Biopharmaceuticals Market - Databook 2025 to 2034

The global biopharmaceuticals market size was estimated at USD 442.88 billion in 2024 and is projected to be worth around USD 975.20 billion by 2034, growing at a CAGR of 8.3% from 2025 to 2034.

Highlights of the Biopharmaceuticals Market

• North America dominated the global biopharmaceuticals market in 2024.
• Asia Pacific is anticipated to grow at the fastest rate in the market during the forecast period.
• By type, the monoclonal antibodies segment holds a dominant presence in the biopharmaceuticals market in 2024.
• By type, the vaccines segment is expected to grow at the fastest rate in the market during the forecast period.
• By application, the oncology segment holds a dominant presence in the biopharmaceuticals market in 2024.
• By application, the cardiovascular disease segment is expected to grow at the fastest rate in the market during the forecast period.

Industry Valuation and Growth Rate Projection

Biopharmaceuticals are a set of structurally modified medicines extracted or partially synthesized from biological sources using advanced biotechnological methods. They can be proteins, sugars, nucleic acids, living cells, or tissues utilized for therapeutic or in vivo diagnostic purposes and are manufactured by means other than direct extraction from a native or non-engineered biological source. Increased investments in the healthcare sector and the growing use of medications and other therapeutics are leading to growth in this space. This, coupled with a spike in numerous medical conditions due to various environmental factors such as a growing number of pollutants, such as microplastics, declining food nutritional quality, and a growing geriatric population, are leading to increasing demand in the healthcare sector for diagnosis and treatment. These reasons are the reasons, there is significant growth in the biopharmaceuticals market.

Biopharmaceuticals Market: Stats and Figures

• In October 2024, Asahi Kasei Medical started the Planova FG1, a virus removal filter featuring higher flux for the producer of biotherapeutics.

Industry Leader Announcements

• Albert Bourla, Pfizer Chairman and Chief Executive Officer

“We thank all shareholders for their participation today and for their ongoing support. 2024 was a year of focus and execution in which we delivered on our financial commitments, strengthened the company, and importantly, made a positive impact for patients. I’m confident that the underlying foundation of our company is strong and that we are well-positioned to create sustained, long-term value for shareholders,” stated Albert Bourla, Pfizer Chairman and Chief Executive Officer.

How AI Has Benefitted the Biopharmaceuticals Market

Artificial intelligence is determining drug research, imbuing traditional procedures with predictive capabilities and unprecedented efficiency. The use of AI speeds up both drug development and clinical trials, allowing for more advanced selection of potential trial patients. The creation of digital twins allows researchers to predict the potential side effects of various therapeutics without the involvement of live subjects. Through the usage of complex algorithms, artificial intelligence sifts through large datasets, determining biomarkers and potential drug candidates much swifter than by manual means. This remarkably shortens drug discovery timelines, expediting progression to preclinical trials.

AI delivers as a pivotal force in facilitating drug discovery processes by diminishing inefficiencies and urging the advancement of pipelines. Its capacity to analyze huge datasets transforms the conventional methodology, reshaping the outlook of pharmacological innovation. Advanced algorithms forecast molecular behavior, sequencing, expediting compound selection, and synthesis, and all work towards boosting the probability of clinical success and provide several benefits to the biopharmaceuticals market.

Geographical Insights

The biopharmaceuticals market is experiencing significant growth, with North America maintaining its position as the dominant region while Europe emerges as the rapidly growing market. The Asia Pacific region is projected to be the fastest-growing in the market during the forecast period.

North America

North America dominated the global biopharmaceuticals market in 2024. This dominance is attributed to numerous factors, including the robust existence of major industry players, early acceptance of advanced treatments, and a remarkable portion of global healthcare spending. The continent is also home to several of the big pharma players, which invest heavily in both development of new drugs and advanced research to make existing drugs more potent and effective.

Asia Pacific

Asia Pacific is projected to be the fastest-growing region in the biopharmaceuticals market during the forecast period. Increasing healthcare access, raised disposable incomes, a rising prevalence of chronic disorders, expanding biopharmaceutical producing capabilities, and investments in research and development (R&D) are boosting the growth.

Europe

Europe is experiencing rapid growth in the biopharmaceuticals market during the forecast period. Europe faces an older population, contributing to increased need for treatments for age-associated diseases and chronic conditions, which biopharmaceuticals can address. Rapid developments in biotechnology, including synthetic biology, gene editing, and personalized medicine, are boosting innovation in the biopharmaceutical domain.

Recent Developments

• In April 2025, Emcutix Biopharmaceuticals Ltd. and Emcure Pharmaceuticals Ltd. signed a collaboration agreement with Italian derma-cosmetic firm WiQo to import and sell ‘PRX-PLUS’, a good used for skin tightening.

Competitive Landscape

The biopharmaceuticals market is categorized by a high level of competition, with a mix of large, well-known pharmaceutical companies, biotechnology firms, and emerging players. This landscape is boosted by factors such as persistent innovation, regulatory hurdles, high R&D spending, and the requirement for novel biologics, personalized medicines, and biosimilars.

• Company Name: Biogen, Inc.
• Year of Incorporation: 1978
• Headquarters: Cambridge, Massachusetts, United States

Biogen Inc. (Biogen) is a biopharmaceutical firm that discovers and develops drugs and biosimilars for the treatment of numerous neurodegenerative and neurological diseases. It has numerous product candidates targeting numerous indications like Parkinson's disease, MS, Lupus, Depression, Amyotrophic Lateral Sclerosis, CNS and neuromuscular disorders, and Alzheimer’s disease.

• Company Name: Eli Lilly and Company
• Year of Incorporation: 1901
• Headquarters: Indianapolis, Indiana, United States

Eli Lilly and Co (Lilly) is a pharmaceutical firm that discovers, develops, producers, and markets human healthcare products. Its major products aim in therapeutic areas such as immunology, cardiometabolic health, and neuroscience.

• Company Name: Pfizer, Inc.
• Year of Incorporation: 1942
• Headquarters: New York, New York, United States

Pfizer stands at the head of the global healthcare industry with its innovative goods and latest research. As a major player in the market, Pfizer faces fierce competition from other pharmaceutical firms, constantly attempting to maintain its competitive edge. With a rich history of cutting-edge discoveries and a commitment to delivering high-quality healthcare solutions, Pfizer steers in a dynamic and demanding landscape with strategic agility and unwavering determination.