The global biopharmaceuticals market size was exhibited at USD 333.09 billion in 2022 and is expected to hold around USD 856.1 billion by 2030, growing at a CAGR of 12.5% from 2022 to 2030..
The global biopharmaceuticals market size was exhibited at USD 333.09 billion in 2022 and is expected to hold around USD 856.1 billion by 2030, growing at a CAGR of 12.5% from 2022 to 2030..
Market Definition
Biopharmaceuticals, also known as biologic drugs or biologics, are medical products derived from biological sources such as living organisms, cells, or proteins..
Introduction.
Biopharmaceuticals are pharmaceutical products which are produced through biotechnology methods involving recombinant DNA techniques, hybridoma techniques, and purification processes.
Biopharmaceutical production involves the use of biological sources, either live organisms or their active components..
The global biopharmaceuticals market value was USD 915.6 million in 2022.
What is the growth rate of the global biopharmaceuticals market? The global biopharmaceuticals market is projected to grow at a CAGR of 12.40% during the forecast period of 2023-2030..
Biopharmaceutical Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 – 2030.
The Global Biopharmaceutical Market Size accounted for USD 328 Billion in 2021 and is estimated to garner a market size of USD 853 Billion by 2030 rising at a CAGR of 11.3% from 2022 to 2030..
Deferral of Elective Procedures Hampered Market Growth amid Coronavirus The outbreak of COVID-19 resulted in decline of elective surgeries and emergency room visits in the hospitals.
Procedures that were considered to be less serious or which were not life-threatening, such as dental procedures and orthopedic surgeries, witnessed a noteworthy decli.
Rising Prevalence of Chronic Diseases to Surge the Demand for Medical Devices There is a growing prevalence of chronic disorders, including cancer, diabetes, and other infectious diseases, owing to the adoption of sedentary lifestyles.
Healthcare agencies of various countries are focusing on growing the diagnosis and treatment rates through awarene.
Growing foothold of personalized medicine and an increasing number of orphan drug formulations are opening new avenues for biotechnology applications and are driving the influx of emerging and innovative biotechnology companies, further boosting the market revenue.
January 2023 – Abbott received USFDA approval for Proclaim XR Spinal Cord Stimulation (SCS) system to treat painful Diabetic Peripheral Neuropathy (DPN).
Medtronic, Johnson & Johnson Services, Inc., Abbott, and Stryker are the Major Players in the Market The global market is fragmented, with players such as Medtronic, Johnson & Johnson Services, Inc., Abbott, and Stryker, accounting for a major medical devices market share in 2022.
The top market players focus on strategies such as acquisitions, col.
Request a Free sampleto learn more about this report.
Growing Customer Preference for Wearable Devices to Propel Industry Expansion The growing emphasis on fitness among adults globally and the increasing focus of regional and national healthcare agencies toward monitoring and diagnosis have been pivotal in creating a higher demand for fitness trac.
To get more information on the regional analysis of this market, Request a Free sample The market size in North America stood at USD 196.17 billion in 2022.
The presence of adequate and favorable reimbursement policies, a well-developed healthcare infrastructure, rapid adoption of advanced medical technologies, and key players in the region are maj.
High Cost of Devices and Inadequate Reimbursement Policies in Emerging Countries to Restrict Market Growth The medical device industry has witnessed developments in the past decade in terms of new technologies being implemented and new design modifications prepared.
However, these devices' high cost, which includes a comparatively higher acquisitio.
By Type Analysis
What is the current market size and compound annual growth rate (CAGR) of the global biopharmaceutical and biomedicine market during the forecast period (2022-2030).
Global biopharmaceutical and biomedicine market size is estimated to be valued at US$ 561,375.9 million in 2022 and is expected to exhibit a CAGR of 9.6% between 2022 and 2030.
Some of the key players in the global biotechnology market include:
The biopharmaceuticals market is fragmented in nature due to the presence of several companies operating.
Chinese stock exchange focused on technology companies
