Global Biopharmaceutical market is
segmented on the basis of type, therapeutic applications and geography.
Biopharmaceuticals come across as medicinal drugs produced by isolating the
medicinal products from biological sources such as from humans, plants, animals,
and microorganisms by making use of biotechnological techniques such as
recombinant DNA technology.
They could also be produced using
transgenic organisms, especially plants and animals that are genetically
engineered for producing drugs. These drugs help in preventing and treating
various diseases such as psoriatic arthritis, rheumatoid arthritis, anemia
arising from chemotherapy, psoriasis, and cardiovascular disease, diabetes and
cancer, and chronic renal failure. Since biopharmaceuticals are capable of
technically modulating any physiological pathway that has been completely
comprehended, their use is continuously increasing.
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This coupled with the ability of
biopharmaceuticals to treat diseases previously not treatable, has resulted in
a huge market demand, which, in turn, has increased the profit margins for
manufacturers. Factors such as cumbersome and complicated regulatory
requirements, high-end manufacturing requirements, and constantly increasing demand
for affordable biopharmaceuticals are hampering the market growth.
At present, the biopharmaceutical
market has great opportunities for both - existing players and novel market
entrants. The patents with regards to several biopharmaceuticals are getting
expired in the next five years and this is bound to create an opportunity for
biosimilars manufacturers. Similarly, no company has yet found a way to
effectively lessen the cost of biosimilars and there is a huge market
opportunity for any company that could solve this problem.
Despite several growth factors driving
the biopharmaceutical market, it faces severe challenges to be overcome for
tapping the full potential of the biopharmaceutical market. One such factor is
the need for cold storage for almost every biopharmaceutical. This limits their
reach in the developing as well as third world countries. In addition, the
process to develop a biopharmaceutical is also difficult, as it involves living
biological systems. North America holds the largest market share for
biopharmaceuticals. This could be attributed to technological advancements in
the region. By types, monoclonal antibodies are the fastest growing segment. By
therapeutic application, oncology is the largest segment in the
biopharmaceuticals market. Biopharmaceuticals have broad applications in the
pharmaceutical industry.
On the basis of type, the
biopharmaceutical market is segmented into erythropoietin, monoclonal
antibodies, granulocyte-colony stimulating factor (G-CSF), putrefied proteins,
recombinant proteins, recombinant human insulin, interferon, growth hormones,
and vaccines and so on. On the basis of therapeutic applications, the
biopharmaceutical market is segmented into metabolic disorders, oncology,
neurological disorders, cardiovascular diseases, inflammatory and infectious
deseases, autoimmune disorders, hormonal disorders, disease prevention and so
on.
On the basis of geography, the
biopharmaceuticals industry is segmented into Europe, Asia Pacific, North
America, Middle East & Africa and Latin America. The key players of
biopharmaceuticals market are F. Hoffmann-La Roche AG, Sanofi Aventis, Johnson
& Johnson Services Inc., Amgen Inc., Merck & Co. Inc., Biogen Idec,
Bayer AG, Eli Lilly and Company, Novartis AG, AbbVie Inc., Bristol-Myers Squibb
Company, GlaxoSmithKline Plc, Pfizer Inc., AstraZeneca PLC and Abbott
Laboratories.
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