Biopharmaceuticals are pharmaceutical products which are produced through biotechnology methods involving recombinant DNA techniques, hybridoma techniques, and purification processes. Biopharmaceutical production consists of the use of biological sources, either live organisms or their active components. They are made up of proteins and nucleic acids and target specific diseases and patients groups. Biopharmaceuticals are used in the treatment of various chronic diseases such as cardiovascular, metabolic, neurological, cancer, and other rare diseases for which there are no available treatments.
The Middle East & Africa Biopharmaceuticals Market Segments Size & Growth:
The Middle East & Africa Biopharmaceuticals market size is projected to reach approximately $23.80 billion by the end of 2024 with a CAGR of close to 9.16 % from $15.90 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include High-profit margins, Huge market demand, Ability of Biopharmaceuticals to treat previously untreatable diseases, Increasing acceptance for Biopharmaceuticals and so on. However, High-end manufacturing requirements, Increasing demand for affordable Biopharmaceuticals and Complicated and Cumbersome regulatory requirements thereby hampering the market growth.
The Middle East & Africa Biopharmaceuticals Market Segments Share:
The Middle East & Africa Biopharmaceuticals Market is categorised into
a type which comprises of Monoclonal antibodies, Recombinant growth factors, Purified proteins, Recombinant proteins, Recombinant hormones and so on. Among the Type, a Monoclonal antibodies market segment dominated the Biopharmaceuticals market in 2018 with about 32% share. By Therapeutic Applications, Biopharmaceuticals market is segregated into Neurological diseases, Cardiovascular diseases, Hormonal disorders and so on. Among the Therapeutic Applications, Oncology segment is projected to continue its dominant during the period 2018-2024. By Geography, Africa is expected to dominate the Biopharmaceuticals market and the growth in the Africa economies is mainly attributed because of huge profit margins and growth prospects, biopharmaceuticals have garnered the attention of several large drug development companies.
The Middle East & Africa Biopharmaceuticals Market Trends:
- Biopharmaceuticals currently represent a large segment of product pipelines of most of the major pharmaceutical companies.
- Monoclonal antibodies currently own the most significant market share regarding value in the global biopharmaceuticals market. Some of the top-selling monoclonal antibodies include Adalimumab, Infliximab, Rituximab, and Bevacizumab.
- Amgen is introducing an innovative new value-based pharmacy benefits insurance provision for U.S. staff members. The coverage ensures that any U.S. staff member who is prescribed a clinically appropriate biologic medicine
will pay the same out-of-pocket cost as a staff member who has the same condition but does not require a biologic. The benefit was designed to eliminate concerns about cost-related barriers to essential biopharmaceuticals, which play an increasingly prominent role in the treatment of patients with acute illness.
The Middle East & Africa Biopharmaceuticals Market Research Report:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
- Identifying DROC in the current market and their impact in altering the market dynamics.
- Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- The primary market players, such as
- Merck & Co., Inc.
- Hoffmann-La Roche AG
- Eli Lilly and Company, Inc
- Sanofi
- Amgen Inc
