Categories: Healthcare

Biobetters Market Key Drivers, Trends, Growth, Outlook 2024-2033

The biobetters global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Biobetters Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size – The biobetters market size has grown rapidly in recent years. It will grow from $60.73 billion in 2023 to $67.81 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to increased understanding of disease mechanisms, growing healthcare expenditure, enhanced manufacturing technologies, technological innovations in drug delivery, advancements in protein engineering, increased demand for improved therapeutic efficacy.

The biobetters market size is expected to see rapid growth in the next few years. It will grow to $105.94 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to advancements in biotechnology, growing emphasis on personalized medicine, expanding pipelines of biopharmaceutical companies, rising prevalence of chronic diseases, favorable regulatory landscapes, heightened investments in research and development, advance healthcare infrastructure. Major trends in the forecast period include development of novel biobetters , protein engineering and rational design, focus on therapeutic areas, advanced healthcare infrastructure, development of next-generation sequencing (NGS) technologies ,advances in high-throughput screening (HTS) technologies.

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Scope Of Biobetters MarketThe Business Research Company’s reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Biobetters Market Overview

Market Drivers -The rising incidence of chronic kidney diseases is expected to propel the growth of the biobetters market going forward. Chronic kidney disease (CKD) is defined as a long-term illness that causes the kidneys to malfunction and eventually stop functioning. The prevalence of chronic kidney disease (CKD) is increasing due to aging demographics, elevated incidences of diabetes and hypertension, poor dietary habits, sedentary lifestyles, environmental pollution, and enhanced diagnostic capabilities. Biobetters help in the management of chronic kidney disease (CKD) by offering enhanced efficacy, reduced side effects, better dosing regimens, and improved stability compared to original biologic treatments, leading to better patient outcomes. For instance, according to the Australian Institute of Health and Welfare (AIHW), an Australia-based government agency for public health, in 2021, approximately 20,000 fatalities in Australia were linked to chronic kidney disease, accounting for 12% of the total mortality rate in 2021. Therefore, the rising incidence of chronic kidney diseases is driving the growth of the biobetters market.

Market Trends – Major companies operating in the biobetters market are developing biobetters for subcutaneous administration to improve patient convenience, enhance therapeutic outcomes, and reduce healthcare costs. Subcutaneous administration of biobetters offers a more convenient alternative to intravenous infusion, potentially improving patient compliance and healthcare delivery efficiency. For instance, in May 2023, Celltrion, a South Korean-based biopharmaceutical company, obtained approval from the Brazilian Health Regulatory Agency for their Remsima SC biobetters. It is an innovative biobetter version of their infliximab biosimilar, Remsima. This product is the world’s only infliximab, offering subcutaneous administration. Remisma SC improves upon a biosimilar, enhancing its accessibility and effectiveness. It is specifically indicated for inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis. Remisma SC offers patients a more convenient and potentially more effective treatment option.

The biobetters market covered in this report is segmented –

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

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Regional Insights – North America was the largest region in the biobetters market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biobetters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies – Major companies operating in the biobetters market are 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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