Biosimilars Market by Drug Class (Drug Class (Monoclonal Antibodies (Adalimumab, Infliximab, Rituximab, Trastuzumab), Insulin, Erythropoietin, Anticoagulants. rhGH), Indication, Region – Global Forecast to 2028

Biosimilars Market by Drug Class (Drug Class (Monoclonal Antibodies (Adalimumab, Infliximab, Rituximab, Trastuzumab), Insulin, Erythropoietin, Anticoagulants. rhGH), Indication, Region – Global Forecast to 2028

The global biosimilars market size is projected to reach USD 66.9 billion by 2028 from USD 29.4 billion in 2023, at a CAGR of 17.8% during the forecast period. Factors such as regulatory approvals, favorable reimbursement policies, rising demand for cost effective biosimilars is driving the market growth.

“The monoclonal antibodies product segment accounted for the highest growth rate in the biosimilars market, by drug class, during the forecast period”

In 2022, the monoclonal antibodies product segment accounted for the largest share of the biosimilars market, mainly due to the low prices of biosimilar monoclonal antibodies compared to the reference drugs and increased adoption of labs in the the treatment of cancer, autoimmune disorders, and osteoporosis. The growth of the fastest-growing segment was attributed to the rising incidence of cancer and chronic diseases globally. Increased approval for interchangeability insulin is likely to have positive impact on market.

“Oncology segment accounted for the largest share of the indication segment in 2022.”

Based on the indication, the biosimilars market is segmented into oncology, inflammatory and autoimmune diseases, chronic diseases, blood disorders, growth hormone deficiency, infectious diseases, and other indications. Rising demand for cancer drugs, growth hormones across various regions is propelling the growth of the market.

“Asia Pacific region is likely to grow at a faster pace.”

The biosimilars market is segmented into Europe, Asia Pacific, North America, latin America and Middle East and Africa. The APAC market is expected to be the fastest-growing regional segment during the forecast period due to the presence of numerous emerging players, less-stringent government regulations, and increasing cooperation among leading and regional players for development, manufacturing and commercialization of biosimilars.

The primary interviews conducted for this report can be categorized as follows:

By Respondent: Supply Side- 70%, and Demand Side - 30%

By Designation (Supply Side): Managers - 45%, CXOs & Directors - 30%, Executives- 25%

By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, and Middle East and Africa -5%

Lists of Companies Profiled in the Report:

Novartis AG (Switzerland)

Pfizer Inc. (US)

Dr. Reddy’s Laboratories Ltd. (India)

F. Hoffmann-La Roche Ltd (Switzerland)

Eli Lilly & Company (US)

Amgen Inc. (US)

Teva Pharmaceutical Industries Ltd. (Israel)

Samsung Biologics (South Korea)

Fresenius SE & Co. KGaA (Germany)

Boehringer Ingelheim International GmbH. (Germany)

STADA Arzneimittel AG (Germany)

Coherus BioSciences (US)

FUJIFILM Kyova Kirin Biologics Co., Ltd. (Japan)

USV Limited (India),

Amneal Pharmaceuticals LLC. (US)

Celltrion Healthcare (South Korea)

Biocon (India)

Intas Pharmaceuticals Ltd. (India)

Reliance Life Sciences (India)

AMEGA Biotech (Argentina)

Apotex, Inc. (Canada)

BIOCAD (Russia)

mAbxience (Spain)

Probiomed (Mexico)

Kashiv BioSciences, LLC (US),

Formycon AG (Germany)

Polpharma Biologics Group (Poland)

Amphastar Pharmaceuticals, Inc. (US)

Alvotech (Iceland)

UCB SA, (Belgium)

Research Coverage:

This report provides a detailed picture of the biosimilars market. It aims at estimating the size and future growth potential of the market across different segments, such as drug class, indication and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall biosimilars market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Increasing demand for biosimilars, launch of novel biosimilars, rising geriatric population & chronic disease incidence, abbreviated regulatory process & interchangeability), restraints (complexities in manufacturing), opportunities (emerging markets, patent expiry of blockbuster biologics and research on new indication), and challenges (excess competition & regulatory challenges) influencing the growth of biosimilars market.

Product Development/Innovation: Detailed insights on newly launched products, and pipeline analysis of the biosimilars market.

Market Development: Comprehensive information about lucrative markets – the report analyses the biosimilars market across varied regions.

Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the biosimilars market.

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Novartis AG (Switzerland), Pfizer Inc. (US), Dr. Reddy’s Laboratories Ltd. (India), F. Hoffmann-La Roche Ltd (Switzerland), Eli Lilly & Company (US), Amgen Inc. (US) and among others in the biosimilars market.