The Business Research Company's Biobetters Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
Forecast for Continued Growth: Key Drivers and Trends
Looking ahead, the biobetters market is expected to grow to $105.94 billion by 2028, at a CAGR of 11.8%. Key drivers of this growth include advancements in biotechnology, a growing emphasis on personalized medicine, expanding pipelines of biopharmaceutical companies, rising prevalence of chronic diseases, favorable regulatory landscapes, heightened investments in research and development, and advanced healthcare infrastructure. Major trends shaping the market include the development of novel biobetters, advancements in protein engineering and rational design, focus on therapeutic areas, the development of next-generation sequencing (NGS) technologies, and advances in high-throughput screening (HTS) technologies.
The Role of Autoimmune Diseases in Market Growth
The increasing prevalence of autoimmune diseases is a significant factor propelling the growth of the biobetters market. Autoimmune diseases arise when the immune system mistakenly attacks healthy cells, driven by genetic predisposition, environmental influences, and lifestyle changes. Biobetters offer enhanced efficacy, reduced side effects, improved dosing regimens, and increased stability compared to original biologics, leading to more effective management of these conditions. For example, rheumatoid arthritis comprised 2.0% of the total disease burden in Australia in 2023, highlighting the need for improved treatments like biobetters.
Major Players in the Biobetters Market
Key companies operating in the biobetters market include:
Pfizer Inc., Johnson & Johnson, Merck & Co Inc., AbbVie Inc., Bayer AG, Sanofi Aventis LLC, Bristol-Myers Squibb Company, Novartis AG, GlaxoSmithKline plc, F Hoffmann La Roche Ltd., Eli Lilly and Co Ltd., Gilead Sciences Inc., Amgen Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., CSL Behring GmbH, Biogen Inc., GRIFOLS USA LLC, Celltrion Inc., Lonza Group AG, Ionis Pharmaceuticals Inc., Incyte Corporation, Amicus Therapeutics Inc., Genentech Inc., Sun Pharmaceutical Industries
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Innovations in Biobetters: Focus on Subcutaneous Administration
Leading companies are developing biobetters for subcutaneous administration to enhance patient convenience, improve therapeutic outcomes, and reduce healthcare costs. For instance, Celltrion's Remsima SC, approved by the Brazilian Health Regulatory Agency in May 2023, offers subcutaneous administration of infliximab, making treatment more accessible and effective for patients with inflammatory bowel diseases such as Crohn's disease and ulcerative colitis.
Regional Insights: North America and Asia-Pacific
North America was the largest region in the biobetters market in 2023, driven by advanced healthcare infrastructure and high R&D investments. Asia-Pacific is expected to be the fastest-growing region during the forecast period, supported by expanding healthcare access and increasing prevalence of chronic diseases.
Market Segmentation
The biobetters market is segmented by drug class, route of administration, disease indication, and distribution channel:
1) By Drug Class: Erythropoietin Biobetters, Granulocyte-Colony Stimulating Factor (G-CSF) Bioreactors, Interferon Biobetters, Insulin Biobetters, Monoclonal Antibodies Biobetters, Antihemophilic Factors, Other Drug Classes
2) By Route of Administration: Oral, Subcutaneous, Inhaled, Intravenous, Other Routes
3) By Disease Indication: Diabetes, Cancer, Renal Disease, Neurodegenerative Diseases, Genetic Disorder-Hemophilia, Other Diseases
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
The biobetters market is poised for significant growth driven by advancements in biotechnology, an increasing prevalence of chronic and autoimmune diseases, and innovations in drug delivery methods. With major pharmaceutical companies investing in R&D and expanding their biobetters portfolios, the market is set to offer improved therapeutic options and better patient outcomes in the coming years.
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Biobetters Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Biobetters Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on biobetters market size, biobetters market drivers and trends, biobetters market major players, competitors' revenues, market positioning, and market growth across geographies. The biobetters market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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