Biopharmaceutical and Biomedicine Market Stellar CAGR 9.4% Effectively Boosting Growth of the Sector from 2021 To 2028

Rising product launches and approvals by regulatory authorities is expected to boost the global biopharmaceutical and biomedicine market growth

SEATTLE, WASHINGTON, UNITED STATES, November 16, 2021 /EINPresswire.com/ — Rising product launches and approvals by regulatory authorities is expected to boost the global biopharmaceutical and biomedicine market growth over the forecast period. For instance, in 2017, anofi 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 the U.S. FDA approval for Hemlibra (emicizumab-kxwh), indicated to prevent and reduce bleeding incidents among children and adults suffering from hemophilia 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 U.K., Germany, Italy, the Netherlands, Belgium, Republic of Ireland, and Luxembourg, following authorization by the European Medicines Agency (EMA). Such product approvals and launches are expected to create a lucrative environment growth of the market in the near future.

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Adoption of inorganic growth strategies such as partnerships and collaborations is expected to propel the global biopharmaceutical and biomedicine market growth over the forecast period. 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

The global biopharmaceutical and biomedicine market is expected to witness growth, registering a CAGR of 9.4% during the forecast period (2017-2025). This is owing to increasing development of innovative technologies and strategic collaborations among key companies.

Among regions, North America is expected to hold dominant position in the global biopharmaceutical and biomedicine market during the forecast period. This is owing to the large presence of key market players such as Eli, Lily, and Company, Pfizer Inc., and Amgen Inc. combined with increasing funding by various organizations. For instance, in 2015, National Institutes of Health (NIH) announced funding of 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.

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Asia Pacific is expected to register highest growth rate of 15.3% over the forecast period, owing to increasing research and development in China in the biopharmaceutical sector. 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.

Key companies involved in the global biopharmaceutical and biomedicine market are 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.

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Source: EIN Presswire