Global Biobetters Market Report 2024, Forecast To 2033
11 Jul, 2024
The biobetters market has similarly seen rapid expansion, starting at $60.73 billion in 2023 and expected to reach $67.81 billion in 2024 with a CAGR of 11.7%. This growth in the historic period can be attributed to increased understanding of disease mechanisms, rising healthcare expenditure, enhanced manufacturing technologies, advancements in drug delivery, protein engineering innovations, and heightened demand for improved therapeutic efficacy. Looking forward, the market is forecasted to grow to $105.94 billion by 2028, maintaining a CAGR of 11.8%. The anticipated trends include advancements in biotechnology, a focus on personalized medicine, expanding pipelines of biopharmaceutical companies, rising chronic disease prevalence, favorable regulatory environments, increased research and development investments, and advancements in healthcare infrastructure.
Major Driver In The Biobetters Market
The increasing prevalence of autoimmune diseases drives growth in the biobetters market. Autoimmune disorders result from the immune system attacking healthy cells, influenced by genetics, environment, and lifestyle changes. Biobetters improve treatment efficacy, reduce side effects, and enhance dosing precision, offering better management options for these conditions. For example, rheumatoid arthritis accounted for 2.0% of disease burdens in 2023 in Australia, underscoring its impact. Hence, rising autoimmune disease prevalence propels the biobetters market, expected to grow steadily from 2023 to 2028.
Request A Free Sample Of The Global Biobetters Market ReportGlobal Biobetters Market Segmentation
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
By Geography:The regions covered in the biobetters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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 Biobetters Global Market Report 2024 furnishes information about the global biobetters market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
Biobetters Market Competitive Landscape
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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Biobetters Market Overview
Biobetters are biologic drugs similar to existing biologics but enhanced to offer improved efficacy, safety, or other clinical benefits, such as reduced side effects or more convenient administration methods.
Biobetters Global Market Report 2023 provides data on the global biobetters market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biobetters market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.