Biobetters Market to Generate Heightened Revenue Prospects

Posted by Merin John on May 18th, 2021

Increasing usage of therapeutically more effective drugs for the treatment of chronic diseases is expected to drive the growth of biobetters market. Higher efficacy and lower adverse effects are among the important factors that are expected to fuel the growth of the biobetters market over the forecast period.

According to the latest research by the company, the global biobetters market is projected to account for a market value of around US$ 99,000.0 Mn by the end of 2029. The report also projects a significant growth potential for the biobetters market throughout the forecast period.

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Companies Profiles

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.

Better Therapeutic Outcome at Lower Costs

Lower cost of treating various chronic diseases with the usage of biobetters is one of the prominent factors contributing to the substantial growth of the biobetters market. Biobetters are more effective and longer-acting medicines as compared to biosimilars, which are their reference biologic products.

Although biosimilars are 20 to 30% cheaper as compared to biobetters, superior efficacy and lesser dosage frequency makes biobetters a preferred treatment option.

Moreover, the treatment cost of each cycle using biobetters is relatively lower than that of biologics. For example, Neulasta, a biobetter of Neupogen, costs around US$ 3,400 – 4,000 for each treatment cycle, whereas Neupogen cost around US$ 6,000 at the inception.

Although the cost of Neulasta increased considerably, it made only a little difference due to its increased patient compliance and efficacy. However, the market share of Neupogen and its biosimilars remains significantly low, when compared to Neulasta. The superiority of biobetters in terms of pricing, dosage, efficacy, etc. makes them among the most preferred treatment options among patients as well as healthcare professionals.

Various pharmaceutical and biopharmaceutical companies are seeking approval for their respective biobetters for the treatment various diseases. For example, on May 7, 2019, Roche received approval for its Kadcyla drug for the adjuvant treatment of HER2-positive early breast cancer in patients who are affected by residual invasive disease after undergoing neoadjuvant taxane-trastuzumab-based treatment.

Kadcyla was earlier approved for the treatment of HER2-positive metastatic breast cancer. In March 2017, Roche received FDA approval for its drug named Ocrevus (ocrelizumab) for the treatment of the relapsing form of multiple sclerosis.