DUBLIN, April 23, 2025 –The “Biopharmaceuticals – A Global Market Overview” report has been added to ResearchAndMarkets.com’s offering.
The global Biopharmaceuticals market is estimated at $412.1 billion in 2024 and is projected to grow to $698.7 billion by 2030, with a CAGR of 9.2% during the forecast period 2024-2030
This global report on Biopharmaceuticals analyzes the global and regional markets based on product, and application for the period 2021-2030 with projections from 2024 to 2030 in terms of value in US$. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.
Key products include monoclonal antibodies for cancer and autoimmune disorder treatments, erythropoietin (EPO) for anemia management, recombinant insulin for diabetes, G-CSF to enhance white blood cell production, interferons for viral infection treatment, and human growth hormones (HGH) for growth deficiencies. These therapies deliver solutions like gene and enzyme replacements. Biopharmaceuticals offer targeted, precise treatments, providing innovative solutions for complex medical needs, and continue to play a vital role in modern medicine.
The biopharmaceutical market is fueled by the rising incidence of chronic illnesses, such as cancer, diabetes, heart disease, and autoimmune conditions, which need prolonged treatment. Governments worldwide are enhancing awareness and implementing strategies to promote the use of biopharmaceuticals, particularly for chronic, rare, and genetic diseases.
There is an increasing demand for specialized therapies, such as monoclonal antibodies and gene treatments, along with a rise in regulatory approvals and a strong pipeline of products. Technological advancements like CRISPR gene editing and next-generation sequencing are also fueling innovation, allowing for more effective care. Furthermore, rising healthcare expenditure and investments in research and development, especially in developing nations, are driving market expansion. This increasing demand for innovative therapies is expected to continue driving the growth of the biopharmaceutical market during the forecast period.
Biopharmaceuticals Regional Market Analysis
North America dominates the global biopharmaceutical market, accounting for an estimated market share of 40.6% in 2024 due to technological advancements, increased investment in research and development, and greater awareness of disease diagnosis and treatment. The focus of the United States government on creating advanced medicines and approving new therapeutics further boosts the market. Additionally, this region benefits from robust reimbursement options, which facilitate the adoption of innovative therapies.
On the other hand, the Asia-Pacific region is expected to witness the fastest growth with a CAGR of 11.2% during the forecast period 2024-2030, driven by the rising prevalence of chronic diseases, increased healthcare spending, and government investments in healthcare infrastructure. The rising awareness of biological drugs, the leadership of contract manufacturing organizations, and the growing dominance of emerging countries like China and India in vaccine production and drug manufacturing are key factors driving the expansion of the market.
Biopharmaceuticals Market Analysis by Product
The biopharmaceuticals sector is segmented by product into monoclonal antibodies (moAb), biotech vaccines, recombinant human insulin, erythropoietin, G-CSF, interferons, human growth hormones, and others. The monoclonal antibodies segment represents the largest market, comprising 35.2% in 2024, and is also the fastest-growing segment, with an anticipated CAGR of 11% during the forecast period from 2024 to 2030. Their growth is propelled by their effectiveness in treatment and their use in managing chronic conditions such as cancer, rheumatoid arthritis, and multiple sclerosis. The increasing acceptance of monoclonal antibodies is driven by their ability to specifically target disease cells, reducing side effects, and their growing use in cancer treatments, especially in developed countries.
Furthermore, the surge in cancer and autoimmune disorders is boosting demand for these products. Biotech vaccines, the second-largest segment, are experiencing growth due to the increased demand for vaccinations resulting from new disease outbreaks like COVID-19 and seasonal influenza, along with ongoing vaccination initiatives. These elements, combined with a boost in pharmaceutical research and development and global healthcare expenditures, are anticipated to sustain growth in both the monoclonal antibodies and vaccine sectors throughout the forecast period.
Biopharmaceuticals Market Analysis by Application
The biopharmaceuticals market is segmented by application into oncology, autoimmune disorders, diabetes, inflammatory and infectious diseases, neurological diseases, cardiovascular diseases (CVD), and others. Among these, the oncology segment leads the market with a share of 36.9% in 2024 and is projected to record the fastest CAGR of 10.6% from 2024 to 2030. This growth is driven by the increasing incidence of cancer, heightened awareness, and the growing demand for biopharmaceutical treatments for cancers such as lung, breast, and colorectal.
The rapid advancements in cancer research and the approval of new treatments, including targeted therapies and immunotherapies, contribute significantly to the expansion of this segment. Biopharmaceutical companies are investing in cancer research, concentrating on innovative therapies like antibody-drug conjugates and cell therapies. Furthermore, the cardiovascular disease segment is also anticipated to experience significant growth due to the increasing prevalence of heart disease, especially among older adults, and the ongoing development of biologic treatments such as monoclonal antibodies and gene therapies.