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, 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). Frequent launches and approvals of novel biopharmaceutical products are expected to drive the market growth in the near future. In 2017, Sanofi S.A. received the U.S. Food and Drug Administration’s approval for its Dupixent (dupilumab) injection indictaed for treating adults suffering from moderate to severe eczema (atopic dermatitis). In 2017, F. Hoffmann-La Roche AG received the FDA approval for Hemlibra (emicizumab-kxwh), indicated to prevent and reduce bleeding incidents among children and adults with haemophilia A 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 the 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 Rabishield, a rabies monoclonal antibody, developed in partnership with the University of Massachusetts Medical School. In 2017, Mundipharma GmbH’s Truxima (rituximab), a biosimilar monoclonal antibody indicated for the treatment of cancer, was launched in the UK, Germany, Italy, the Netherlands, Belgium, Republic of Ireland, and Luxembourg following authorization by the European Medicines Agency (EMA). Therefore, the increasing number of approvals and launches of novel biopharmaceutical and biomedicine technologies is expected to create a conducive environment for growth of the global biopharmaceutical and biomedicine market.
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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), by Application (Therapeutics, Diagnostics, and Research and Development), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2025
Strategic collaborations between key players and research institutes in the market for development of biopharmaceutical and biomedicine technologies is expected to positively affect the market growth. For instance, in February 2018, AbbVie Inc. and Voyager Therapeutics, Inc. entered 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. to develop engineered cell therapies for cancer treatment. 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.
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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 between key players.
- 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 research. For instance, in 2015, the National Institutes of Health (NIH) funded US$ 54 million to support emerging challenges in biomedical research. The NIH has funded the launch of four broad scientific programs, namely 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 and register a CAGR of 15.3% over the forecast period due to increasing research and development activities in China. For instance, in 2016, researchers from the Sichuan University in Chengdu inserted re-engineered cells into a lung cancer patient who was 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.
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