Biobetters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global Biobetters Market has demonstrated robust growth from 2024 to 2031. This growth trajectory is set to continue, with an anticipated steady CAGR of 10% expected between 2024 and 2031. In 2024, the global Biobetters Market reached a size of US$ 60 billion, and it is projected to attain a valuation of US$ 115 billion by 2031.
Overview of the Biobetters Market
Biobetters, also known as biosuperiors, represent a class of recombinant protein drugs that belong to the same category as existing biopharmaceuticals. However, they are distinct in that they are not identical to the source drugs. Biobetters are designed to enhance clinical efficacy, improve tolerance, reduce dosing frequency, and lower side effects. The Biobetters Market is poised to grow due to their numerous advantages, including superior therapeutic efficacy, reduced side effects, cost-effective production methods, non-patent and market exclusivity, extended product half-life, reduced dosage frequency, and attractive investment opportunities.
Factors Driving the Growth of the Biobetters Market
"High Efficacy and Few Side Effects"
Biobetters are engineered to be improved versions of existing biologics, offering enhanced therapeutic benefits, reduced side effects, and less frequent dosing. This superior efficacy and lower dosing frequency contribute to patient compliance and are expected to drive significant market growth.
"Simple and Cost-effective Manufacturing Process"
Biobetters are manufactured using processes similar to biologics, with the incorporation of modern technologies such as pegylation and albumin replacement. These techniques have streamlined the production of biobetters, making it more cost-effective compared to biologics. Biobetters have a shorter development timeline, approximately 10 years, in contrast to the longer development period of around 15 years for biologics. While biosimilars require roughly half the development cost of biobetters, the latter offer superior therapeutic effectiveness.
"Increasing Research Activities"
Continuous research efforts by biopharmaceutical manufacturers and investors to develop improved formulations are driving the expansion of the biobetters market. Advanced biophysical and biochemical approaches have emerged, providing significant momentum to the industry's growth.
"Increased Investment in Developing Therapeutic Agents"
The growing investment in developing therapeutic agents with enhanced effectiveness and safety profiles for conditions such as cancers and autoimmune diseases is influencing the biobetters market positively. Efforts to mitigate the economic impact of chronic diseases have led to substantial investments in new drug development, further fueling market growth.
Challenges Faced by the Biobetters Market
"High Investments Required for R&D Activities"
The development of novel medicinal drugs, including biobetters, demands substantial investments in research and development, which can act as a limitation on market growth. However, the post-COVID-19 era has witnessed a significant surge in R&D spending for the development of biobetters. Additionally, increasing biosimilar competition poses challenges to market expansion.
Impact of COVID-19 on the Biobetters Market
"Increase in Investment for Developing Novel Biobetters"
The COVID-19 pandemic has prompted a notable increase in R&D investment for the development of novel biobetters. Manufacturers and investors in the biobetter industry are actively working on improving formulations, resulting in numerous novel medications in the pipeline or undergoing clinical trials.
Competitive Landscape
The Biobetters market is characterized by intense competition, with several major players dominating the industry. Market participants are focusing on mergers and strategic alliances to expand their product portfolios and enhance market share, leveraging the industry's growth phase.
Key Companies Profiled
F.Hoffmann-La Roche AG
Merck & Co. Inc.
Sanofi SA
SERVIER
Porton Biopharma Limited
Eli Lilly and Company
Novo Nordisk A/S
Biogen Inc.
CSL Behring GmbH
Teva Pharmaceutical Industries Ltd.
Biobetters Market Segmentation
Biobetters Market by By Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Biobetters Market By Molecule Type
G-CSF Biobetters
Insulin Biobetters
Erythropoietin Biobetters
Monoclonal Antibodies Biobetters
Others
Biobetters Market by Disease Indication
Cancer
Diabetes
Genetic disease
Neurological Disorders
Others
Biobetters Market by Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa (MEA)
Table of Contents
1. Executive Summary
1.1. Global Biobetters Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Biobetters Market Outlook, 2018 - 2031
3.1. Global Biobetters Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. Erythropoietin Biobetters
3.1.1.2. G-CSF Biobetters
3.1.1.3. Interferon Biobetters
3.1.1.4. Insulin Biobetters
3.1.1.5. Monoclonal Antibodies Biobetters
3.1.1.6. Anti-haemophilic Factor
3.1.1.7. Others
3.2. Global Biobetters Market Outlook, by Indication, Value (US$ Bn), 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Diabetes
3.2.1.2. Cancer
3.2.1.3. Renal Disease
3.2.1.4. Neurodegenerative Disease
3.2.1.5. Genetic Disorders (Haemophilia)
3.2.1.6. Others
3.3. Global Biobetters Market Outlook, by Route of Administration, Value (US$ Bn), 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. Subcutaneous
3.3.1.2. Intravenous
3.4. Global Biobetters Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031
3.4.1. Key Highlights
3.4.1.1. Hospital Pharmacies
3.4.1.2. Retail Pharmacies
3.4.1.3. Online Pharmacies
3.5. Global Biobetters Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
3.5.1. Key Highlights
3.5.1.1. North America
3.5.1.2. Europe
3.5.1.3. Asia Pacific
3.5.1.4. Latin America
3.5.1.5. Middle East & Africa
4. North America Biobetters Market Outlook, 2018 - 2031
4.1. North America Biobetters Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. Erythropoietin Biobetters
4.1.1.2. G-CSF Biobetters
4.1.1.3. Interferon Biobetters
4.1.1.4. Insulin Biobetters
4.1.1.5. Monoclonal Antibodies Biobetters
4.1.1.6. Anti-haemophilic Factor
4.1.1.7. Others
4.2. North America Biobetters Market Outlook, by Indication, Value (US$ Bn), 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Diabetes
4.2.1.2. Cancer
4.2.1.3. Renal Disease
4.2.1.4. Neurodegenerative Disease
4.2.1.5. Genetic Disorders (Haemophilia)
4.2.1.6. Others
4.3. North America Biobetters Market Outlook, by Route of Administration, Value (US$ Bn), 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. Subcutaneous
4.3.1.2. Intravenous
4.4. North America Biobetters Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031