Biopharmaceuticals Market was worth $298.85 billion by 2023.
BioPharmaceuticals are drugs obtained from genetically modified sources through biotechnology methods such as hybridoma techniques, recombinant DNA techniques, and purification process.
(EMAILWIRE.COM, November 20, 2018 ) Biopharmaceuticals Market Overview
Biopharmaceuticals are drugs obtained from genetically modified sources through biotechnology methods such as hybridoma techniques, recombinant DNA techniques, and purification process. These drugs are used in the treatment of various diseases like cancer, metabolic, neurological, cardiovascular and other rare types of diseases. Biopharmaceuticals have enhanced the quality of life of patients and improved the quality of healthcare.
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Rising geriatric population which is prone to neurodegenerative and autoimmune disorders provide a strong business base for the manufacturers. There is a huge demand for biopharmaceuticals due to increasing incidence of chronic diseases whose treatment is made possible with the use of these drugs. Side effects associated with the over-consumption of drugs and high cost involved in manufacturing are few restraints for the market.
Biopharmaceuticals Market Forecast Report (2018-2023)
Biopharmaceuticals Market was worth $192.46 billion in 2018 and estimated to be growing at a CAGR of 9.2%, to reach $298.85 billion by 2023.
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Biopharmaceuticals Market Segmentation
The global biopharmaceuticals market is segmented on the basis of products into Monoclonal Antibodies (mAb), Erythropoietin, Biotech Vaccines, Recombinant Human (RH) Insulin, Granulocyte colony-stimulating factor (G-CSF), Interferon and Human growth hormones (HGH). Monoclonal antibodies segment holds the highest number of shares in the product sector. Based on therapeutics, the market is bifurcated into Neurology, Infectious Diseases, Diabetes, Oncology, Cardiovascular and other therapeutic areas. In terms of therapeutic application, oncology is the largest segment in the biopharmaceuticals market.
Based on geography the market is analyzed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is the largest market for biopharmaceuticals. Technological advancement in the region is propelling the dominance of the region. Asia-Pacific is forecasted to develop as the fastest growing region for biopharmaceuticals market in the forecast period. Increasing awareness regarding biologic drugs is driving the market in the region.
Major Players:
The major companies dominating this market for its products and services are
Erck & Co., Inc.,
F. Hoffmann-La Roche AG,
Eli Lilly and Company, Inc
Sanofi,
Amgen Inc.,
AbbVie Inc.,
Biogen Idec,
Bayer AG,
Johnson & Johnson Services,
Pfizer, Inc.,
Novartis AG
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Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
Biopharmaceuticals are drugs obtained from genetically modified sources through biotechnology methods such as hybridoma techniques, recombinant DNA techniques, and purification process. These drugs are used in the treatment of various diseases like cancer, metabolic, neurological, cardiovascular and other rare types of diseases. Biopharmaceuticals have enhanced the quality of life of patients and improved the quality of healthcare.
Request for Sample @ https://www.marketdataforecast.com/market-reports/bio-pharmaceuticals-market-633/request-sample
Rising geriatric population which is prone to neurodegenerative and autoimmune disorders provide a strong business base for the manufacturers. There is a huge demand for biopharmaceuticals due to increasing incidence of chronic diseases whose treatment is made possible with the use of these drugs. Side effects associated with the over-consumption of drugs and high cost involved in manufacturing are few restraints for the market.
Biopharmaceuticals Market Forecast Report (2018-2023)
Biopharmaceuticals Market was worth $192.46 billion in 2018 and estimated to be growing at a CAGR of 9.2%, to reach $298.85 billion by 2023.
Browse Report Brief and TOC @ https://www.marketdataforecast.com/market-reports/bio-pharmaceuticals-market-633/
Biopharmaceuticals Market Segmentation
The global biopharmaceuticals market is segmented on the basis of products into Monoclonal Antibodies (mAb), Erythropoietin, Biotech Vaccines, Recombinant Human (RH) Insulin, Granulocyte colony-stimulating factor (G-CSF), Interferon and Human growth hormones (HGH). Monoclonal antibodies segment holds the highest number of shares in the product sector. Based on therapeutics, the market is bifurcated into Neurology, Infectious Diseases, Diabetes, Oncology, Cardiovascular and other therapeutic areas. In terms of therapeutic application, oncology is the largest segment in the biopharmaceuticals market.
Based on geography the market is analyzed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is the largest market for biopharmaceuticals. Technological advancement in the region is propelling the dominance of the region. Asia-Pacific is forecasted to develop as the fastest growing region for biopharmaceuticals market in the forecast period. Increasing awareness regarding biologic drugs is driving the market in the region.
Major Players:
The major companies dominating this market for its products and services are
Erck & Co., Inc.,
F. Hoffmann-La Roche AG,
Eli Lilly and Company, Inc
Sanofi,
Amgen Inc.,
AbbVie Inc.,
Biogen Idec,
Bayer AG,
Johnson & Johnson Services,
Pfizer, Inc.,
Novartis AG
Buy now @ https://www.marketdataforecast.com/cart/buy-now/bio-pharmaceuticals-market-633/
Customize Report @ https://www.marketdataforecast.com/market-reports/bio-pharmaceuticals-market-633/customize-report
About Us
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
Contact Information:
Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results