Global Biopharmaceutical Market to Grow at 8% During 2016-2021 With Manufacturers Turning to Untapped Regions

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In order to expand and diversify their operations outside their core markets, biopharmaceutical giants are trying to penetrate emerging markets by collaborating with local pharmaceutical companies or setting up their manufacturing facilities in these regions.

IMARC’s latest report Global Biopharmaceutical Market Report & Forecast (2016-2021)” provides an in-depth analysis of the global biopharmaceutical market along with a comprehensive study of market trends, geographical structure, therapeutic structure, competitive structure and market outlook. Biopharmaceuticals are large, complex molecules extracted from biological sources such as yeast, E. coli and mammalian cell cultures. Currently, the applications of biopharmaceuticals are increasing as they have high efficiency, limited generic threat, are target oriented and can be used to treat ailments such as cancers and autoimmune diseases. Biopharmaceuticals also have a higher approval rate compared to small molecule drugs and have a very strong tendency to achieve blockbuster status. According to the report, the global biopharmaceutical market was valued at nearly US$ 160 Billion in 2015, growing at a CAGR of 9% during 2008-2015.  The market is expected to grow a CAGR of nearly 8% during 2016-2021 as a result of the rising prevalence of chronic diseases such as diabetes, autoimmune diseases, cancers etc., an ageing global population and a significant number of monoclonal antibodies in the pipeline.

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The report has segmented the market on the basis of key regions. As a result of scientific advancements and research facilities, the biopharmaceutical market is largely concentrated in the United States and Western Europe with the United States representing the world’s largest biopharmaceutical market. However, the growth rates in these markets are expected to decline as both the government and private insurance providers are likely to apply cost containment measures. Consequently, biopharmaceutical giants are focussing on emerging markets such as China, Brazil, India, Russia, Turkey, South Korea and Mexico in order to expand their business. The huge population of these regions along with rising incomes, expanding health insurance coverage and increasing demand for top-shelf medical treatments is expected to drive the global biopharmaceutical market in these regions.

The report has further segmented this market on the basis of various biopharmaceutical classes. Recombinant proteins currently represent the biggest segment of the biopharmaceutical market accounting for the majority of the global sales. Recombinant proteins were followed by monoclonal antibodies and purified proteins. Monoclonal antibodies, on the other hand, are expected to be the fastest growing class. The report has further analysed the competitive landscape of this market. Some of the key players included in the report are – Roche, Amgen, Novo Nordisk, AbbVie, Sanofi, Johnson & Johnson, etc.

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