Global Biopharmaceuticals Market size is expected to reach $405 Billion by 2024 from $200 Billion in 2016, growing at a CAGR of 9.3% from 2016 to 2024. By geography, Asia-Pacific and North America are expected to grow at a CAGR of 11.4% and 9.0%, respectively, during the forecast period.

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Improved proficiency over conventional drugs will drive the biopharmaceutical market
Global biopharmaceuticals market trends include improved proficiency over conventional drugs, technological advancements, and occurrence of autoimmune diseases and cancers. Though, entry of low priced biosimilars and risk of adverse effects may hinder the biopharmaceuticals growth. Moreover, rising government initiatives for developing effective products, increasing R&D, and popularity of herbal medicines worldwide provide opportunities in the forecast years.

Market Segmentations

Global biopharmaceuticals market analysis has been categorized into type, therapeutic application, and geography. Type segment comprises recombinant proteins, monoclonal antibodies, granulocyte colony-stimulating factor (G-CSF), erythropoietin, purified proteins, interferon, recombinant human insulin, vaccines, growth hormones, and others. Therapeutic application is further bifurcated into oncology, inflammatory infectious diseases, metabolic disorders, cardiovascular diseases, and others. North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major regions covered in the report.

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Recombinant proteins accounted the highest market share in 2016

Recombinant proteins are expected to dominate with largest market share throughout the forecast period 2016 - 2024.

North America dominated the market with highest market share in 2016

North America accounted the largest market share in 2016, driven by growing number of R&D, product launch, and outsourcing the manufacturing process. United States, Canada, and Mexico are covered under the North America. In terms of growth, Asia-Pacific is anticipated to grow at a fastest CAGR from 2016 to 2024. The growth is attributed to adoption of advanced technologies in China, increasing investments in R&D, and increasing partnerships with major companies for contract manufacturing. Moreover, Ireland, Switzerland, and Finland, among others are witnessing the significant growth rate.

Competitive Landscape

Key companies operating in the global biopharmaceuticals market are Abbott Laboratories, Roche Holding AG, Bayer AG, Biocon Ltd, Genentech, Inc., Ranbaxy Laboratories Ltd., Eli Lilly and Company, Pfizer Inc., Novartis AG, and Johnson & Johnson, Inc., among others.
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Scope of Biopharmaceuticals Market
Type Segments
• Monoclonal Antibodies
• Recombinant Proteins
• Granulocyte Colony-Stimulating Factor (G-CSF)
• Interferon
• Recombinant Human Insulin
• Erythropoietin
• Vaccines
• Growth Hormones
• Purified Proteins
• Other Types

Therapeutic Application segments
• Oncology
• Inflammatory Infectious Diseases
• Metabolic Disorders
• Cardiovascular Diseases
• Other Therapeutic Applications

Geography Segments
• North America
o U.S.
o Canada
o Mexico

• Europe
o Germany
o UK
o France
o Italy
o Others

• Asia-Pacific
o India
o Japan
o China
o Others

• RoW
o South America
o Middle East
o Africa

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