Biopharmaceuticals are medicinal drugs which are produced through biotechnology methods such as recombinant DNA techniques, fermentation, hybridoma techniques, and purification processes. Biopharmaceutical production involves the usage of biological sources, either live organisms or their active components. They are made up of proteins and nucleic acids and target specific diseases and patients groups. Biopharmaceuticals are used in the treatment of various chronic diseases such as cardiovascular, metabolic, neurological, cancer, and other rare diseases for which there are no available treatments. Biopharmaceuticals have lead to enhancement in the quality of healthcare and has improved the quality of life of patients. Various biopharmaceuticals used for treating such diseases are monoclonal antibodies, erythropoietin, growth hormones, recombinant proteins, recombinant human insulin, purified proteins, interferon, vaccines and other biopharmaceuticals. However, high costs of biopharmaceuticals, entry of low-cost biosimilars, and risk of side-effects posed by biopharmaceuticals act as restraints for the biopharmaceuticals market.