Report : Middle East & Africa Biopharmaceuticals Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type (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) and Application (Oncology, Inflammatory & Infectious Disease, Autoimmune Disorders, Metabolic Disorders, Hormonal Disorders & Growth Failure, Cardiovascular Diseases, Neurological Diseases, and Others)
At 13.7% CAGR, the Middle East & Africa Biopharmaceuticals Market is speculated to be worth US$ 28.81 billion by 2028, says Business Market Insights
According to Business Market Insights research, the Middle East & Africa biopharmaceuticals market was valued at US$ 13.36 billion in 2022 and is expected to reach US$ 28.81 billion by 2028, registering a CAGR of 13.7% from 2022 to 2028. Contract manufacturing of biopharmaceuticals and accelerated clinical trials are the critical factors attributed to the Middle East & Africa biopharmaceuticals market expansion.
Contract manufacturing organizations (CMOs) bring many benefits to the table for pharmaceutical companies. Outsourcing tasks to CMOs help them reduce investments required for operating and maintaining manufacturing facilities, thereby aiding improvements in the net cash flow. Outsourcing is cheaper and increases the efficiency of manufacturing processes. Also, it allows biopharmaceuticals companies to redirect resources to other important areas. Many biopharmaceutical companies are refocusing on their core capabilities, such as research and development, leading to divestments of in-house manufacturing capacities, which subsequently results in an increase dependence on CMOs for manufacturing. CMOs provide additional capacities and offer additional sites for pharmaceutical companies to mitigate the risk of supply shortages through multisite supply strategies and backup capacities. For instance, in March 2022, BioNTech SE announced a collaboration with Regeneron for advancing the FixVac candidate BNT116 in combination with Libtayo (cemiplimab), a PD-1 inhibitor for treating advanced non-small cell lung cancer (NSCLC). The collaboration agreement allows the companies to jointly conduct clinical trials to evaluate the combination therapy in different patients suffering from advanced NSCLC. In November 2021, Abenza Limited, a biologics research partner, announced a collaboration with BiVictriX Therapeutics to manufacture the BiVictriX ADCs. Thus, the increasing popularity of biopharmaceuticals contract manufacturing is likely to catalyze the growth of the Middle East & Africa biopharmaceuticals market in the coming years.
On the contrary, high cost of manufacturing infrastructure hurdles the growth of Middle East & Africa biopharmaceuticals market.
Based on product type, the Middle East & Africa 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 50.8% share of Middle East & Africa biopharmaceuticals market in 2022, amassing US$ 6.79 billion. It is projected to garner US$ 15.06 billion by 2028 to expand at 14.2% 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 Middle East & Africa 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 31.9% share of Middle East & Africa biopharmaceuticals market in 2022, amassing US$ 4.27 billion. It is projected to garner US$ 8.96 billion by 2028 to expand at 13.2% CAGR during 2022–2028.
Based on country, the Middle East & Africa biopharmaceuticals market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 34.0% share of Middle East & Africa biopharmaceuticals market in 2022. It was assessed at US$ 4.54 billion in 2022 and is likely to hit US$ 9.61 billion by 2028, exhibiting a CAGR of 13.3% during the forecast period.
Key players profiles in the Middle East & Africa 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; and Thermo Fisher Scientific Inc, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com