Global Biosimilar Market Size Study, by Drug Class (Monoclonal Antibodies, Insulin, Granulocyte Colony-Stimulating Factor, Erythropoietin, Recombinant Human Growth Hormone, Etanercept, Follitropin, Teriparatide, Interferons, Anticoagulants, Other Drug Cla

Global Biosimilar Market Size Study, by Drug Class (Monoclonal Antibodies, Insulin, Granulocyte Colony-Stimulating Factor, Erythropoietin, Recombinant Human Growth Hormone, Etanercept, Follitropin, Teriparatide, Interferons, Anticoagulants, Other Drug Class), by Indication (Oncology, Inflammatory & Autoimmune Disorders, Chronic Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases, Other Indications) and Regional Forecasts 2022-2032

Global Biosimilar Market is valued at approximately USD 29.4 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 17.8% over the forecast period 2024-2032. Biosimilars, which are almost identical copies of original biologic products but manufactured by different companies, are increasingly being utilized to treat a wide range of chronic and acute diseases. These follow-on biologics have significantly impacted the healthcare landscape due to their potential to provide more affordable therapeutic options compared to original biologics. The resurgence in biosimilar approvals and launches, post the COVID-19 pandemic, has invigorated market expansion.

The launch of novel biosimilars is significantly impacting the global biosimilar market by providing more affordable alternatives to existing biologic therapies, which is expected to drive market growth. Biosimilars are biologic medical products highly similar to already approved reference biologics, offering comparable efficacy and safety at a lower cost. The increasing number of biosimilar approvals and launches is accelerating market expansion, as biosimilars are expected to save billions in healthcare costs. Moreover, the emerging markets and extended therapeutic uses present various lucrative opportunities over the forecast years. However, the complexities in manufacturing, increased competition and regulatory hurdles are challenging the market growth throughout the forecast period of 2024-2032.

The key regions considered for the Global Biosimilar Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Biosimilar Market in terms of revenue. The market growth in the region is being attributed to factors including advanced healthcare infrastructure, high prevalence of chronic diseases, and significant investment in biotechnology. The United States leads the market due to its large patient population, supportive regulatory environment, and substantial presence of key biosimilar manufacturers such as Amgen and Pfizer. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by increasing healthcare needs due to a rising prevalence of chronic diseases, expanding access to healthcare, and supportive government policies. Countries like China and India are investing heavily in biosimilar production and are experiencing a surge in demand due to their large patient populations and growing healthcare infrastructure.

Major market players included in this report are:

Orion Pharma AB

Samsung Bioepis

Coherus BioSciences, Inc.

Eli Lilly and Company

Takeda Pharmaceutical Company Limited

Bristol-Myers Squibb Company

Merck KGaA

Teva Pharmaceutical Industries Ltd.

Biocon

Bayer AG

AbbVie Inc.

Allergan

Dr. Reddy’s Laboratories Ltd.

Boehringer Ingelheim International GmbH

Biogen

The detailed segments and sub-segment of the market are explained below:

By Drug Class:

Monoclonal Antibodies

Insulin

Granulocyte Colony-Stimulating Factor

Erythropoietin

Recombinant Human Growth Hormone

Etanercept

Follitropin

Teriparatide

Interferons

Anticoagulants

Other Drug Class

By Indication:

Oncology

Inflammatory & Autoimmune Disorders

Chronic Diseases

Blood Disorders

Growth Hormone Deficiency

Infectious Diseases

Other Indications

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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