The global Biobetters Market value is expected to exceed US$ 99,262.5 million by the year 2029, according to a new report published by Persistence Market Research (PMR). The report also projects that the global Biobetters Market will witness a CAGR of 8.6% between 2022 and 2029.
The superior therapeutic efficacy, lesser side effects, easier and less expensive production methods, non-patent and market exclusivity, longer product half-life, and lower dosage frequency of Biobetters is expected to drive the growth of the market in the upcoming period. Another factor that is expected to boost the growth of the Biobetters market in the near future is the simple and less expensive manufacturing process of biobetters.
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Companies
- Amgen Inc.
- F. Hoffmann-La Roche AG
- Merck & Co. Inc.
- Sanofi SA
- SERVIER
- Porton Biopharma Limited
- Eli Lily and Company
- Novo Nordisk A/S
- Biogen Inc.
- CSL Behring GmbH
- Teva Pharmaceutical Industries Ltd.
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Since biobetters are certified as novel compounds under the Biologics Approval process, they have 10-12 years of commercial exclusivity in North America. This timeframe permits the OEMs to invest in R&D activities. The United States leads the world in the biopharmaceutical market, accounting for one-third of the total.
According to the Pharmaceutical Research and Manufacturers Association, the United States controls more than half of the world’s R&D in pharmaceuticals (USD 75 billion) and the Intellectual Property Rights to the majority of new medications. Furthermore, most biopharmaceutical companies in the United States are forming alliances and partnerships with regional players and investing in research and development. Hence, North America is likely to be a prominent Biobetters Market in the near future.
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PMR has presented a comprehensive report on the Biobetters Market as per Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Molecule Type (G-CSF Biobetters, Insulin Biobetters, Erythropoietin Biobetters, Monoclonal Antibodies Biobetters, Others), Disease Indication (Cancer, Diabetes, Genetic disease, Neurological Disorders, Others) based on seven regions.
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