Biopharmaceuticals Market - Growth, Trends, Covid-19 Impact, and Forecasts (2021

Posted by Statzy Market Research on April 27th, 2021

The ongoing pandemic of COVID-19 globally is expected to have a significant impact on the biopharmaceutical industry. Most of the biopharmaceutical companies are striving extensively for the development of the vaccine against the SARS-CoV2 virus. Some of the candidates are traditional-type vaccines such as inactivated and attenuated products, however, most of the vaccine candidates being developed are advanced DNA, RNA, and protein subunit vaccines. Thus, this factor is expected to boost the growth of the biopharmaceutical market over the pandemic. However, the clinical and regulatory procedures for drug candidates of other indications can witness a slow pace due to the shifting priorities of the healthcare system, to reduce the infections to clinical trial patients.

The market is largely driven by the growing geriatric population, increasing burden of chronic diseases, and rising inclination toward targeted therapy. According to the Globocan 2020 report, a total of 19,292,789 new cancer cases were diagnosed, with 9,958,133 deaths due to cancers worldwide. Additionally, as per the data from United Nations World Population Prospects 2019 report, by 2050, one in six people in the world will be over age 65, which is an increase from one in 11 in 2019 and by 2050, one in four persons living in Europe and Northern America could be aged 65 or over. The number of persons aged 80 years or over globally is projected to triple, from 143 million in 2019 to 426 million in 2050.

Also, the huge demand for biopharmaceutical is facilitated by an accelerating focus on research and related investment. The ability of biopharmaceutical products to address previously untreatable conditions has introduced innovative drugs in the market. Thus, given the aforementioned factors, the studied market is expected to bolster over the forecast period.

Also, the market demand for biopharmaceuticals is increasing with the rising desire to circumvent both the side-effects associated with some small-molecule therapeutics and invasive surgical treatments. However, stringent regulatory issues along with the requirement of high investment in the development of a biopharmaceutical drug, are the growth limiting factor for the studied market.

 Free Sample report for this report is available :- https://www.statzyreports.com/report/sr497877/biopharmaceuticals-market

Key Market Trends

Monoclonal Antibodies is Expected to Hold a High Market Share During the Forecast Period

The successful use of monoclonal antibodies and antibody derivatives in therapeutics is the major driver for the rapid growth of the studied segment. The therapeutic applications of monoclonal antibodies include in the areas of cancer, rheumatoid arthritis, multiple sclerosis, cardiovascular diseases, among others.

The recent COVID-19 outbreak is creating a huge burden on healthcare systems. Researchers across the world are continuously making efforts to cope with this rising burden. Thus, the demand for monoclonal antibodies targeting COVID-19 is likely to exceed. For instance, in July 2020, an anti-CD6 IgG1 monoclonal antibody named Itolizumab (ALZUMAb), from Biocon Ltd, India has been approved by the Drugs Controller General of India(DCGI) for the emergency treatment of cytokine release syndrome in acute respiratory distress syndrome patients, infected with COVID-19.

Additionally, the growing FDA approvals and new product launches for various indications are expected to drive the segment. For instance, in Oct 2019, Novartis received FDA approval for its Beovu (brolucizumab) injection, also known as RTH258 for the treatment of wet age-related macular degeneration (AMD). Also, in March 2019, US FDA approved Pfizer’s oncology biosimilar, TRAZIMERA, which is a monoclonal antibody biosimilar to the originator biologic medicine, Herceptin. Thus, owing to the aforementioned factors, the monoclonal antibody segment is anticipated to witness significant growth over the forecast period.

North America Dominates the Market and Expected to do the Same in the Forecast Period

The growing burden of chronic disease and increasing investment in research and development activities in the United States are the major factors attributing to the growth of the biopharmaceuticals market in North America. The United States has been recognized as the innovation capital of the world for life sciences, and it is involved in global capital investments in the early stages of biopharmaceutical companies.

During the present COVID-19 pandemic, almost all the biopharmaceutical companies in the region are striving for the development of effective therapeutics against COVID-19, and this is expected to boost the studied market over the pandemic in North America. According to the Pharmaceutical Research and Manufacturers of America, as of January 2021, nearly 1,750 clinical trials were in progress for the development of vaccines and drugs in the treatment of COVID-19, among which 420 clinical trials were based in the United States.

According to Globocan 2020, the estimated incidence of cancer cases in the United States accounted for 2,281,658, with 612,390 deaths in 2020. The high incidence of cancers surges the demand for effective therapeutics and thus, drives the studied market. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), in 2018, more than 4.7 million people work in the biopharmaceutical industry in the United States, across a broad spectrum of occupations, including scientific research, technical support, and manufacturing.

Additionally, in March 2020, Thermo Fisher Scientific, Inc, invested nearly USD 475 million as a biopharma investment in the expansion of biologics, cell and gene therapy, and drug product development and in increasing its commercial capabilities globally. Similarly, in Jan 2020, Eli Lilly and Company entered into an agreement to acquire Dermira, a biopharmaceutical company. This acquisition aids in the expansion of the company's biopharmaceutical portfolio with the addition of Dermira's lebrikizumab, an IL-13 antibody that is intended for use in the treatment of moderate-to-severe atopic dermatitis. Thus, given the aforementioned factors, the studied market is expected to propel significantly over the forecast period in North America

Competitive Landscape

The biopharmaceuticals market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by new product launches. Companies, like Amgen Inc., Eli Lily and Company, Johnson and Johnson, Sanofi S.A., AstraZeneca plc and Pfizer Inc. hold a significant share in the biopharmaceuticals market and are involved in various strategic alliance such as acquisitions and collaborations to expand the product portfolio. For instance, in Aug 2020, Sanofi S.A. entered into a definitive agreement to acquire Principia Biopharma Inc., a late-stage biopharmaceutical company that is involved in the development of treatments for immune-mediated diseases.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format

• 3 months of analyst support

For sample report please visit : https://www.statzyreports.com/report/sr497877/biopharmaceuticals-market
Contact Us:
Poojan Dogra
Public Relations Manager
Email : sales@statzyreports.com
Email : info@statzyreports.com
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com