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Biobetters Market Size
- Report ID: GMI11126
- Published Date: Aug 2024
- Report Format: PDF
Biobetters Market Size
Biobetters Market size was valued at around USD 52.8 billion in 2023 and is estimated to grow at 8.3% CAGR from 2024 to 2032. Biobetters, are new drugs designed from existing ones with improved properties such as higher selectivity, stability, lower toxicity with a better structure or formulation that makes it clinically superior.
The increasing prevalence of chronic diseases such as diabetes, cancer, and autoimmune disorders is significantly propelling the market. The World Health Organization (WHO) reports that non-communicable diseases (NCDs) including heart disease, stroke, cancer, diabetes, and chronic lung disease account for 74% of all global deaths. Furthermore, the International Diabetes Federation (IDF) Diabetes Atlas indicates that, as of 2021, 537 million adults aged 20-79 were living with diabetes about 1 in 10 people. This number is expected to rise to 643 million by 2030 and 783 million by 2045.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Biobetters Market Size in 2023: | USD 52.8 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 8.3% |
| 2032 Value Projection: | USD 107.2 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 182 |
| Tables, Charts & Figures: | 280 |
| Segments covered: | Drug Class, Application, Route of Administration, Distribution Channel, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The ongoing need for effective management and treatment of these chronic conditions creates a substantial demand for innovative therapies that deliver improved outcomes. Biobetters meet this demand by offering more effective and convenient treatment options. Therefore, as the global population ages and the incidence of chronic conditions continues to increase, the demand for advanced biobetter therapies is anticipated to grow, accelerating market expansion.
Furthermore, one of the primary catalysts for the biobetters market is their ability to offer enhanced therapeutic effectiveness and reduced side effects compared to existing biologics. Biobetters are designed with improved formulations, modifications, or new mechanisms of action that can increase their potency and efficacy. This often results in more effective treatment outcomes for patients, such as better disease control or faster relief from symptoms.
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Biobetters Market Scope
