The biopharmaceutical market, one of the fastest growing segments in the life sciences industry, is valued at approximately USD 325.17 billion in 2020(1). The segment is expected to continue its upward trajectory at a compound aggregate growth rate of 7.32% from 2021 to 2026, reaching anticipated revenues of USD 496.71 billion in 2026. The rapid expansion of this market has occurred for good reasons: biopharmaceuticals such as cell and gene therapies hold great promise to be more effective, better-targeted treatments for difficult-to-treat diseases across a wide variety of medical conditions, including cancer and cardiovascular, neurodegenerative, ocular, and immunologic diseases.
