Kenneth Research has recently added a report titled Bio Pharma Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2030. The Bio Pharma Market is further anticipated to grow with a CAGR of 15.7% during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Bio Pharma Market Products.
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The global spending on IIoT platforms for manufacturing is predicted to reach a value of about USD 11 billion in 2024, up from USD 1.5 billion in 2018, by growing at a CAGR of about 40% in 7 years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Netscribes’ latest market research report titled Bio Pharma Market in India 2017 states that while historically the biopharmaceuticals market in the country grew at a CAGR of 15.7%, it is expected to grow at a CAGR of 13.6% between 2016 and 2022. With a large portion of the population falling in the senior citizen category, the need for various healthcare services and pharmaceutical products, including biopharmaceuticals is expected to rise in the country. Moreover, with increased life expectancy, this segment of the population is expected to grow further in the coming years. The increased disposable income of Indians is also allowing them to spend more on medicines and follow medication more diligently. Also, growing health awareness among individuals is resulting in early detection of various medical conditions, and leading to individuals being subject to various medications much earlier than before.
However, the lack of regulatory clarity acts as a major challenge for the industry. The regulation of biopharmaceuticals is inefficient and complex due to the involvement of multiple agencies and committees in the review and approval process. Competition from other Asian countries also acts as a challenge for the Indian bio pharma market. Despite the competition from other countries, India’s biotechnology sector has attracted major investments from several global companies due to its strong generic biotechnology potential. While Indian Immunologicals Ltd. set up vaccine manufacturing facilities in Pondicherry and Hyderabad by investing INR 3 bn and INR 2.5 bn respectively, Shantha Biotechnics Pvt. Ltd. built an insulin product manufacturing facility entailing an investment of INR 4.6 bn. The country is being recognized globally as a preferred outsourcing destination for contract research and manufacturing services. This will further aid in the development of the country’s bio pharma sector. Biocon Ltd., Dr. Reddy’s Laboratories Ltd, Serum Institute of India Pvt. Ltd., Lupin Ltd. and Intas Pharmaceuticals Ltd. are some of the major companies operating in this market.
Overview of the bio pharma market in India, and historical and forecasted market size data over 2010 to 2022
Trade analysis of bio pharma products in India
Qualitative analysis of the major drivers and challenges affecting the market
Analysis of the competitive landscape and profiles of major players operating in the market
Key recent developments in the Indian bio pharma sector
Get a broad understanding of the bio pharma sector in India, the dynamics of the market and the current state of the sector
Strategize marketing, market-entry, market expansion and other business plans by understanding the factors driving the growth of the market
Be informed regarding the key developments in the Indian bio pharma sector
Understand major competitors’ business and market dynamics, and respond accordingly
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Bio Pharma Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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