Industry Experts - Market Research

Biopharmaceuticals Global Demand is Expected to Witness Robust Growth at 9.2% to Reach about $700 billion by 2030

Monday Feb 03, 2025

A new report from Industry Experts, Inc. on "Biopharmaceuticals Market," is released. According to this global market research report, 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.

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.

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. Furthermore, the surge in cancer and autoimmune disorders is boosting demand for these products.

The market for biopharmaceuticals analyzed in this report on a global basis covering all major regions including North America (The United States, Canada, and Mexico), Europe (Germany, France, the United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World.

The study analyzes the global market for biopharmaceuticals with respect to Product – Monoclonal Antibodies (moAb), Biotech Vaccines, Recombinant Human (RH) Insulin, Erythropoietin, Granulocyte Colony-Stimulating Factor (G-CSF), Interferons, Human Growth Hormones (HGH) and Other Biopharmaceuticals (including Blood Factors, Thrombolytic Agents, Interleukins, Tumor Necrosis Factor, and Therapeutic Enzymes); and Application – Oncology, Autoimmune Disorders, Diabetes, Inflammatory and Infectious Diseases, Neurological Diseases, Cardiovascular Diseases and Others (Including Metabolic Disorders, Blood Disorders and Others).

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