Biopharmaceuticals have structural similarity to human body elements which not only make them a safer alternative to conventional medicines but also allow better treatment of chronic conditions. This is the reason why the demand for biopharmaceutical products has grown significantly in the past few years. Biopharmaceuticals products have shown great potential in dealing with several chronic conditions such as cancer, diabetes, rheumatoid arthritis, psoriasis, and many others.

Increasing count of geriatric population across the world owed to improved medical science and rising prevalence of chronic conditions among them has been primarily driving the Global Biopharmaceuticals Market trends. In addition, increasing the trend of sedentary lifestyle among adults has been also boosting the prevalence of chronic diseases such as cancer and diabetes, further fostering the adoption of biopharmaceuticals globally. Furthermore, the ongoing strategic collaborations between major players with a visionary focus on producing effective drugs have been stimulating the biopharmaceuticals market outlook.

However, high costs associated with research and drug development, along with the apparent threat of failure has been one of the major restraints of the biopharmaceuticals industry. But the persistent technological advancements in biologics should subdue the negative effects imposed by the constraints. On the other hand, emerging economies such as India and China are projected to evolve into major revenue pockets for the global biopharmaceuticals market in the upcoming years.

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The monoclonal antibody was one of the dominant segments of the global biopharmaceuticals market in 2017. The growth has been owed to shifting preferences for these drugs to treat chronic diseases, such as cancer. As per the World Health Organization (WHO), cancer is the second leading cause of death across the world and was responsible for an estimated 9.6 million mortalities in 2018. And shockingly, the 70 percent of the deaths associated with cancer occurred in low and middle-income countries, which again points to the growing markets in the Asia-Pacific. Furthermore, rising investments in R&D activities with respect to oncology drug development is likely to expand the biopharmaceuticals market size from the perspective of the monoclonal antibodies segment.

Considering the regional analysis, the Asia-Pacific biopharmaceuticals market is expected to clock the highest percentage growth during the forecast period as stated in the report. This can be attributed to the shifting focus of vendors on the emerging market, along with a surge in demand for biopharmaceuticals in the major countries including India and China. In addition, rising awareness of disease diagnosis, paired with improved healthcare facilities should also boost the adoption of biopharmaceuticals products in the region. Another viewpoint for the shifting focus toward the Asia-Pacific region is market saturation in developed countries, which should encourage high investments from venture capitalists and investors in the growing economies.

As per market reports, North America dominated the biopharmaceuticals market share in the previous fiscal and should continue the growth graph due to the presence of a well-established healthcare industry in the region. The local healthcare industry has been driven by the rising elderly population and growing incidence of chronic diseases such as rheumatoid, cancer, arthritis, prevailing in the region. Moreover, Favorable government policies to provide better healthcare to the public should further fuel North America's biopharmaceuticals market demand in the years to come.