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What fueled the previous growth in the biosimilars market?

The size of the biosimilars market has seen rapid escalation in the past few years. It is anticipated to increase from $18.65 billion in 2024 to $21.95 billion in 2025, marking a compound annual growth rate (CAGR) of 17.7%. The heightened growth during the historic period owes much to factors such as the rising incidence of cancer, robust economic ascent in developing markets, a surge in expenditure for pharmaceutical research and development, amplified healthcare spending, expanding government initiatives, a potent drugs pipeline, reduced pricing for biosimilars, and a rise in patent expiry.

What will be the biosimilars market size in the future?

In the following years, the biosimilars market is predicted to experience swift expansion, with an estimate to reach the value of $42.16 billion in 2029, displaying a compound annual growth rate (CAGR) of 17.7%. This elevation in the projection phase can be related to factors such as the growing incidence of cancer, rising requirement for preventive measures using granulocyte colony-stimulating factor (G-CSF), elevated healthcare expenditures, promising potential of up-and-coming economies, advancements in technology, extensive adaptability of biological drugs, an ageing population and improved healthcare accessibility. Foreseen trends for the period of prediction comprise a focus on vigorous R&D undertakings for the formulation of potent and innovative drugs, emphasis on M&A for growth tactics, efforts towards establishing strategic associations, concentration on increasing investments, and the utilization of artificial intelligence.

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What main drivers are fueling expansion in the biosimilars market?

The escalation in the occurrence of enduring illnesses such as arthritis, cancer and asthma is anticipated to have significant influence on the biosimilars market growth. Factors like excessive work hours, inactive lifestyle, and poor dietary choices contribute to the spread of such diseases which are comprehensively treated with biosimilars. They generate an immune system response against cancer cells aiding in their eradication from the body. A United Nations document predicts that by 2030, chronic diseases will cause 70% of all deaths worldwide with the overall impact of chronic disease expected to go up to about 60%. Hence, the growing prevalence of these diseases is anticipated to heighten the biosimilars’ demand, thereby inflating the biosimilars market.

What key areas define the segmentation of the global biosimilars market?

The biosimilars market covered in this report is segmented –

1) By Type: Monoclonal Antibodies, Insulin, Erythropoietin, Granulocyte-Colony Stimulating Factor, Other Hormones, Others

2) By Product: Recombinant Non-glycosylated Proteins, Recombinant Glycosylated Proteins

3) By Application: Oncology, Chronic And Autoimmune Diseases, Growth Hormone Deficiency, Infectious Diseases, Other Applications

Subsegments:

1) By Monoclonal Antibodies: IgG Biosimilars, Non-IgG Biosimilars

2) By Insulin: Rapid-Acting Insulin Biosimilars, Long-Acting Insulin Biosimilars, Premixed Insulin Biosimilars

3) By Erythropoietin: Epoetin Alfa Biosimilars, Darbepoetin Alfa Biosimilars

4) By Granulocyte-Colony Stimulating Factor (G-CSF): Filgrastim Biosimilars, Pegfilgrastim Biosimilars

5) By Other Hormones: Growth Hormones, Hormonal Replacement Therapy Biosimilars

6) By Others: Enzyme Biosimilars, Vaccines, Other Biologics

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Who are the dominant players expanding their reach in the biosimilars market?

Major companies operating in the biosimilars market include Amgen, Novartis AG, Samsung Bioepis Co., Ltd., Viatris, Celltrion, Inc., Coherus Biosciences, Eli Lilly and Company, Dr. Reddy’s Laboratories, Roche India Pvt Ltd, Abbott India Limited, bioMérieux India, Becton Dickinson Private Limited, Danaher Corporation, Wuxi biologics, shanghai Henlius biotech, Innovent Biologics, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, AGC Biologics, Bio-Thera, Sandoz Pty Ltd, Apotex Pty Ltd, Cadila Pharmaceuticals, BiosanaPharma, GlaxoSmithKline, AstraZeneca, Bayer, Merck, Boehringer Ingelheim, Sanofi, Fresenius Kabi, Napp Pharmaceuticals, Mundipharma Deutschland GmbH & Co. KG, Geropharm, Valenta, NovaMedica, SynBio, Rani Therapeutics, Johnson & Johnson, Biogen Inc., Aché, Eurofarma, Teva Pharmaceuticals, Oramed Pharmaceuticals, Entera Bio, Julphar, Hikma Pharmaceuticals, BIOPHARMA-MEA, NeoTX, AID Genomics Limited, Altis Biologics, Cipla Medpro South Africa, Next Biosciences, Viome, Inqaba Biotechnical Industries (Pty)

How are evolving market trends shaping biosimilars Strategies?

In a bid to secure a competitive advantage in the biosimilars market, leading companies are concentrating on the development of novel products. AMJEVITA, touted as Humira’s first U.S. biosimilar, is used by over a million patients grappling with some serious inflammatory diseases. For instance, Amgen Inc., a biotechnology corporation based in the U.S., introduced AMJEVITA (adalimumab-atto), a biosimilar to Humira (adalimumab), into the U.S. market in January 2023. The listed price (wholesale acquisition cost) of AMJEVITA (40 mg) is 55% lower than the current list price of Humira. Furthermore, AMJEVITA is also offered at a list price that is 5% less than the current list price of Humira.

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Which regions are emerging as leaders in the biosimilars market?

North America was the largest region in the global biosimilars market in 2024. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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