Biopharmaceuticals Market Size [2023-2030] | Industry Share, Revenue, Key Players, CAGR, Demand and Forecast
Companies Profiled in the Biopharmaceuticals Market are Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., Pfizer Inc., AbbVie Inc., Merck & Co., AstraZeneca, Bristol-Myers Squibb Company, and Novo Nordisk A/S, GSK plc.
Pune, India, April 04, 2023 (GLOBE NEWSWIRE) — The rapid utilization of single-use disposables to prevent contamination in the healthcare environment is driving the global single-use technology for biopharmaceuticals market. Rising need for upstream and downstream purification during manufacturing is a factor promoting the global single-use technology for biopharmaceuticals market. The demand for biopharmaceuticals is increasing as a result of their effectiveness and capacity to cure diseases with few side effects. Additionally, the increase in chronic disease prevalence brought on by an ageing population is driving up the market price of biopharmaceutical medicines.
Key Industry Developments:
- Bristol-Myers Squibb Company received U.S. FDA approval for CAR T Cell Therapy Breyanzi for the treatment of patients with large B-cell lymphoma, including diffuse large B-cell lymphoma.
- AbbVie Inc. received U.S. FDA approval for RINVOQ (upadacitinib) for the treatment of moderate to severe atopic dermatitis.
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|Forecast Period||2023 to 2030|
|Historical Data for||2019 to 2021|
- According to a United Nations report, there were 702.9 million older people in the globe in 2019; by 2050, that number is projected to increase to 1,548.9 million, a growth of 120%.
- As the first and only company to specifically interleukin-23 to treat adults with moderate to severe Crohn’s disease, AbbVie Inc. obtained U.S. approval.
- The U.S. FDA gave AstraZeneca permission to market Lynparza as a therapy for breast cancer with an early-stage BRCA mutation.
- Pfizer Inc. and BioNTech SE. worked together to provide the American government with COVID-19 immunisations modified for Omicron.
Launch of New Single-Use Technologies by Milliporesigma Will Encourage Growth
Milliporesigman, a global life science company announced three new products designed to make single-use bioprocessing safer, easier, and more efficient. The launch of Pellicon capsule, Millipak final fill filter and Mobius Power MIX 2500-liter and 3000-liter are likely to aid the global single-use technology for biopharmaceuticals growth owing to the bioprocessing innovation in the new superior single-use technologies. The award won by the Milliporesigman for best technological innovation at INTERPHEX 2018 will have also have a progressive impact on the market. Furthermore, the launch of Single-Use Chromatography System is also expected to contribute to the global single-use technology for biopharmaceuticals revenue. For instance, Pall Corporation. launched Allegro Single-Use Chromatography System that can be used in a flow range of 10 to 900 L/h.
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New Product Launches Will Boost Growth in North America
Geographically, the global single-use technology for biopharmaceuticals market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The single-use technology for biopharmaceuticals market in North America and Europe is predicted to grow at a faster pace during the forecast period owing to the frequent new pharmaceutical product launches. The increasing trend of strategic planning, as well as research collaborations in pharmaceutical industries, is also predicted to aid growth in the above regions. Additionally, the stringent regulatory guidelines for bioprocessing is anticipated to increase the adoption of single-use technologies in Europe and North America. Asia Pacific is expected to grow at a considerable rate owing to the presence of various upcoming pharmaceutical production plants and rapid acceptance of the use of single-use disposables.
Rapid Adoption of Single-Use Disposables Will Propel Growth
The merger and acquisitions between key companies to launch products is expected to enable growth to the global single-use technology for biopharmaceuticals market. For instance, In June 2017, Repligen Corporation announced its merger with Spectrum Inc. to expand its product offerings in single-use bioprocessing technology. The increasing reliability and improved flexibility of single-use disposables is enabling the development of new therapies and research process, which in turn is boosting up the single-use technology for biopharmaceuticals shares. Rising adoption towards single-use technology by biopharmaceutical companies as well as in the healthcare environment as it prevents contamination is a factor driving the global single-use technology for biopharmaceuticals market.
Furthermore, growing need for upstream and downstream purification during manufacturing along with the expansion in several pharmaceutical companies are expected to elevate single-use technology for biopharmaceuticals growth. Additionally, the increasing production to meet the rising healthcare demands is also predicted to contribute positively to the single-use technology for biopharmaceuticals market during the forecast period. Moreover, cost-effective production and higher yields with the use of single-use technology by pharmaceutical companies is also predicted to fuel demand for single-use technology for biopharmaceuticals. Nonetheless, strict government regulations in regards to single-use technology in emerging nations is likely to hamper the growth of the global single-use technology for biopharmaceuticals market during the forecast period.
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Some of the major companies that are present in the global single-use technology for biopharmaceuticals market are
- General Electric Company
- Aber Instruments Ltd
- Kühner AG
- Robert Bosch Packaging Technology GmbH
- Hamilton Medical
- Merck KgaA
- Terumo Corporation
- GEMÜ Gruppe
- Infors AG
What is the current biopharmaceutical market?
By 2050, there will be 1,548.9 million older people in the globe, up from the current figure of 702.9 million.
- Monoclonal antibodies
- Recombinant Vaccines / Conjugate / Subunit
- Live Attenuated
- Human Growth Hormones
- Thyroid Stimulating Hormone
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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