Biopharmaceutical products are pharmaceuticals derived from life forms, requiring a patent for exclusive manufacturing rights. These items are manufactured in a cleanroom ecosystem with set standards regarding airborne particles. These drugs can be nucleic acids, including deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and antisense oligonucleotides, and proteins, including antibodies. They are generally used for in vivo diagnostic and therapeutic purposes.
Biopharmaceuticals have proven effective in treating diseases such as neurological disorders, cancer, and infectious diseases. These products are useful in the management of several neurodegenerative disorders as these ailments require direct administration of a drug into the brain, which is not achievable with traditional medications. Moreover, the ongoing technological developments have been able to enhance the survival rate of patients suffering from life-threatening diseases like hepatitis and cancer. The World Health Organization (WHO) estimates that cancer accounts for around 9.6 million deaths each year, globally. Thus, the surging incidence of chronic disorders will augment the biopharmaceuticals market revenue.
Owing to the widening applications, biopharmaceuticals companies like Novartis AG, Abbott Laboratories, Amgen Inc., AstraZeneca PLC, Pfizer Inc., Biogen Inc., Eli Lilly, AbbVie Inc., Sanofi, and Bristol-Myers Squibb Company are heavily investing in research and development (R&D) activities to produce technologically advanced products. These companies are developing and formulating new drugs to meet the burgeoning demand for remedial options for multiple diseases. They are strongly focused on the production and commercialization of effective products that can treat chronic diseases, including cancer.
Biopharmaceuticals available around the world include colony-stimulating factors, monoclonal antibodies (mAb), interferons, recombinant proteins, purified proteins, recombinant human insulin, erythropoietin (EPO), vaccines, and growth hormones. Among these, mAbs and recombinant human insulin are the most widely consumed biopharmaceuticals worldwide. These products treat cardiovascular diseases (CVDs), metabolic disorders, cancer, inflammatory and infectious diseases, and neurological disorders. With the growing prevalence of unhealthy lifestyles and improper eating habits, the cases of these diseases will amplify in the coming years, thereby fueling the demand for various biopharmaceutical products.
According to P&S Intelligence, North America is the largest biopharmaceuticals market due to the existence of a large population of aging people and the high prevalence of chronic diseases in the region. Moreover, the continuous technological developments and extensive investments in R&D in the two North American countries will amplify the administration of biopharmaceuticals in the coming years. Biotechnology companies in this region are developing new products that display improved efficiency while acting against specific target areas for several oncological, cardiovascular, and neurological indications.
Therefore, with the increasing prevalence of cancer and CVDs, the requirement for biopharmaceuticals will rise in the foreseeable future. Additionally, the development of innovative and effective products and a soaring number of patent approvals for such pharmaceuticals will promote their administration, globally.