Pune, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Global Biosimilars Market Size & Growth Analysis:
According to SNS Insider, The Biosimilars Market size was valued at USD 29.51 billion in 2023 and is projected to reach USD 127.92 billion by 2032, growing at a robust CAGR of 17.7% from 2024 to 2032. The market's expansion is primarily driven by increasing healthcare costs, the growing demand for biologics, and the favorable regulatory framework for biosimilars. The availability of cost-effective biosimilars is helping to expand patient access to life-saving biologic therapies, which, in turn, is fueling market growth.
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Key Biosimilars Companies Profiled
- Dr. Reddy’s Laboratories
- Sandoz
- Coherus Biosciences
- Viatris
- Bio-Thera Solutions
- Reliance Life Sciences
- Intas Pharma
- Celltrion
- Zydus Cadila
- Lupin Pharma
- Samsung Bioepis
- Pfizer
- Apobiologix
- Amgen
- Teva Pharmaceuticals
- Fresenius Kabi
- Biocon Ltd
- Biocad and others.
Biosimilars Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 29.51 billion |
| Market Size by 2032 | US$ 127.92 billion |
| CAGR | CAGR of 17.7% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | Rising demand for affordable alternatives to biological therapy and the expiration of patents for major biologic drugs. |
Segmentation Insights
By Type, Monoclonal antibodies have become a dominant segment in the biosimilars market, capturing 27.4% of the total market share in 2023.
These biologics are used in the treatment of chronic diseases such as rheumatoid arthritis and certain cancers. The monoclonal antibodies segment is mainly driven by the increasing approval of biosimilars, which provide affordable alternatives to branded biologics.
The granulocyte-colony stimulating factor is anticipated to be the growth leader in the biosimilars market. Biosimilars of G-CSF are important for regulating white blood cells in cancer patients undergoing chemotherapy. This has been a tremendously growing application because of the prevalence of cancer being seen globally and the increasing use of biosimilars as alternatives to the original biologic drugs that are cheaper and equally as effective as the original.
By Application, Blood disorders held the largest market share in 2023, accounting for 37.2%.
This is driven primarily by an increase in diseases such as anemia, coupled with the escalating need for drugs that include biologic therapies like erythropoiesis-stimulating agents. Biosimilars within this segment have emerged as the critical solution for the needs of patients who require long-term, cost-efficient treatment for chronic blood disorders.
Oncology diseases are considered the fastest-growing application in the biosimilar market. As the incidence rate of cancer is rising around the world, there is a strong escalation in demand for biologic treatments, with particular emphasis on monoclonal antibodies and their biosimilars. An expected rise in the availability of biosimilars for cancer treatments will drastically increase access to these life-changing treatments for patients.
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Regional Insights
North America held the largest market share of 43.2% in 2023.
The region has a strong and well-established healthcare infrastructure. Biosimilars are widely adopted in this region, and biologic therapy is expanding into the market continuously. For example, in the United States, the country leads in the adoption of biosimilars. The approval of several biosimilars gives patients cheaper alternatives while also lowering the cost of biologic treatment.
The Asia-Pacific is expected to grow at the highest CAGR from 2024-2032 due to the rapid expansion of access to healthcare, higher healthcare investments, and increasing awareness of biosimilars as a cost-effective alternative. Countries like China and India are witnessing significant growth due to an increasing burden of chronic diseases such as cancer and blood disorders combined with a high population growth rate. The expanding healthcare landscape in the region is opening up new opportunities for biosimilars, especially as governments push for broader access to affordable biologic therapies.
Biosimilars Market Segmentation
By Type
- Human growth hormone
- Erythropoietin
- Monoclonal antibodies
- Insulin
- Granulocyte-Colony Stimulating Factor
By Application
- Blood disorders
- Oncology diseases
- Chronic and autoimmune diseases
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Drug Volume: Production and usage volumes of pharmaceuticals.
5.4 Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.
6. Competitive Landscape
7. Biosimilars Market by Type
8. Biosimilars Market by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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