic makeup and disease conditions. Synthetic immunomodulators, gene therapies, and recombinant proteins are some of the innovative treatments under development. The global Bio-pharmaceuticals Market is expected to grow significantly due to the increasing demand for advanced therapeutic options and the ongoing research and development in this field.

Market Research Overview

The Bio-pharma market encompasses a broad range of products and technologies, including clinical and preclinical trials, clinical facilities, purified proteins, gene editing techniques, next-generation sequencing, genomics, computational modeling, combinatorial chemistry, high-throughput screening, and more. These tools and techniques are used to develop treatments for various diseases, such as metabolic disorders, autoimmune conditions, respiratory diseases, cardiovascular disorders, and cancer. In the realm of Bio-pharma, gene therapies and recombinant proteins, such as monoclonal antibodies, play a significant role. Pharmacogenomics and molecular pathways help identify genetic mutations and biomarkers, leading to the development of personalized medicines. Biotechnological processes involve the use of living organisms, such as mammalian cells, yeast, and bacteria, to produce pharmaceutical drugs and biologics, including recombinant enzymes, vaccines, recombinant hormones, and purified proteins. The Bio-pharma market includes various therapeutic areas, such as orphan drugs for rare diseases, personalized medicines, and biotechnology in Alzheimer's, dementia, chronic diseases, neurological diseases, cardiovascular diseases, hormonal disorders, metabolic disorders, autoimmune disorders, oncology, and synthetic immunomodulators. The market continues to evolve, with ongoing research in gene therapies, small molecule drugs, and biological targets.

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Technavio Research
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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