Biobetters Market Size to Reach USD 301.08 Billion in 2030 | Longer Product Half-Life and Less Dosing Frequency as Compared to Biosimilars are Factors Driving Biobetter Industry Demand, Says Emergen Research
VANCOUVER, BC, April 13, 2022 /PRNewswire/ -- The global biobetters market size reached USD 27.37 Billion in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Comparatively easier and less costly manufacturing processes are driving market revenue growth.
Drivers:
Biobetters are a strong competitor to biosimilars owing to the compelling need to discover a solution to improve biologics' safety and efficacy. The biobetters market's growth patterns have been determined by increasing investment in discovering therapeutic medicines with superior effectiveness and safety profiles for malignant tumors and autoimmune illnesses. There have been considerable attempts in recent decades to reduce the economic cost of chronic illnesses. The growing availability of antibodies such as monoclonal antibodies had a favorable impact on the biobetters market. Increasing incidence of chronic kidney disease and chemotherapy-induced anemia also have an impact on market's revenue growth.
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Restraints:
However, biobetters are also difficult to deal with. Biobetter development, like all biologics, is loaded with danger and necessitates extensive research and development., Biobetters are bound to have a greater success rate than originator biologics owing to a specific biologic target, although an enhanced biologic is far from definite and may require extensive testing. Biobetters may also have new and unanticipated negative effects that are not present in the original biologics. Biologics License Application (BLA) with a complete complement of pre-clinical and medical evidence is also required for approval of a biobetter. As a result, biobetter Research and Development (R&D) expenses will be much higher than those of a biosimilar .
Growth Projections:
The global biobetters market is expected to register a CAGR of 30.7% over the forecast period and revenue is projected to increase from USD 27.37 Billion in 2021 to USD 301.08 Billion in 2030. Longer product half-life which means the time required for a quantity of a biobetter product to reduce to half of its initial value is longer than biosimilar product and it has less dosing frequency than biosimilar, which is driving market revenue growth.
COVID-19 Impact Analysis:
COVID-19 can cause severe disease in those who have certain underlying medical disorders. Diabetes, cancer, renal illness, and neurodegenerative disease are among these conditions. According to the Centers for Disease Control and Prevention (CDC), existing research shows that patients with type 2 diabetes are at a greater risk from COVID-19. In general, infections are more dangerous in diabetics. One explanation is that diabetes alters the immune system's function, making it more difficult for the body to combat infections. Diabetes also results in high blood sugar levels and the International Diabetes Federation (IDF) notes that the new coronavirus "may thrive in an environment of increased blood glucose." The COVID-19 pandemic has had an influence on nearly every element of cancer care and research, from bringing new dangers for cancer patients to interrupting cancer therapy and research. These factors will generate an opportunity for the biobetters market.
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Current Trends and Innovations:
Manufacturers are working on a variety of ways to develop biobetters for some of the most popular antibody products. One such technique is to create a fragment of the originator antibody that preserves the antibody's effectiveness while providing delivery or safety improvements. Lucentis, for example, is a fragment of Roche's Avastin antibody, which is used to treat age-related macular degeneration and edema. Avastin is also used to treat colon and other malignancies. Only Lucentis is licensed for ophthalmic usage and the antibody fragment may enter the retina better than the whole antibody.
Geographical Outlook:
Market in Europe is expected to grow at a moderate rate during the forecast period owing to the region's well-defined regulatory requirements and increased number of pipeline projects for biobetter development.
Strategic Initiatives:
Major companies included in the global market report are Amgen Inc. Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, Marck KGaA, Sanofi, Genentech, Inc. Eli Lily and Company, Biogen, Teva Pharmaceutical Industries Ltd., and CSL Behring.
- In March 2022, Broad collaborated with Max Planck Institute for Multidisciplinary Sciences and University Medical Center Göttingen (UMG), Germany, for the development of NanoAbs which is a biobetter addressing diseases with large unmet medical needs and attractive commercial opportunities such as asthma, psoriasis, psoriatic arthritis, and macular degeneration.
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Emergen Research has segmented global biobetters market on the basis of drug class, application, route of administration, distribution channel insights, and region:
- Drug Class Outlook (Revenue, USD Billion; 2019–2030)
- Erythropoietin Biobetters
- Insulin Biobetters
- G-CSF Biobetters
- Monoclonal Antibodies Biobetters
- Anti-Hemophilic Factor
- Other Biological Drug Biobetters
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Cancer
- Diabetes
- Renal Disease
- Neurodegenerative Disease
- Genetic Disorders
- Others
- Route of Administration Outlook (Revenue, USD Billion; 2019–2030)
- Subcutaneous
- Oral
- Inhaled
- Intravenous
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019–2030)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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- Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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