The Biobetters market studied is expected to grow with an anticipated CAGR of 7.8%, during the forecast period. With the developments in biotechnology, advances are being made in the treatment of most of the diseases. One such most important advent is Biobetters. The major drivers of the Biobetters market are the advantages of Biobetters such as superior therapeutic efficacy, lower adverse effects, easier and less costly manufacturing processes, non-patent and market exclusivity, longer product half-life, less dosing frequency and availability of high investment opportunities in this sector. By the year 2020, approximately USD 110 billion worth of biopharmaceuticals are expected to be off patent and almost one third of the pharmaceutical sector is comprised of biopharmaceuticals.
A biobetter can be assigned a premium price for its improved characteristics, compared to other similar biologics. However, due to reduction in the number of dosages required, significant cost savings can be achieved. Hence, this impacts the willingness of payers to purchase the product. One such example is Neulasta- a Biobetter of Amgen Inc, to its own drug Neupogen. A single treatment cycle of Neupogen costs USD 6000, whereas Neulasta is USD 3400, though the per unit price of Neupogen is USD 300 and Neulasta is USD 3400. Hence, there is a 40% reduction in the overall cost to the healthcare provider.
Development of Biobetters is also followed as a defense strategy by the originator companies, to protect their market niche against biosimilars and also to overcome patent issues. For example, the subcutaneous formulation of Roche’s trastuzumab was released into market in 2013, before Roche’s Herceptin (intravenous trastuzumab) patent expired in 2014. Hence, the Biobetters Market is estimated to grow rapidly during the forecast period.
Key Market Trends
The Insulin Biobetters are Expected to Evident a Prominent Growth over the Forecast Period in Drug Class Segment
As per the CDC, more than 100 million adults in the United States are living with diabetes and prediabetes. According to the International Diabetes Federation, 463 million people are living with diabetes across the globe in 2019 and is expected to increase to 578 million by 2030. The health expenditures for diabetes is expected to rise from USD 760 billion in 2019 to USD 825 billion in 2030. Also, the increasing geriatric population and adoption to various lifestyle has been leading to an increase in the diabetic population. Due to the higher prevalence of diabetes during the forecast period, the segment of insulin biobetters is expected to show a huge market growth across the globe.
North America is Expected to be a Prominent Biobetters Market over the Forecast Period
As Biobetters are approved through Biologics Approval pathway as new molecules, a 10-12 years of market exclusivity is provided in regions such as North America. This time period allows the originator companies to invest on Research and development. The United States is the global leader in the Biopharmaceutical market, accounting for one-third of the global market. According to the Pharmaceutical Research and Manufacturers Association, over half of the world’s R&D in pharmaceuticals ( USD 75 billion) and Intellectual Property Rights of most new medicines are held by the United States. Also, most of the biopharmaceuticals in the US are getting into collaborations and partnerships with the regional players and investing funds in research and development. For example, Kadcyla drug developed by Roche, approved in 2019 is an adjuvant treatment for HER2- positive early breast cancer in patients affected by residual invasive disease post neoadjuvant taxane-trastuzumab-based treatment.
Competitive Landscape
The Biobetters market is highly competitive and consists of significant major players, that dominate the market. The major players in Biobetters market are Amgen Inc., Novo Nordisk A/S, L. Hoffmann-La Roche AG, Merck & Co., Inc., Sanofi, Genentech, USA Inc., Eli- Lilly and Company, Biogen Inc., CSL Behring and Pfizer Inc. Most of these companies are involved in strategies such as investing in research and development, acquisitions and collaborations.
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Table of Contents
Methodology
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