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Biobetters Market Segments, Analysis, Trends, Opportunities And Strategies 2024-2033
Biobetters Market Segments
According to The Business Research Company's, 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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Market Drivers and Trends:
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.
Impact Of Autoimmune Diseases On The Biobetters Market
The increasing prevalence of autoimmune diseases is expected to propel the growth of the biobetters market going forward. Autoimmune diseases are disorders that occur when an organism's immune system unintentionally attacks healthy cells. Autoimmune diseases are increasing due to various factors, including genetic predisposition, environmental influences, and lifestyle changes. Biobetters help in autoimmune disorders by providing enhanced efficacy, reduced side effects, improved dosing regimens, and increased stability compared to original biologic treatments, leading to more effective and tolerable management of these conditions. For instance, in December 2023, according to the Australian Institute of Health and Welfare (AIHW), an Australia-based government agency for public health, rheumatoid arthritis comprised 2.0% of the total disease burden in 2023. In 2021, it led to 1,145 deaths, equivalent to 3.2 deaths per 100,000 people, accounting for 0.7% of all fatalities. Therefore, the increasing prevalence of auto-immune diseases is driving the growth of the biobetters market.
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.
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Major Key Players of the Market:
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
Biobetters Market 2024 Key Insights:
• 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%.
• Impact Of Chronic Kidney Disease On The Biobetters Market
• Advancing Biobetters Through Subcutaneous Innovation
• North America was the largest region in the biobetters market in 2023
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