$PBIO The global biopharmaceuticals market was valued at $237 billion in 2018 and is estimated to reach $389 billion in 2024 (https://www.mordorintelligence.com/industry-reports/global-biopharmaceuticals-market-industry). This rapid market growth is attributed to the growing acceptance for biopharmaceuticals based on their ability to treat previously untreatable diseases, resulting in huge market demand. Biopharmaceuticals offer several important benefits, such as highly effective and potent action, fewer side effects, and the potential to cure diseases rather than merely treat the symptoms.

Biopharmaceuticals include vaccines, growth and blood factors, hormones, monoclonal antibodies, and purified proteins. An example of a biopharmaceutical is interferon beta, a protein biologic used alone or in combination with other drugs against a broad spectrum of viral infections, including MERS-CoV (https://www.nature.com/articles/s41467-019-13940-6).

https://www.bloomberg.com/press-releases/2020...or-develop