Global Biopharmaceutical Market 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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Major driving factors of the global biopharmaceuticals market are technological advancements, improved proficiency over conventional drugs, and occurrence of autoimmune diseases and cancers. Though, entry of low priced biosimilars and risk of adverse effects may hinder the market growth. Moreover, increasing R&D, rising government initiatives for developing effective products, and popularity of herbal medicines worldwide provide opportunities in the forecast years.

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Type, therapeutic application, and geography are the major segments of the global biopharmaceutical market. Type segment includes monoclonal antibodies, recombinant proteins, granulocyte colony-stimulating factor (G-CSF), interferon, erythropoietin, recombinant human insulin, vaccines, growth hormones, purified proteins, and others. Recombinant proteins are expected to dominate with largest market share throughout the forecast period 2016 - 2024. 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. North America accounted the largest market share in 2016, driven by growing number of R&D, product launch, and outsourcing the manufacturing process. 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, increasing investments in R&D, and increasing partnerships with major companies for contract manufacturing.

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Key companies operating in the global biopharmaceuticals market are Roche Holding AG, Abbott Laboratories, Bayer AG, Biocon Ltd, Ranbaxy Laboratories Ltd., Genentech, Inc., Eli Lilly and Company, Pfizer Inc., Novartis AG, and Johnson & Johnson, Inc, among others.

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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