Biopharmaceuticals Market Size, Share, and Trends 2024 to 2034
Biopharmaceuticals Market outlook
The Biopharmaceuticals Market is projected to grow at a CAGR of 7.80% during the forecast period from 2024 to 2031
. Biopharmaceuticals, also referred to as biologics or biotech drugs, are large and complex molecular drugs primarily derived from proteins and nucleic acids of living organisms such as microorganisms and animal cells, often known as transgenic organisms. These drugs, produced through biotechnology, possess high therapeutic value and are typically administered via intravenous, subcutaneous, or intramuscular injections. Biopharmaceuticals are more efficient than conventional small molecule drugs, offering significant advancements in treatment efficacy.
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The Biopharmaceuticals Market Dynamics
The growth of the global biopharmaceuticals market is propelled by several factors, including an increase in the elderly population, a rise in the prevalence of chronic diseases such as cancer and diabetes, and an uptick in obesity and sedentary lifestyles. The growing acceptance of biopharmaceuticals, due to their ability to treat previously untreatable diseases, further fuels market expansion. The efficacy and safety of biopharmaceutical products, along with their capability to address conditions that were once considered untreatable, enable pharmaceutical companies to command high prices for these innovative drugs, driving significant market demand and growth
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Sematations
By Type :Monoclonal Antibody, Recombinant Growth Factors, Purified Proteins, Recombinant Proteins, Recombinant Hormones, Synthetic Immunomodulators, Vaccines, Recombinant Enzymes
By Application :Oncology, Autoimmune Disorders, Metabolic Disorders, Hormonal Disorders, Disease Prevention, Cardiovascular Diseases, Neurological Diseases
Key Players are
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Abbvie Inc.
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Amgen Inc.
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Bristol-Myers Squibb Company
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Eli Lilly and Company
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Johnson & Johnson
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Novartis AG
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Novo Nordisk AS
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Pfizer Inc.
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GlaxoSmithKline PLC
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F. Hoffmann-La Roche AG
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