The global biobetters market size was estimated to be USD 46.78 billion in 2023 and is expected to reach USD 112.12 billion by 2034 with a CAGR of 8.27% during the forecast period 2024-2034. The demand for enhanced efficacy and safety, advancements in biotechnology and protein engineering, the growing biopharmaceutical market, patient demand for personalized medicine, and collaborations and partnerships will drive the market growth.
A favorable environment for the development of biobetters is created by the market's general expansion for biopharmaceuticals, which includes monoclonal antibodies and other biologics. The market for biobetters is growing as a result of the growing acceptance and application of biologics in a range of therapeutic fields. For instance, in October 2023, Alector Biosciences and Roche announced a partnership to co-develop biobetters for neurodegenerative illnesses.
By drug class, the monoclonal antibodies biobetters segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the innovative modifications and advancements made in monoclonal antibody engineering, resulting in enhanced therapeutic efficacy, improved safety profiles, and increased patient acceptance. For instance, Novartis will introduce Kanjinti (a biosimilar of trastuzumab) in July 2023 to treat HER2-positive breast cancer and HER2-positive metastatic gastric cancer. Additionally, the insulin biobetters segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of diabetes worldwide and the imperative need for more effective and patient-friendly insulin therapies.
By disease indication, the cancer segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the increased prevalence of various cancer types, driving the demand for more effective and targeted therapeutic interventions. For instance, Pfizer announced favorable Phase 3 results in October 2023 for ABP 738, a biosimilar of pegfilgrastim used to reduce neutropenia. Additionally, the neurodegenerative diseases segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing global prevalence of neurodegenerative diseases, such as Alzheimer's and Parkinson's, and the pressing need for advanced therapeutic options.
By route of administration, the subcutaneous segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the increasing preference for patient-friendly and convenient administration routes, coupled with the advantages of subcutaneous delivery in terms of improved bioavailability and reduced side effects. For instance, Johnson & Johnson completes the purchase of Abiomed in December 2023, broadening its range of cardiovascular devices and maybe opening the door for biobetter integration for the treatment of heart failure. Additionally, the intravenous segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for rapid onset of action, precise dosage control, and the ability to administer larger volumes of biobetters in critical therapeutic situations.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the prevalent practice of administering biobetters in a hospital setting, where complex and specialized therapies can be managed by healthcare professionals. For instance, Eli Lilly and Company said in June 2023 that it will be working with Elly Lilly Japan to develop and market biobetters for autoimmune illnesses. Additionally, the retail pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising trend of patient-centric care and the expanding role of retail pharmacies in providing convenient access to biobetters for chronic conditions and long-term treatments.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust presence of key biopharmaceutical companies, a well-established healthcare infrastructure, and a high prevalence of chronic diseases driving the demand for advanced therapeutic solutions. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of chronic diseases, a rapidly expanding healthcare infrastructure, and a growing emphasis on biotechnology and pharmaceutical research and development. For instance, AbbVie and Regeneron will collaborate to develop a biobetter in October 2023 to treat age-related macular degeneration (AMD).
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
A favorable environment for the development of biobetters is created by the market's general expansion for biopharmaceuticals, which includes monoclonal antibodies and other biologics. The market for biobetters is growing as a result of the growing acceptance and application of biologics in a range of therapeutic fields. For instance, in October 2023, Alector Biosciences and Roche announced a partnership to co-develop biobetters for neurodegenerative illnesses.
By drug class, the monoclonal antibodies biobetters segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the innovative modifications and advancements made in monoclonal antibody engineering, resulting in enhanced therapeutic efficacy, improved safety profiles, and increased patient acceptance. For instance, Novartis will introduce Kanjinti (a biosimilar of trastuzumab) in July 2023 to treat HER2-positive breast cancer and HER2-positive metastatic gastric cancer. Additionally, the insulin biobetters segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of diabetes worldwide and the imperative need for more effective and patient-friendly insulin therapies.
By disease indication, the cancer segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the increased prevalence of various cancer types, driving the demand for more effective and targeted therapeutic interventions. For instance, Pfizer announced favorable Phase 3 results in October 2023 for ABP 738, a biosimilar of pegfilgrastim used to reduce neutropenia. Additionally, the neurodegenerative diseases segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing global prevalence of neurodegenerative diseases, such as Alzheimer's and Parkinson's, and the pressing need for advanced therapeutic options.
By route of administration, the subcutaneous segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the increasing preference for patient-friendly and convenient administration routes, coupled with the advantages of subcutaneous delivery in terms of improved bioavailability and reduced side effects. For instance, Johnson & Johnson completes the purchase of Abiomed in December 2023, broadening its range of cardiovascular devices and maybe opening the door for biobetter integration for the treatment of heart failure. Additionally, the intravenous segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for rapid onset of action, precise dosage control, and the ability to administer larger volumes of biobetters in critical therapeutic situations.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global biobetters market in 2023 owing to the prevalent practice of administering biobetters in a hospital setting, where complex and specialized therapies can be managed by healthcare professionals. For instance, Eli Lilly and Company said in June 2023 that it will be working with Elly Lilly Japan to develop and market biobetters for autoimmune illnesses. Additionally, the retail pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising trend of patient-centric care and the expanding role of retail pharmacies in providing convenient access to biobetters for chronic conditions and long-term treatments.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust presence of key biopharmaceutical companies, a well-established healthcare infrastructure, and a high prevalence of chronic diseases driving the demand for advanced therapeutic solutions. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of chronic diseases, a rapidly expanding healthcare infrastructure, and a growing emphasis on biotechnology and pharmaceutical research and development. For instance, AbbVie and Regeneron will collaborate to develop a biobetter in October 2023 to treat age-related macular degeneration (AMD).
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Drug Class, Disease Indication, Route of Administration, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Biobetters Market Report 2023 - 2034
Biobetters Market Analysis & Forecast by Drug Class 2023 - 2034 (Revenue USD Bn)
- Erythropoietin biobetters
- Insulin biobetters
- G-CSF biobetters
- Interferon biobetters
- Monoclonal antibodies biobetters
- Anti-hemophilic factors
- Other biobetters
Biobetters Market Analysis & Forecast by Disease Indication 2023 - 2034 (Revenue USD Bn)
- Diabetes
- Cancer
- Renal disease
- Neurodegenerative diseases
- Genetic disorders
- Others
Biobetters Market Analysis & Forecast by Route of Administration 2023 - 2034 (Revenue USD Bn)
- Subcutaneous
- Intravenous
- Others
Biobetters Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Biobetters Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Biobetters Market: Drug Class Estimates & Trend Analysis
8. Biobetters Market: Disease Indication Estimates & Trend Analysis
9. Biobetters Market: Route of Administration Estimates & Trend Analysis
10. Biobetters Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Biobetters Market
13. Europe Global Biobetters Market
14. Asia Pacific Global Biobetters Market
15. Latin America Global Biobetters Market
16. MEA Global Biobetters Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Roche
- Amgen
- Novartis
- Pfizer
- Johnson & Johnson
- Eli Lilly and Company
- AbbVie
- Biogen
- AstraZeneca
- Sanofi
- Merck & Co.
- Genentech (a member of the Roche Group)
- Celgene (acquired by Bristol Myers Squibb)
- Teva Pharmaceuticals
- Samsung Bioepis.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 46.78 Billion |
| Forecasted Market Value ( USD | $ 112.12 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
