Biopharmaceutical Market to reach USD 17,902.42 Billion by 2032, and grow at a CAGR of 49.60%.

The market for biopharmaceuticals is experiencing strong growth due to factors such as the rising prevalence of chronic diseases and the increasing demand for biopharmaceuticals, which can treat diseases that were previously considered untreatable. According to a report by the World Health Organization in September 2022, approximately 55 million people were living with dementia worldwide, with nearly 10 million new cases reported each year. The report also highlighted that Alzheimer\'s disease is the most common form of dementia, accounting for 60–70 percent of cases. The majority of individuals who develop Alzheimer\'s dementia are 65 years of age and older. The high incidence of disease and the growing demand for improved treatment are expected to drive the expansion of the biopharmaceutical market in the coming years.