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Biobetters Market Trends

Report ID: GMI11126
Published Date: Aug 2024
Report Format: PDF

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Biobetters Market Trends

Pharmaceutical and biotechnology companies are increasingly investing in R&D to develop next-generation biologics that offer superior therapeutic benefits. This investment supports the exploration of new technologies, improved pharmaceutical drug delivery which is estimated to reach USD 3.2 trillion by 2032, and novel therapeutic targets.
Companies are focusing on optimizing existing biologics and creating biobetters with enhanced characteristics, such as longer-lasting effects, better stability, and improved safety profiles. The commitment to R&D not only accelerates the development of innovative therapies but also stimulates competition and advancements in the market, leading to the introduction of new and improved treatment options for patients.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Biobetters market size was valued at USD 52.8 billion in 2023 and is estimated to grow at 8.3% CAGR from 2024 to 2032 driven by the increasing prevalence of chronic diseases.

The monoclonal antibodies segment in the market is forecasted to reach USD 38.5 billion by 2032 as they offer high specificity and efficacy by targeting precise antigens involved in these diseases.

The U.S. biobetters market is projected to reach USD 44.1 billion by 2032 owing to the FDA’s initiatives, such as expedited review processes and incentives for novel therapies.

AbbVie Inc., Amgen Inc., AstraZeneca PLC,. Biogen Inc., Bristol-Myers Squibb Company, Celltrion Inc., Eli Lilly And Company, F. Hoffmann-La Roche Ltd., GSK plc, Kiniksa Pharmaceuticals, Ltd., Merck & Co., Inc., and Novo Nordisk A/S among others.