Biobetters Market Size

Biobetters Market Analysis

The Biobetters market is expected to grow with an anticipated CAGR of 7.8%, during the forecast period.

Patients suffering from various medical conditions were at high risk of getting severe illnesses as a result of COVID-19 infections during the pandemic. These conditions include diabetes, cancer, renal failure, and neurodegenerative disease. For instance, according to the data updated by CDC in May 2022, it was observed that people younger than 18 with COVID-19 infections were up to 2.5 times more likely to be newly diagnosed with diabetes in the months after infection. Thus, the increased risk of these medical conditions during the pandemic had a significant impact on the usage of biobetter medications. Moreover, according to an article published by SpringerLink in January 2022, experts around the world agreed that subcutaneous biobetters could play an important role during health emergencies, such as the COVID-19 pandemic. Thus, the COVID-19 pandemic impacted the market significantly during the initial phase. However, as the pandemic has subsided currently, the studied market is expected to have normal growth during the forecast period of the study. The major factors that are enhancing the market growth include superior therapeutic efficacy and lower adverse effects, comparatively easier and less costly manufacturing processes, non-patent and market exclusivity, longer product half-life, less dosing frequency, and high investment opportunities.

According to an article published by Elsevier in January 2022, biobetters are improved biological drugs that usually have better pharmacokinetics, and techniques such as glycosylation and PEGylation are the most common strategies to develop biobetters. The source also stated that innovative trends in genetic engineering are promising for biobetters development. Thus, the increasing advantages of biobetters along with the rising biobetter development techniques are expected to boost market growth.

Furthermore, according to an article published by PubMed Central in January 2022, biobetters are considered better than the original biologic in one or more parameters and it is estimated that with a proper target and a highly efficacious original biologic, the chances of a biobetter reaching the production stage are incredibly high. The source also mentioned that the duration of research and development of a biobetter is comparatively much shorter than an innovator molecule. Thus, the superior therapeutic efficacy of biobetters and the comparatively easier and less costly manufacturing processes are expected to boost market growth.

Moreover, the increasing developments regarding biobetters are also enhancing market growth. For instance, in April 2021, the European Medicines Agency (EMA) fully backed the use of Celltrion Healthcare's biobetter subcutaneous infliximab without initial intravenous loading doses. Securing the regulatory recommendation boosts Celltrion's efforts to outcompete Johnson & Johnson's Remicade and its biosimilar rivals.

Thus, the aforementioned factors such as the increasing advantages of biobetters along with the rising biobetter development techniques, the superior therapeutic efficacy of biobetters and the comparatively easier and less costly manufacturing processes, and the increasing developments by various organizations are expected to boost the market growth. However, high investment in research and development and increasing biosimilar competition are expected to impede market growth.