At 13.3% CAGR, the Europe Biopharmaceuticals Market is projected to be worth US$ 227.22 billion by 2028, says Business Market Insights

According to Business Market Insights research, the Europe biopharmaceuticals market was valued at US$ 107.57 billion in 2022 and is expected to reach US$ 227.22 billion by 2028, registering a CAGR of 13.3% from 2022 to 2028. Accelerated clinical trials and contract manufacturing of biopharmaceuticals are the critical factors attributed to the Europe biopharmaceuticals market expansion.               

Accelerated progress of clinical trials will ultimately result in the development and commercialization of new drugs targeting rare as well as common inherited diseases. Blastic plasmacytoid dendritic cell neoplasm (BPDCN) is an aggressive, acute leukemia that has been historically difficult to diagnose. In December 2018, Tagraxofusp became the first therapy approved for treating BPDCN, which then became the standard care method for treating these patients. During clinical trials, more than 90% of the patients who never received any treatment responded to therapy. Amyotrophic lateral sclerosis (ALS) is a progressive neurodegenerative disease that weakens muscles, impacts physical function, and causes irreversible brain and spinal cord damage. To date, only 2 products are approved for slowing the functional decline associated with ALS. The accelerated clinical trials for developing new products targeting ALS are in progress. For example, antisense oligonucleotides (ASOs) have been showing promising results in clinical trials involving patients suffering from ALS. Further, different gene therapy approaches, targeting multiple mutations in patients for both sporadic ALS and familial ALS, are also in clinical trials. Thus, an extensive pipeline of biopharmaceuticals that are in clinical trials is expected to offer lucrative growth opportunities to the Europe biopharmaceuticals market in the coming years.  

On the contrary, high cost of manufacturing infrastructure hurdles the growth of Europe biopharmaceuticals market.

Based on product type, the Europe biopharmaceuticals market is segmented into monoclonal antibodies, recombinant vaccines, conventional vaccines, recombinant growth factors, purified proteins, recombinant proteins, recombinant hormones, recombinant enzymes, cell & gene therapies, cytokines/interferon/interleukins, and others. The monoclonal antibodies segment held 44.2% share of Europe biopharmaceuticals market in 2022, amassing US$ 47.50 billion. It is projected to garner US$ 104.67 billion by 2028 to expand at 14.1% CAGR during 2022–2028. The recombinant vaccines segment is further segmented into cancer vaccine, malaria vaccine, ebola vaccine, hepatitis-b vaccine, tetanus vaccine, diphtheria vaccine, cholera vaccine, and others. The conventional vaccines segment is further segmented into polio vaccine, pox vaccine, and others. The recombinant growth Factors segment is further segmented into erythropoietin and granulocyte colony stimulating factor. The purified proteins segment is further segmented into leukemia inhibitory factor (LIF), P53 protein, P38 protein, and others. The recombinant proteins segment is further segmented into serum albumin, amyloid protein, defensin, and transferrin. The recombinant hormones segment is further segmented into recombinant human growth hormones, recombinant insulin, and other recombinant hormones. The recombinant enzymes segment is further segmented into enterokinase, cyclase, caspase, and cathepsin. The cell & gene therapies segment is further segmented into allogenic products, autologous products, and acellular products.

Based on application, the Europe biopharmaceuticals market is segmented into oncology, inflammatory & infectious disease, autoimmune disorders, metabolic disorders, hormonal disorders & growth failure, cardiovascular diseases, neurological diseases, and others. The oncology segment held 31.3% share of Europe biopharmaceuticals market in 2022, amassing US$ 33.72 billion. It is projected to garner US$ 69.73 billion by 2028 to expand at 12.9% CAGR during 2022–2028.  

Based on country, the Europe biopharmaceuticals market is segmented into the U.K., Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 29.5% share of Europe biopharmaceuticals market in 2022. It was assessed at US$ 31.68 billion in 2022 and is likely to hit US$ 65.42 billion by 2028, exhibiting a CAGR of 12.8% during the forecast period.   

Key players profiles in the Europe biopharmaceuticals market report AbbVie Inc; AGC Biologics AS, Amgen Inc, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Co, Eli Lilly and Co, Johnson & Johnson, Lonza Group AG, Thermo Fisher Scientific Inc, and WuXi Biologics Inc, among others.

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