Global Biopharmaceutical and Biomedicine Market, By Product Type (Biopharmaceutical, Nanomedicine, Gene Therapy, Bioinformatics, and Molecular Enzymes & Kits), By Application (Therapeutics, Diagnostics, and Research and Development) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 358.4 Bn in 2016 and is projected to exhibit a CAGR of 9.4% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Frequent launches and approvals of novel biopharmaceutical products is expected to drive the market growth in the near future.
In 2017, Sanofi S.A. received U.S. Food and Drug Administration (FDA) approval for Dupixent (dupilumab) injection to treat adults suffering from moderate to severe eczema (atopic dermatitis). In 2017, F. Hoffmann-La Roche AG received FDA approval for Hemlibra (emicizumab-kxwh), indicated to prevent and reduce bleeding incidents among children and adults suffering from haemophilia A with factor VIII inhibitors. In 2017, Novo Nordisk A/S received the U.S. FDA approval for REBINYN (Coagulation Factor IX (Recombinant), GlycoPEGylated) indicated for treatment and control of bleeding episodes, and perioperative management of bleeding among children and adults. In 2017, Novo Nordisk received U.S. FDA approval for Fiasp (Insulin aspart injection). Fiasp is a fast acting mealtime insulin, which is indicated to improve glycemic control among adults suffering from type 1 and type 2 diabetes. In 2017, Serum Institute of India launched its Rabishield, a rabies monoclonal antibody, developed in partnership with the University of Massachusetts Medical School. In 2017, Mundipharma GmbH launched its Truxima (rituximab), a biosimilar monoclonal antibody for the treatment of cancer, in the UK, Germany, Italy, the Netherlands, Belgium, Republic of Ireland, and Luxembourg, following authorization by the European Medicines Agency (EMA). The launches and approvals of such novel biopharmaceutical and biomedicine technologies is expected to create a conducive environment for growth of the global biopharmaceutical and biomedicine market.
Browse 45 Market Data Tables and 42 Figures spread through 285 Pages and in-depth TOC on Biopharmaceutical and Biomedicine Market By Product Type (Biopharmaceutical, Nano medicine, Gene Therapy, Bioinformatics, and Molecular Enzymes & Kits Market) and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2025
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Strategic collaboration of key players and research institutes in the market for the development of biopharmaceutical and biomedicine technologies is also expected to positively affect the market growth. For instance, in February 2018, AbbVie Inc. and Voyager Therapeutics, Inc. entered into a strategic partnership for the development and commercialization of gene therapies for Alzheimer’s disease and other neurodegenerative diseases. In February 2018, Kite Pharma, Inc., a Gilead Sciences, Inc. company, collaborated with Sangamo Therapeutics Inc. for developing engineered cell therapies to treat cancer. As per the agreement, Kite Pharma, Inc. will use Sangamo Therapeutics’ zinc finger nuclease (ZFN) gene-editing product type for developing next-generation ex vivo cell therapies for treatment of cancer. In 2017, The National Institutes of Health collaborated with 11 leading biopharmaceutical companies to boost the development of new cancer immunotherapy. The partners include AbbVie Inc., Amgen Inc., Boehringer Ingelheim Pharma GmbH & Co. KG, Bristol-Myers Squibb, Celgene Corporation, Genentech Inc., subsidiary of Roche Group, Gilead Sciences, Inc., GlaxoSmithKline Plc., Janssen Pharmaceutical Companies of Johnson & Johnson, Novartis A.G., and Pfizer, Inc. In 2017, AbCellera Biologics, Inc. collaborated with GlaxoSmithKline plc. for the discovery of monoclonal antibodies against an undisclosed membrane protein target.
Key Takeaways of the Biopharmaceutical and Biomedicine Market:
- The global biopharmaceutical and biomedicine market is expected to exhibit a CAGR of 9.4% over the forecast period (2017–2025), owing to increasing development of novel technologies and strategic collaboration of key players in the market for biopharmaceutical and biomedicine technologies
- North America was the dominant region in the global biopharmaceutical and biomedicine market and is expected to retain its dominance over the forecast period (2017–2025). This is due to presence of major key players and increasing funding by various organizations to support biopharmaceutical researches. For instance, in 2015, National Institutes of Health (NIH) funded US$ 54 million to support emerging challenges in biomedical research. NIH has funded to launch four broad scientific Program: the Glycoscience Program, the 4D Nucleome Program, the Gabriella Miller Kids First Research Program, and the Science of Behavior Change Program.
- Asia Pacific is expected to exhibit highest growth, with a CAGR of 15.3% over the forecast period, due to increasing research and development in China in biopharmaceutical and biomedicine. For instance, in 2016, Chinese scientists injected cells modified with the CRISPR-Cas9 gene-editing technology in human. This is the first time in world when researchers from the Sichuan University in Chengdu inserted re-engineered cells into a lung cancer patient participating in a clinical trial at the West China Hospital.
- Major players operating in the biopharmaceutical and biomedicine market include Amgen Inc., F. Hoffmann-La Roche AG, Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi S.A., Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol – Myers Squibb, NanoString Technologies, Inc., Qiagen N.V., Celgene Corporation, and Affimed N.V.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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