The biopharmaceuticals market is driven by various factors, such as increase in elderly population, surge in prevalence of chronic diseases like cancer, HIV/AIDS and diabetes, and increase in adoption of biopharmaceuticals globally. Biopharmaceuticals have reduced the number of deaths due to cancer and HIV/AIDS in the past decade which has led to an increase in the adoption of biopharmaceuticals in the global market.
The market growth is attributed to the growing acceptance for biopharmaceuticals due to their ability to treat previously untreatable diseases, resulting in huge market demand for biopharmaceuticals.
Biopharmaceuticals now take up more than 25% of the pharmaceutical industry,the global market for biopharmaceuticals is also projected to witness the fastest CAGR of 10.8% between 2018 and 2025, In 2019 is expected to reach US$269.3 billion and is expected to reach $388.9 billion by 2024, according to Mordor Intelligence.
Biopharmaceuticals sectors:
- Culture Apparatus
- Shredding/Extraction Equipment
- Separation/Refinement
- Technologies
- Bio Plant Engineering
- Transportation Containers
- Supply Systems
- Control/Management Systems
- Contract Synthesis (Protein, Peptide, Antibody), etc.
Last year`s exhibitors from this sector: 6%
